Flashcards
3.2 Keywords - Meeting Customer Needs
Cards in this deck (13)
- 1Design MixThe range of variables which contribute to successful design; they are function, cost, and appearance
- 2StocksMaterials that a business holds. Some could be materials waiting to be used in the production process and some could be finished stock waiting to be delivered to customers.
- 3Maximum stock levelsThe highest amount of stock to be kept by a business
- 4Re-order levelThe amount of stock held by a business at which an order for new stock is placed with suppliers
- 5Buffer stock level or minimum stock levelThe lowest amount of stock to be kept by a business
- 6Just In Time (JIT)A stock management system where stocks are only delivered when they are needed by the production system, and so no stocks are kept by a business
- 7QualityAchieving a minimum standard for a product or service, or a production process which meets customers needs
- 8Quality ControlEnsuring that a product or service meets minimum standards, often through testing of sample products once they have been made
- 9Quality AssuranceEnsuring that quality is produced and delivered at every stage of the production process, often through making quality the responsibility of every worker
- 10Customer ServiceThe experience that a customer gets when dealing with a business and the extent to which that experience meets and exceeds customer needs and expectations
- 11InnovationThe process of transforming inventions into products that can be sold to customers
- 12Sale of goods legislationGives consumers rights to compensation if a product they buy is not of merchantable quality, not as described or not fit for purpose
- 13Trade description legislationMakes businesses liable for prosecution and fines if products are sold in a misleading way
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- 3.2 - Meeting Customer Needs - Keywords & Definitions - Edexcel Business Studies
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- Mr_Lambert_Hungerhil
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