Flashcards
2.3.2a Managing the Provision Process
Cards in this deck (25)
- 1What are the three main areas needed to be considered when designing a new product?Aesthetic
Functional
Economic - 2What is the Ideal Design mix?One that meets the needs of the consumer
OR
Equal balance in all three areas - 3When might the design mix be changed?If new technology becomes available
If new materials are developed - 4Definition of Operations Managamentcovers all aspects of production including the sourcing of all inputs and the efficient organisation of all resources used in production
- 5Definition of Productivitymeasures how efficiently resources are actually being used, usually by looking at output per worker
- 6Definition of Efficiencymeans organizing production so that waste is minimized and costs are at the lowest possible
- 7Definition of Capital intensive productionuses large amounts of capital and little labour
- 8Definition of Labour intensive productionuses large amounts of labour and little capital
- 9Definition of Outsourcingmeans that the business buys some inputs from other businesses this can also mean building a factory in another country with lower labour costs
- 10Definition of Capacity Utilisationmeasures what proportion of the maximum possible output is actually produced
- 11How is capacity utilization calculated?Current output / Maximum possible output X 100
- 12Results of Over Utilization of capacityCreate Bottlenecks
Downtime needed for maintenance - 13Ways to reduce under utilization of capacticyExtend product range
Find new markets
Promotion
Rent excess space to businesses - 14Ways to improve over utilization of capacityOutsource some production to other businesses
invest in more space - 15Definition of Lean Managementa general term given to any system of production that tries to minimize waste during the production process and help cut costs
- 16What is Just In Timea stock control system that does away with the need to hold large quantities of stocks or raw materials. Stocks arrive when needed
- 17What is Kanban?Production takes place only after a customer has placed an order.
- 18What is TIme Based Management?Based on saving time where ever possible so the firm can respond quicker
- 19What is Kaizen?Continuous improvement to the production of a product
- 20What is TQM?Total Quality Management
- 21Advantages of JITLess need for storage space
Greater flexibility in responding to changes in demand - 22Disadvantages of JITMay not benefit from reduced costs of bulk buying
Heavy reliance on reliability of suppier - 23Advantages of Lean ProductionReduces costs of storage
Shorter Lead times
Improves quality - 24Disadvantages of Lean ProductionDoesn't suit all businesses
Failure of one small supplier can effect the whole of production
Workers may dislike greater responsibility - 25Definition of Stock ControlProcess of making sure that the optimum level of stock is held, so demand can be met while keeping stock holding costs to a minimum
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- A Level Business Studies (Managing The Business) Flashcards on 2.3.2a Managing the Provision Process, created by Molly Hills on 24/11/2014.
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