2.4 Resource Management

Question 1

Production

Answer 1

Total amount of output produced in a time period

Question 2

Job Production

Answer 2

Producing one bespoke item at a time to meet specific requirements asked of by customers e.g tailored suit

Question 3

Lead Times

Answer 3

Time between the initiation and the completion of the production process

Question 4

Batch Production

Answer 4

Goods made in batches and can be switched over to make something different on the same production line to meet varying customer demands

Question 5

Flow Production

Answer 5

Different operations can be carried out in a continuous sequence

Question 6

Cell Production

Answer 6

Workplace is divided into work stations (cells), workers in each cell responsible for making a product family

Question 7

Productivity

Answer 7

Output per unit of input per time period, measure of efficiency

Question 8

Capital Employed

Answer 8

Amount of capital invested to operate

Question 9

Efficiency

Answer 9

Production at minimum average cost

Question 10

Labour Intensive Production

Answer 10

Labour is primarily used to produce the good or service

Question 11

Capital Intensive Production

Answer 11

Machines are primarily used to produce the good or service

Question 12

Capacity Utilisation

Answer 12

Maximum level of output a business can produce in a given period

Question 13

Buffer Stocks

Answer 13

Certain amount of stock that is held in case of unexpected events or orders meaning that they can still be met without a delay

Question 14

Just in Time (JIT) Management of Stock

Answer 14

Stock is ordered just as it is needed in the production
process, hold no buffer stock

Question 15

Lean Production

Answer 15

Aims to reduce resources used in production

Question 16

Quality Control

Answer 16

Process that ensures product quality is maintained or improved through the reduction in mistakes

Question 17

Quality Assurance

Answer 17

Acts a preventative approach, all employees ensuring quality at each and every stage of the production process

Question 18

Quality Circles

Answer 18

A group will meet on a regular basis to solve production problems and suggest improvements that can be made in regards to the current systems being used

Question 19

Total Quality Management (TQM)

Answer 19

Quality is at the centre of
everything that an organisation does

Question 20

Kaizen

Answer 20

Continual improvement, process of constantly introducing small incremental changes in order to improve the production process

Question 21

Quality Management

Answer 21

Quality is an important factor in gaining a competitive advantage as it is associated with consistency