Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

A level Business > 3.4 Operations > Flashcards

3.4 Operations Flashcards

1
Q

6 operational objectives

A

Quality, cost, added value, volume, dependability, environment

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

4 operational measures

A

labour productivity, capacity, capacity utilisation, unit costs

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

factors influencing labour productivity

A

skills, fixed assets, organisation + external factors (suppliers etc..)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

labour productivity formula

A

output per period divided by no. of employees

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

labour productivity formula 2

A

Revenue divided by no. of employees.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

labour productivity formula 3

A

labour hours divided by no. of units produced

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

5 types of lean production methods

A

Time based management, simultaneous engineering, cell production, just in time, kaizen

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Importance of efficiency

A

Minimise unit costs = possibly give a competitive advantage, max profit margins

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Define capacity utilisation

A

% of the maximum capacity the business is operating at in a given period with their set of resources

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

How to increase capacity utilisation

A

New tech, introduce ‘slack’, seasonal staff overtime, outsourcing

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

How to decrease capacity utilisation

A

breakdown in machinery, poor maintenance, employee disruption

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Capacity utilisation formula

A

(Actual level of output divided by max. level of output) x100

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Why produce at <100% capacity?

A

Lower/seasonal demand, avoid rushed production, demotivating, loss of sales if repairs required or sudden changes in demand

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Define productivity

A

Efficiency of output over a given period of time.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Ways to improve productivity

A

Training, motivation, capital investments, improve quality/organisation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

What is lean production

A

efficiency method = minimise waste, staff + unit costs

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

Define Kaizen

A

continuous improvement and small changes to improve quality and efficiency (create a culture in the bus)

18
Q

Just in time benefits

A

lower storage costs, less working capital tied up, less likely for stock to perish

19
Q

Just in time drawbacks

A

Delayed supplied = possibility of no stock if delayed, high initial investment in stock control tech

20
Q

5 points of waste hierarchy

A

Avoidance/minimisation, reuse, recycling, recovery, disposal

21
Q

Types of waste

A

Over produce, defects, motion waste, excessive stock holding, waiting, poor ergonomics

22
Q

Define Economies of Scale

A

Unit costs fall as output rises

23
Q

5 internal economies of scale

A

buying, tech (specialist equip), marketing, network, finacing

24
Q

Explain external economies of scale

A

Reductions in unit costs benefit external companies when their industry expands

25
Q

Who benefits from External EoS

A

Suppliers

26
Q

Define diseconomies of scale

A

Unit costs rise as output rises

27
Q

Why can diseconomies of scale happen?

A

Too high capactiy utilisation, poor communication, breakdown of staff

28
Q

What is the resource mix

A

Capital intensive and labour intensive

29
Q

symptoms of labour intensive

A

Higher labour than capital costs, high variable costs = low BEP, benefits when access to low cost labour

30
Q

symprtoms of capital intensive

A

Capital costs higher than labour, mainly fixed costs = higher bep, access to LT + low cost financing

31
Q

Why is it important to meet customer expectation of quality

A

Customers are more: demanding, knowledgable (web), prepared to complain, able to share info of poor quality

32
Q

4 costs of poor quality

A

depleted customer base, ££££ to replace customers, wasted materals, competitive disadvantage

33
Q

3 quality methods

A

Quality control, quality assurance, total quality management

34
Q

Quality control is:

A

checking and reviewing production, detects defects not prevent

35
Q

Qualty assurance is:

A

focused on design/development stage = quality ‘built in’

36
Q

Total quality management means:

A

Everyone responsible for ensuring quality = business attitude

37
Q

5 drawbacks of tqm

A

requires strong leadership, £ in training, bureaucratic potentiality, cost vs benefits, must trust staff

38
Q

TQM is concerned with?

A

what is causing waste, where is quality dropping?

39
Q

3 Benefits ot TQM

A

Motivational, reduce waste, no inspection costs

40
Q

Define outsourcing

A

Delegating a process to an external provider

41
Q

5 influences on outsourcing

A

Cheaper, quality (specialist supplier?), flexibility, help op objective, speed

42
Q

Influences on stock levels

A

unpredictability, perishability, rent, eos, supplier reliability, competetion

A level Business (7 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions