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Business- Theme 2 > 2.3 Making Operational Decisions > Flashcards

2.3 Making Operational Decisions Flashcards

1
Q

What are the 3 main types of production processes?

A
  • Job
  • Batch
  • Flow
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2
Q

What is job production?

A
  • Production of 1 product at a time
  • Requires highly skilled workforce + low levels of automation
  • Number of products produced=low
  • Every item has a high profit margin( high cost)
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3
Q

Benefits of job production

A
  • Highly flexible
  • Product meets customer needs and wants
  • Builds positive relation with customers
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4
Q

Disadvantages of job production

A
  • Requires highly trained employees
  • Highly skilled employees demand higher wages
  • Cost of material is higher
  • one-off bespoke production
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5
Q

What is batch production?

A
  • Produce products relatively large production runs
  • Uses some automation
  • Allows business to be more flexible + vary products being produced
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6
Q

Advantages of batch production

A
  • Allows business to be flexible

- Allows business to get benefit of reduced costs through production of a larger scale

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7
Q

Disadvantages of batch production

A
  • There is downtime between batches, business rate of production falls
  • Difficult to anticipate demand
  • Can produce wastage from overproducing
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8
Q

What is flow production?

A
  • Takes place when a standardised product is produced on a large scale
  • Uses a lot of automation
  • Usually only one product is made
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9
Q

Advantages of flow production

A
  • Sold in large quantities
  • Lowers costs of raw materials
  • Can get benefit of economies of sale
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10
Q

Disadvantages of flow production

A
  • Initial cost of machinery + robots is high

- Requires high maintenance from skilled workers

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11
Q

What is the impact of technology on a business?

A

Using computers allows businesses to lower their cost per unit, while increasing their productivity, efficiency and quality of products

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12
Q

What equipment is used to reduce costs for production?

A

CAM

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13
Q

How can techno,ohh help improve productivity?

A
  • Businesses use supply chain management (SCM)
  • SCM helps coordinate delivery of materials on time
  • Helps prevent too much waste
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14
Q

How can technology help improve quality of products?

A
  • Help improve customer services
  • Better connection with customers
  • Tracks location of products
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15
Q

How can technology help improve flexibility of a product?

A
  • Can change the quantity of product being made

- Can change characteristics of product

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16
Q

What are the disadvantages of technology on a business?

A
  • Resistance to change
  • Fewer jobs= high level of unemployment
  • Highly skilled workers to operate machine
  • Cost of maintenance is high
17
Q

What happens If a supplier fails to provide a business with the right quantity of raw materials?

A
  • Staff can’t complete orders
  • Limited choice/ no products at all
  • Loss of customers
  • A poor reputation
18
Q

What is procurement?

A

The process of managing a business’s major purchases

19
Q

What factors contribute to a businesses relationship with it’s suppliers?

A
  • Cost of materials made
  • Delivery provided by supplier
  • Quality of raw materials
  • Availability of materials
  • Level of trust
20
Q

What is logistics?

A

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

21
Q

What does perishable mean?

A

Likely to go out of date or go off quickly

22
Q

What are the 2 ways a business can manage it’s stock?

A
  • Bar gate stock graphs

- Just in time stock control

23
Q

What is a bar gate stock graph?

A

Indicates level of stock that a business is holding at any one time

24
Q

What 4 pieces of info does a bar gate stock graph show?

A
  • The maximum stock level
  • The minimum stock level
  • The level of stock at which a business should order more stock
  • The lead time
25
Q

What is the maximum/minimum stock level?

A
  • The maximum amount of stock a business can hold in it’s warehouse/ shop etc
  • Minimum= smallest amount of stock a business can hold without running out of stock
26
Q

What is the re-order level?

A

The point at which a business orders more of that product

27
Q

What is lead time?

A

The length of the ice new stock is being ordered and it’s delivery at the factory or shop. It help manage stocks, large lead time is bad

28
Q

What is just in time stock control?

A

When a business procures stick only when they need it

29
Q

Advantages of JIT

A
  • Helps improve efficiency+ decrease waste

- Business has more cash available for other costs

30
Q

Disadvantages of JIT

A
  • Business must be able to forecast customer demand

- Could lead to unhappy customers

Business- Theme 2 (11 decks)

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