Flashcards
THEME 2: Resource Management
Cards in this deck (27)
- 1RESOURCE MANAGEMENTAspects of the business which are directly linked to the fulfilment of customer orders
- 2JOB PRODUCTIONThe production of one off items to meet the specific needs of each individual customer
- 3BATCH PRODUCTIONIdentical items are produced in groups, each item passing through the production process at the same time
- 4FLOW PRODUCTIONA capital intensive production technique in which items flow along a production line in a continuous process
- 5CELL PRODUCTIONWorkers are organised into teams where each group is responsible for the production of a product from start to finish
- 6PRODUCTIVITYMeasures the output in a production process per unit of input
- 7OUTPUT PER UNIT OF INPUTA measure of productive efficiency that looks at the use of factor inputs ie. land, labour, capital in relation to the quantity of finished goods
- 8COMPETITIVENESSThe degree to which a firm is successful at selling its products in the face of competition in the market
- 9PRODUCTIVE EFFICIENCYThe effective use of resources to minimise inputs and maximise outputs in operations management
- 10MINIMUM AVERAGE COSTThe lowest achievable cost per unit produced which will be achieved at the optimum level of output
- 11LABOUR INTENSIVE PRODUCTIONWhen production uses a relatively high proportion of labour ie. workers in the production of a product or service
- 12CAPITAL INTENSIVE PRODUCTIONA type production that uses relatively high proportion of capital, such as machinery, in the production of a good or service
- 13CAPACITY UTILISATIONA measure of the percentage of potential output being achieved.
Actual/Maximum x 100 - 14UNDER-CAPACITYA firms resources are not being used at or close to full capacity, ie.low
- 15OVER-CAPACITYA firm is operating above full capacity ie. resources made toiwork at an excessive level
- 16STOCK CONTROLThe mechanism that a company uses to maintain its level of goods or stock held
- 17STOCK CONTROL DIAGRAMGraphical representations of stock factors. Stock levels are represented on the y axis and time on the X axis
- 18BUFFER STOCKStock held by a business to cope with unforeseen circumstances eg. sudden increase in demand, break down in supplies
- 19JITA lean production method technique used to minimise stock holdings at each stage of the production process
- 20LEAN PRODUCTIONWorking practices derived from Japan that focus on cutting waste whilst maintaining, or improving quality
- 21Quality managementThe processes by which a business meets the customers' expectations in relation to quality
- 22QualityThe ability of a product or service to meet customers' expectations
- 23Quality ControlThe checking of a good or service before it is delivered to a customer ie. at the end of the production process
- 24Quality AssuranceThe checking of a product or service at each stage of its production eg. as it travels along a production line
- 25Quality CirclesInformal groups of workers who volunteer to meet on a regular basis to discuss issues relating to the workplace
- 26TQMAn 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
- 27Continuous Improvement (Kaizen)Quality management technique that concentrates on small, but frequent improvements in every aspect of the production process.