C720 WGU Supply Chain Management Key Terms
Questions with 100% Correct Answers | Verified |
Latest Update 2026
Save
Practice questions for this set
Learn 1 /7 Study with Learn
Method allowing organizations to determine costs associated with producing
and maintaining quality products, including internal failure costs, external
failure costs, appraisal costs, and prevention costs.
Choose an answer
1 ABC Analysis 2 Ethics
3 Costs of Quality 4 Demand Patterns
Don't know?
Terms in this set (168)
, ABC Analysis Developed to determine inventory items needing
the highest level of control based on annual dollar
usage.
Business Process Set of work activities with a preferred order, inputs,
outputs, adding value to the customer.
Competitive Advantage Capability valued by customers, giving an edge
against competition (e.g., short lead time).
Competitive Capabilities Outcomes of well-designed business processes
enabling a firm to meet customer requirements.
Demand Patterns Regular fluctuations in demand caused by seasons,
cycles, and trends.
Random Demand Unpredictable demand patterns not following a
specific trend.
Cyclical Demand Predictable demand occurring over years, visible in
the broader market picture.
Seasonal Demand Demand influenced by holidays, affecting purchase
velocity.
Trend Demand General uptick or downward flow trend in demand
over time.
Economic Order Quantity (EOQ) Model focusing on ordering and holding costs for
purchased items, assuming complete inventory
arrival.
Questions with 100% Correct Answers | Verified |
Latest Update 2026
Save
Practice questions for this set
Learn 1 /7 Study with Learn
Method allowing organizations to determine costs associated with producing
and maintaining quality products, including internal failure costs, external
failure costs, appraisal costs, and prevention costs.
Choose an answer
1 ABC Analysis 2 Ethics
3 Costs of Quality 4 Demand Patterns
Don't know?
Terms in this set (168)
, ABC Analysis Developed to determine inventory items needing
the highest level of control based on annual dollar
usage.
Business Process Set of work activities with a preferred order, inputs,
outputs, adding value to the customer.
Competitive Advantage Capability valued by customers, giving an edge
against competition (e.g., short lead time).
Competitive Capabilities Outcomes of well-designed business processes
enabling a firm to meet customer requirements.
Demand Patterns Regular fluctuations in demand caused by seasons,
cycles, and trends.
Random Demand Unpredictable demand patterns not following a
specific trend.
Cyclical Demand Predictable demand occurring over years, visible in
the broader market picture.
Seasonal Demand Demand influenced by holidays, affecting purchase
velocity.
Trend Demand General uptick or downward flow trend in demand
over time.
Economic Order Quantity (EOQ) Model focusing on ordering and holding costs for
purchased items, assuming complete inventory
arrival.
