Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Business Theme 2 > (2.2 in Booklets) Managing Business Resources 2.4 > Flashcards

(2.2 in Booklets) Managing Business Resources 2.4 Flashcards

1
Q

Job Production

A

Making 1 unique product from start to finish

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Batch Production

A

Making batches of similar products e.g paint

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Flow Production

A

Continuous production of identical items

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Benefits of job production

A

Specialist Skills
Flexible
Charge a high price
High quality
Specialist Work

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Limitations of Job Production

A

Takes time
Expensive to hire specialist staff
Labour Intensive

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Benefits of Batch Production

A

+Product can be changed to match customer wants and needs
+Standard Production - Production can be mechanised so its less labour intensive
+Employees become specialised to do their job

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Benefits of Flow production

A

Lower CPU
Automated
Production Is continuous
Economies Of Scale

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Limitations of Flow production

A

High cost machinery
Low Motivation
Break downs are likely to cost them

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Benefits of Cell production

A

Cost Saving
Skilled Staff
Relationship in Workforce
Quality Control

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Limitations of Cell Production

A

Expensive to set up

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Cell Production

A

Items is organised into groups + then teams are set up at workstations to see a product through to completion

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Capacity utilisation

A

The proportion of maximum possible output that is currently being used

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Benefits of working at 100% capacity

A

Most Revenue
More output
Lower CPU
Better Economies of scale

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Drawbacks of working at 100% capacity

A

Demotivated staff
May not be enough time for routine maintenance
Crowded factory
May be needing to pay overtime

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Why its needed to work at lower than 100%

A

General reduction in demand
To keep spare capacity

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Operating above capacity

A

Increase Staff hours (Overtime)
Recruit Staff
Swing Shifts
Sub Contracting

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

Lean Production

A

Approach to management that cuts out waste, whilst ensuring quality

18
Q

Labour Production Formula

A

Output (Per time period)/ No. employees (Per time Period)

19
Q

Capital Production Formula

A

Output/ Capital employed

20
Q

Why does a business keep stock?

A

Need a min amount of stock- enough ready if needed (Buffer stock)
Stock to replenish when supplies are used

21
Q

Consequences of poor stock control

A

Stock costs money for a business to hold
Storage Area
Computer Records
Staff to manage stocks needed
Cash tied up in stock

22
Q

Problems of holding too much stock

A

Storage Costs
Food Storage- needs certain conditions
Insurance
Computer Records
Opportunity costs- space could be used for something else
Theft is possible

23
Q

JIT- Just in Time

A

Helps negate the issues associated with holding too much stock by introducing the supplies right at the moment they’re needed.

24
Q

Advantages of JIT

A

No wastage
Parts are warehoused
Lower CPU

25
Q

Disadvantages of JIT

A

Business may not be able to cope with unexpected increase in demand
If deliveries are late firm may need to halt production

26
Q

Impact of JIT on Staff

A

Employees of the business need to train to help them with the system
May form part of a quality circle

27
Q

Impact of JIT to Suppliers

A

To make it work the large manufacturer needs to have excellent working relationship with their supplier

28
Q

Benefits of good quality

A

Good reputation
Loyal Customers
Charge a premium price
Higher revenue
High level of repeat business

29
Q

Drawbacks of good quality

A

More expensive to make/ higher costs
Lots of pressure to always deliver
High expectations
Retailers unwilling to stock
Impacts other product sales

30
Q

Quality Control

A

Concerned with checking work that has already been done

31
Q

Benefits of Quality Control

A

Guarantee certain level of quality

32
Q

Drawbacks of Quality control

A

Have to pay someone to do this
Some faulty products get through
Expensive and time consuming

33
Q

Quality assurance

A

Every worker is responsible for making sure that the work they do meets quality standards

34
Q

Benefits of quality assurance

A

Guarantees quality
No staff to just check
Motivated due to the responsibility

35
Q

Drawbacks of Quality Assurance

A

Time consuming
Each worker may have different standards- no consistency

36
Q

Quality Circles

A

Group of 5-20 employees Meet on a regular basis to solve production problems and suggest improvements

37
Q

Benefits of Quality circles

A

Motivated employees
The problems directly involves them

38
Q

Drawbacks of quality circles

A

Only works in a democratic leadership

39
Q

TQM- Total Quality Management

A

Puts quality at the heart of everything- getting it right first time, every time

40
Q

Benefits of TQM

A

Guarantee quality
Premium Price

41
Q

Drawbacks of TQM

A

Expensive
Requires Skilled Staff

Business Theme 2 (4 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions