5C Flashcards
Increased investment in technology(n.)
(Mirelles good)Increased investment in technology involves the implementation of automated and computerised processes in a business’ operations system.
Improving quality in production(n.)
Q3)5C)Improving the quality in production involves a business implementing processes that increase the perceived value of a good or service.
Initiating lean production techniques(n.)
Q5)5C)Initiating lean production techniques involves a business adopting lean management approaches that reduce waste in production whilst simultaneously [improving customer value.]
Redeployment of resources(n.)
Redeployment of resources(n.)=involves reallocating natural, labour, and capital resources to different areas of the business to improve productivity and effectiveness.
In increased investment in technology(n.), what are some technological strategies
-Automated production lines(n.)=FIND DEF
-Robotics(n.)=FIND DEF
-Computer-aided design(n.)=FIND DEF
-Computer-aided manufacturing techniques(n.)=FIND DEF
-Artificial intelligence(n.)=FIND DEF
-Online services(n.)=FIND DEF
Automated production lines(n.)
-Automated production lines(n.)=[Machinery and equipment] that are [arranged in a sequence], where the [product is developed] as it proceeds [through each step].
Robotics(n.)
-Robotics(n.)=[Programmable machines] that are [capable] of [performing specified tasks.]
Computer-aided design(n.)
-Computer-aided design(n.)=[digital design software] that [aids the creation], [modification], [and optimisation] of a [design] and the [design process.]
Computer-aided manufacturing(n.)
-Computer-aided manufacturing(n.)=the [use of software] that [controls] and [directs production processes] by [coordinating machinery and equipment through a computer.]
Artificial intelligence(n.)
-Artificial intelligence(n.)=[Using computerised systems] to [simulate human intelligence] and [mimic human behaviour.]
Online services(n.)
-Online services(n.)=[Services that are provided via the internet.]
In improved quality in production(n.), what are some quality improvement strategies.
Quality control(n.)
Quality assurance(n.)
Total quality management(n.)
-Quality control(n.)=
-Quality control(n.)=[Inspecting] a product at [various stages] of the [production process] to [ensure] it [meets designated standards] and [discarding] those that are [unsatisfactory.]
-Reactive(n.)=Responding to a situation after something has occurred.
-Quality assurance(n.)=
-Quality assurance(n.)=When a [business achieves a standard of quality] in its production after an [independent body assesses] its [operations system.]
-Proactive(adj.)=Performing actions to prevent problems before they occur.
-Total Quality Management(n.)=
-Total Quality Management(n.)=[A holistic approach] whereby [all employees] are [committed] to [continuously improving the business’ operations system] to [enhance quality] for customers.
-The aim of TQM is to create zero defects.
-Zero defects(n.)=Creating problems that contain no problems with its quality.
In initiating lean management production techniques(n.), what are some lean management principles.
Pull(n.)
One-piece flow(n.)
Takt(n.)
Zero defects(n.)
-Pull(n.)=
-Pull(n.)=production of the good or service [only starting] when a [customer places an order.] (The customer order ‘pulls’ at the production system with their demand)
-One-piece flow(n.)=
-One-piece flow(n.)=involves the [operation process] [focusing on one good or service] at a time.
-takt(n.)=
-takt(n.)=[rhythm], whereby [all the steps in the production] of the good or service are [synchronised] to create a [‘continuous flow’.]
-zero defects(n.)=
-zero defects(n.)=[striving for perfection] by [continuously improving] until the operations process achieve zero defects.
Or zero defects(n.)= [striving for perfection] by [continuously improving] until the operations process [achieve zero faulty products in production].
In redeployment of resources(n.). What are the types of resources redeployed.
Natural resources(n.)
Labour resources(n.)
Capital resources(n.)
What is labour resources(n.)
labour resources(n.)=human resources(i.e. employees’ skills and effort)
What are natural resources(n.)
natural resources(n.)=Resources from the land, such as raw materials
What are capital resources(n.)
capital resources(n.)=facilities, buildings, machinery, equipment, and component parts.
Increased Investment in technology(n.) effect on KPI’s=
Number of sales
Percentage of market share
Rate of productivity growth
Net profit figures
Number of website hits
Level of wastage
Number of workplace accidents
Number of customer complaints
Number of sales
Percentage of market share
Rate of productivity growth
Net profit figures
Number of website hits
Level of wastage
Number of workplace accidents
Number of customer complaints
Improving quality in production(n.) effect on KPI’s=
Number of customer complaints
Number of sales
Net profit figures
Percentage of market share
Level of wastage
Number of website hits
Rate of productivity growth
Number of customer complaints
Number of sales
Net profit figures
Percentage of market share
Level of wastage
Number of website hits
Rate of productivity growth
Initiating Lean production techniques(n.) effect on KPI’s=
Level of wastage
Percentage of market share
Rate of productivity growth
Net profit figures
Number of website hits
Number of customer complaints
Number of sales
Level of wastage
Percentage of market share
Rate of productivity growth
Net profit figures
Number of website hits
Number of customer complaints
Number of sales
Redeployment of resources(n.) effect on KPI’s=
Net profit figures
Level of wastage
Rate of productivity growth
Rates of staff absenteeism
Level of staff turnover
Net profit figures
Level of wastage
Rate of productivity growth
Rates of staff absenteeism
Level of staff turnover
What is labour resources(n.)
Labour resources(n.)=human resources(i.e. employees’ skills and effort)
What are natural resources(n.)
natural resources(n.)=Resources from the land, such as raw materials
What are capital resources(n.)
Capital resources=facilities, buildings, machinery, equipment, and component parts.
