23 - The nature of operations Flashcards
Define Transformational process
an activity or group of activities that transforms one of more inputs, adds value to them, and produces outputs for customer
Define Productivity
the ratio of outputs to inputs during production
Define Level of production
the number of units produced during a time period
Define Production
the process that transforms inputs into outputs
Define Efficiency
producing outputs at the highest ratio of output to input
Define effectiveness
meeting the objectives of the business by using inputs productively to meet customers’ needs
Define Sustainability of operations
business operations that can be maintained in the long term, for example, by protecting the environment and not damaging the quality of life for future generations
Define Labour intensive
involving a high level of labour input compared with capital equipment
Define Capital intensive
involving a high quality of capital compared with labour input
Define Job production
the production of a one-off item specially designed for the customer
Define Batch production
the production of a limited number of identical products - each item in the batch passes through one stage of production before passing on the next stage
Define Flow production
the production of items in a continually moving process
Define Mass customisation
the use of flexible computer-aided technology on production lines to make products that meet individual customers’ requirements for customised products
Intellectual capacity
the intangible capital of a business that includes human capital, structural capital and relational capital
