2.4 key terms Flashcards

1
Q

Define lean production

A

A method of production that focuses on cutting waste, whilst ensuring quality

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2
Q

Define capital intensity

A

Business processes that require large amounts of investment: machinery, plant, property etc.

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3
Q

Define labour intensity

A

Where a business needs a large workforce in relation to output

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4
Q

Define mothballing

A

Taking certain assets out of practice that should still function properly but are no longer needed

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5
Q

Define Job Production

A

Production of single unique units usually done by a highly skilled employee for specialised products.

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6
Q

Define batch production

A

A standardised production process where products can be made in relatively large quantities but the system can be modified to adjust the specification.

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7
Q

Define flow production

A

A highly automated and standardised production process which is continuous to achieve economies of scale

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8
Q

Define cell production

A

A production process where teams of workers work together to produce an entire product or part of a product

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9
Q

Define efficiency

A

Making the best use of all the resources of a business

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10
Q

Define capacity utilisation

A

The use a business makes of its resources

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11
Q

Define Kaizen

A

A Japanese philosophy of continuous improvement of working practices

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12
Q

Define buffer stock

A

Stock that is held to help a business cope with unforeseen events

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13
Q

Define Just In Time (JIT)

A

A manufacturing method of keeping stock levels to a minimum and capital being freed up. This relies on raw materials being delivered right as they are needed on the production line.

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14
Q

Define inventory

A

The supplies and stock held by a business. This can include: raw materials, work-in-progress and finished goods.

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15
Q

Define quality

A

The extent to which a product or operation meets its customers requirements.

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16
Q

Define Quality Control

A

A system of maintaining quality where the product is tested and checked at the END of the production line.

17
Q

Define Quality Assurance

A

The maintenance of quality in a service or product whereby quality is monitored and checked THROUGHOUT the production process

18
Q

Define Total Quality Management (TQM)

A

A system of management based on quality being the priority throughout the organisation and being the responsibility of every employee no matter their role.

19
Q

Define quality circles

A

A small team of people who form to work on a specific issue or problem where quality is a concern or an opportunity for improvement is identified.