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business unit 3
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1Businesses need to have a [blank_start]dependable[blank_end] supply chain. A supply chain consists of the group of firms tat are involved in all the various [blank_start]processes[blank_end] required to make finished [blank_start]product[blank_end] or [blank_start]service[blank_end] available to the customer.
- Adependable
- Bprocesses
- Cproduct
- Dservice
2The supply chain being with the [blank_start]supplier[blank_end] and ends with the firm that sells the [blank_start]finished[blank_end] [blank_start]product[blank_end].
- Asupplier
- Bfinished
- Cproduct
3If the members of the supply chain are [blank_start]unreliable[blank_end], the product won't be available when it needs to be and the quality will be [blank_start]poor[blank_end] which reflects [blank_start]badly[blank_end] on the company selling it.
- Aunreliable
- Bpoor
- Cbadly
4Companies choose their suppliers based of these 3 important factors 1. [blank_start]price[blank_end](total cost of getting product) 2. [blank_start]quality[blank_end](meets expectations of customer) 3. [blank_start]reliability[blank_end](consistency of delivery).
- Aprice
- Bquality
- Creliability
5Procurement and logistics are really [blank_start]important[blank_end] in a business. [blank_start]Effective[blank_end] procurement and logistics can reduce the overall [blank_start]costs[blank_end] of a business. If a business doesn't waste money form the [blank_start]supply[blank_end] chain the business will have lower [blank_start]overall[blank_end] cost. This will reduce [blank_start]unit[blank_end] cost(amount of cost it takes to make each item). So the firm can make more [blank_start]profit[blank_end] on each item.
- Aimportant
- BEffective
- Ccosts
- Dsupply
- Eoverall
- Funit
- Gprofit
6Procurement means [blank_start]finding[blank_end] and [blank_start]buying[blank_end] things that firm needs from suppliers [blank_start]outside[blank_end] the firm. E.g a clothes manufacturer buying silk.
- Abuying
- Bfinding
- Coutside
7Logistics means getting [blank_start]goods[blank_end] or [blank_start]services[blank_end] from one part of the [blank_start]supply[blank_end] [blank_start]chain[blank_end] to another.
- Agoods
- Bservices
- Csupply
- Dchain
8Having an effective procurement and logistics improves [blank_start]efficiency[blank_end] of business - the business will have supplies it needs at the [blank_start]right[blank_end] time which means no [blank_start]breaks[blank_end] in production will happen and no materials will need to go to [blank_start]waste[blank_end].
- Aefficiency
- Bright
- Cbreaks
- Dwaste
9Managing a supply chain effectively is [blank_start]important[blank_end] because companies will gain benefits such as a good relationships with [blank_start]suppliers[blank_end], finding best [blank_start]price[blank_end] and value and reducing [blank_start]waste[blank_end] and unnecessary [blank_start]cost[blank_end].
- Aimportant
- Bsuppliers
- Cprice
- Dwaste
- Ecost
10Job production is making [blank_start]one[blank_end] thing at a time and is used when a firm manufactures [blank_start]unique[blank_end] products. These products often require [blank_start]skilled[blank_end] labour. They're usually [blank_start]expensive[blank_end] and take a [blank_start]long[blank_end] time to make but they are also high [blank_start]quality[blank_end].
- Aone
- Bunique
- Cskilled
- Dexpensive
- Elong
- Fquality
11Flow productions is making lots of things [blank_start]continuously[blank_end]. All products are identical and the aim is to produce as many as [blank_start]possible[blank_end] along an [blank_start]assembly[blank_end] line. To be efficient the production has to be continuous with no [blank_start]stoppages[blank_end].
- Acontinuously
- Bpossible
- Cassembly
- Dstoppages
12Flow production gain from using [blank_start]economies[blank_end] of scale so they will have a low average [blank_start]unit[blank_end] cost to allow competitive prices. Modern flow productions use [blank_start]machinery[blank_end] not people.
- Aeconomies
- Bunit
- Cmachinery
13Lean production [blank_start]increases[blank_end] efficient of production. Lean production is a [blank_start]strategy[blank_end] business use to make production more efficient. Their aims is to use few resources as possible and to have [blank_start]little[blank_end] waste as possible. Workers can be encouraged to think about ways to improve their [blank_start]productivity[blank_end].
- Aincreases
- Bstrategy
- Clittle
- Dproductivity
14JIT([blank_start]Just[blank_end] [blank_start]in[blank_end] [blank_start]Time[blank_end]) is a form of [blank_start]lean[blank_end] production. JIT aims to keep stock levels to the bare [blank_start]minimum[blank_end] and resources arrive only when needed. The main benefit of JIT is that it reduces cost of keeping [blank_start]stock[blank_end](less warehouse space). The main problem is that it requires a lot of [blank_start]coordination[blank_end] between firm and suppliers.
- AJust
- BTime
- Cin
- Dlean
- Eminimum
- Fstock
- Gcoordination
15JIC(Just in case) is a method of operating a production a distribution with [blank_start]buffer[blank_end] stocks. This is important because if a customers demand increases there is extra stock. The main benefit is that they purchase using [blank_start]economies[blank_end] of scale which lowers the average [blank_start]unit[blank_end] cost. The main problem is that it costs a lot to store the [blank_start]extra[blank_end] supplies.
- Abuffer
- Beconomies
- Cunit
- Dextra
16Quality of a product depends on different factors such [blank_start]materials[blank_end] the product is made from and the production [blank_start]method[blank_end] used to assemble the product. [blank_start]Customer[blank_end] service(any interaction a business has with a customer) also needs to be good. Customers expect a [blank_start]high[blank_end] standard of service.
- Amaterials
- Bmethod
- CCustomer
- Dhigh
17The benefits of maintaining quality include [blank_start]increased[blank_end] [blank_start]profits[blank_end] as customers are willing to pay higher price for better quality and better [blank_start]reputation[blank_end] this means new customers will sue them and existing customers will be encouraged to use them again.
- Aincreased
- Bprofits
- Creputation
18Maintaining quality can also cost a lot this cost comes from [blank_start]staff[blank_end] training.
- Astaff
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- Quiz on business unit 3 , created by Neal Khambalikar on 06/11/2022.
- Author
- Neal Khambalikar
- Language
- English
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