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WGU C720 Complete OA Prep Guide Questions and Correct Answers | Latest Update

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WGU C720 Complete OA Prep Guide Questions and Correct Answers | Latest Update

Instelling
C720
Vak
C720

Voorbeeld van de inhoud

1 for specific request mail




WGU C720 Complete OA Prep Guide Questions and
Correct Answers | Latest Update
Inputs Ans: People, capital, material, money

Outputs Ans: Services and goods

Sustainability Ans: Defined broadly in operations and supply chain
management as the ethical issues an organization faces to balance
financial performance while maintaining social responsibility standards
and a responsible environmental profile.
Assignment Expert




VIRAL Ans: Acronym - A framework for competitive advantage.
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Viral, Inimitable, Rare, Aptitude, Lifespan.

The advantage must provide Value to consumers; it should be Inimitable
(not easily imitated), Rare, and an organization must have the Aptitude
(capability) and Lifespan (sustainability) to earn appropriate returns on
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the advantage.
©




Productivity Ans: A mathematical calculation; it is the ratio of the
outputs achieved divided by the inputs consumed to achieve those
outputs.

6 Types of Inventory Ans: o Raw Materials

o Work In Progress

o Finished Goods

o Replacement Parts Inventory

o Supplies

o Transportation

, 2 for specific request mail




Raw Materials Ans: These parts and materials are obtained from
suppliers and are used in the production process.

Work-in-process (WIP) Ans: These are partly finished parts, components,
sub-assemblies, or modules.

Finished Goods Ans: Items are ready to ship to the customer. No more
work is required.

Replacement parts inventory Ans: These are maintained to replace other
parts in machinery or equipment as those parts wear out
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Supplies Ans: Parts or materials are used to support the production
process but not usually a component of the product. These items, such
as lubricant and cutting tools, are consumed in the production process.
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Transportation (pipeline): Ans: The portion of inventory that is in the
process of being shipped through the distribution system.
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4 Types of Demand Ans: o Peak

o Seasonal
©




o Unexpected

o Chase

Peak Demand Ans: Demand which occurs in response to planned events
such as advertising, publicity or promotion. The release of a popular
game franchise's latest version often causes peak demand for a few days
or weeks.

Seasonal Demand Ans: Demand as shoppers adjust their purchase
velocity in line with holidays, especially Christmas. But Halloween,
Thanksgiving and even St. Patrick's Day also create seasonal demand for
certain kinds of merchandise.

, 3 for specific request mail




Unexpected Demand Ans: Demand which occurs due to a usually-
unexpected event. For example, an underdog school may upset a favorite
during the NCAA's basketball tournament, causing a run on their
merchandise.

Chase Demand Ans: Demand that occurs when a company has to adjust
production by rates to match demand by varying the workforce and using
overtime. Companies vary the workforce by adding or reducing the
number of employees on duty at any given time. And they may choose to
provide overtime by asking workers to stay on the job beyond their
normally scheduled time.
Assignment Expert




Safety Stock Ans: A cushion of inventory to protect against unexpected
demand. In this way, they can continue to meet customer demand
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without delays.

Stock Out Ans: Occurs when inventory is depleted.
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Perpetual Inventory System Ans: Continuously monitors inventory levels
and is also called a continuous review system. Requires human input (i.e.
cashier) and the ordering of more inventory is triggered by reorder point.
©




o Requires an exact inventory balance at all times

o Best for big businesses, retail stores, or banks

o High value and high volume

o Expensive to implement and maintain

Periodic Inventory System Ans: Randomly monitors inventory levels and
is also called the fixed order interval system.

o Requires a physical count periodically

o Used when a supplier will only deliver at specific time intervals

o Low value and volume

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Instelling
C720
Vak
C720

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Aantal pagina's
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Geschreven in
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