2.3 definitions

Question 1

automation

Answer 1

using machinery to do a job instead of using people to do them

Question 2

bar gate stock graph

Answer 2

a diagram to show changes in level of stock

Question 3

batch production

Answer 3

producing a limited number of identical products

Question 4

bespoke

Answer 4

designed and made for a specific customer

Question 5

buffer stock

Answer 5

the minimum stock level

Question 6

capital

Answer 6

is the money needed to run a business

Question 7

competitive advantage

Answer 7

an advantage a business has over its rivals

Question 8

CAM

Answer 8

tech used when planning a production process

Question 9

cost per unit

Answer 9

how much it costs to make each product or service

Question 10

culture

Answer 10

the way we do things round here

Question 11

customer engagement

Answer 11

the attempt to make a customer feel part of something

Question 12

differentiate

Answer 12

show that something is different from similar things

Question 13

downtime

Answer 13

time when a person or machine is not producing

Question 14

hard approach

Answer 14

approach, engage and target

Question 15

soft approach

Answer 15

allow customers to approach

Question 16

economies of scale

Answer 16

cost of producing a unit goes down as production increases

Question 17

efficiency

Answer 17

how well a business limits its waste

Question 18

e tailing

Answer 18

retailing to customers through the internet

Question 19

flexibility

Answer 19

ability to switch quickly and easily from one task to another

Question 20

flow production

Answer 20

continuous production of an identical product

Question 21

fluctate

Answer 21

the rise and fall of an amount

Question 22

job production

Answer 22

the production of one product at a time made specifically for a customers needs

Question 23

JIT

Answer 23

method of stock control where a bisiness procures stock only when they need it rather than holding stock

Question 24

inputs

Answer 24

resources that a business uses in its operations

Question 25

labour

Answer 25

workforce

Question 26

lead time

Answer 26

length of time between new stock being ordered and delivery

Question 27

logistics

Answer 27

organisation and management within a business of the transport of raw materials

Question 28

materials

Answer 28

the raw mateials used in operations

Question 29

maximum stock level

Answer 29

maximum a business can hold

Question 30

metric

Answer 30

a standard of measurement

Question 31

minimum stock level

Answer 31

smallest amount of stock a business can hold

Question 32

operations

Answer 32

are the activities that allow a business to produce and deliver products

Question 33

outputs

Answer 33

end products or services of a transformation process

Question 34

payment terms

Answer 34

terms agreed with a supplier

Question 35

perishable

Answer 35

likely to go out of date

Question 36

post sales service

Answer 36

service relieved after purchased

Question 37

procurement

Answer 37

process of managing a businesses major purchases

Question 38

productivity

Answer 38

effectiveness with which a business produces its output

Question 39

product knowledge

Answer 39

how well staff know all the features of the product

Question 40

qualitative

Answer 40

quality of somthing in words

Question 41

quality

Answer 41

how well a product/service does its job

Question 42

quality assurance

Answer 42

checking the standard of quality throughout the process

Question 43

quality control

Answer 43

checking the standard of a products quality at the end of production

Question 44

quality mark

Answer 44

a standard of quality given to a business that is accredited by a professional body

Question 45

quantitative

Answer 45

measured in numbers

Question 46

re order level

Answer 46

the point at which the business orders more

Question 47

retailing

Answer 47

selling products to customers

Question 48

robots

Answer 48

machines that can be programmed to do a task

Question 49

stock

Answer 49

items held by a firm

Question 50

suppliers

Answer 50

a company that supplies other businesses its raw materials

Question 51

supply chain management

Answer 51

managament of the flow of goods through the production process

Question 52

transaction

Answer 52

the act of buying or selling

Question 53

transformation process

Answer 53

inputs, operations, output

Question 54

variable cost

Answer 54

costs paid by a business that change depending on how many products sell

Question 55

warranty

Answer 55

guarantee by the producer that it will repair any faults for a specific time