5205858
Description
Flashcards by Libby Rose, updated more than 1 year ago
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Created by Libby Rose
over 8 years ago
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| Question | Answer |
| RESOURCE MANAGEMENT | Aspects of the business which are directly linked to the fulfilment of customer orders |
| JOB PRODUCTION | The production of one off items to meet the specific needs of each individual customer |
| BATCH PRODUCTION | Identical items are produced in groups, each item passing through the production process at the same time |
| FLOW PRODUCTION | A capital intensive production technique in which items flow along a production line in a continuous process |
| CELL PRODUCTION | Workers are organised into teams where each group is responsible for the production of a product from start to finish |
| PRODUCTIVITY | Measures the output in a production process per unit of input |
| OUTPUT PER UNIT OF INPUT | A measure of productive efficiency that looks at the use of factor inputs ie. land, labour, capital in relation to the quantity of finished goods |
| COMPETITIVENESS | The degree to which a firm is successful at selling its products in the face of competition in the market |
| PRODUCTIVE EFFICIENCY | The effective use of resources to minimise inputs and maximise outputs in operations management |
| MINIMUM AVERAGE COST | The lowest achievable cost per unit produced which will be achieved at the optimum level of output |
| LABOUR INTENSIVE PRODUCTION | When production uses a relatively high proportion of labour ie. workers in the production of a product or service |
| CAPITAL INTENSIVE PRODUCTION | A type production that uses relatively high proportion of capital, such as machinery, in the production of a good or service |
| CAPACITY UTILISATION | A measure of the percentage of potential output being achieved. Actual/Maximum x 100 |
| UNDER-CAPACITY | A firms resources are not being used at or close to full capacity, ie.low |
| OVER-CAPACITY | A firm is operating above full capacity ie. resources made toiwork at an excessive level |
| STOCK CONTROL | The mechanism that a company uses to maintain its level of goods or stock held |
| STOCK CONTROL DIAGRAM | Graphical representations of stock factors. Stock levels are represented on the y axis and time on the X axis |
| BUFFER STOCK | Stock held by a business to cope with unforeseen circumstances eg. sudden increase in demand, break down in supplies |
| JIT | A lean production method technique used to minimise stock holdings at each stage of the production process |
| LEAN PRODUCTION | Working practices derived from Japan that focus on cutting waste whilst maintaining, or improving quality |
| Quality management | The processes by which a business meets the customers' expectations in relation to quality |
| Quality | The ability of a product or service to meet customers' expectations |
| Quality Control | The checking of a good or service before it is delivered to a customer ie. at the end of the production process |
| Quality Assurance | The checking of a product or service at each stage of its production eg. as it travels along a production line |
| Quality Circles | Informal groups of workers who volunteer to meet on a regular basis to discuss issues relating to the workplace |
| TQM | An attitude towards quality assurance in which each employee is a link in the chain and treats the next link as if they were an external customer |
| Continuous Improvement (Kaizen) | Quality management technique that concentrates on small, but frequent improvements in every aspect of the production process. |
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