Business 2.3 Flashcards

1
Q

Batch production

A

producing a limited number
of identical products.

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2
Q

Flow production

A

continuous production of
identical products, which gives scope for high
levels of automation.

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3
Q

Job production

A

one-off production of a one-off
item for a single customer.

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4
Q

Productivity

A

a measure of efficiency, usually
output per person per time period (for example,
Nissan UK’s 98 cars per worker per year).

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5
Q

Automation

A

using machines that can operate
without people.

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6
Q

Flexibility

A

the ability to switch quickly and
easily from one task to another.

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7
Q

Robots

A

machines that can be programmed to
do tasks that can be done by humans, such as
welding, spray painting and packing.

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8
Q

Bar gate stock graph

A

a diagram to show
changes in the level of stock over time.

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9
Q

Buffer (stock)

A

the minimum stock level held at
all times to avoid running out.

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10
Q

Just in time (JIT)

A

running the business with so
little stock that new supplies have to arrive ‘just
in time’ before they run out.

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11
Q

Stock(s)

A

items held by a firm for use or sale,
for example components for manufacturing or
sellable products for a retailer.

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12
Q

Availability

A

knowing how to get the right
supplies quickly – just when you need them.

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13
Q

Logistics

A

ensuring that the right supplies will
be ordered and delivered on time.

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14
Q

Procurement

A

obtaining the right supplies from
the right supplier.

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15
Q

Trust

A

building a business relationship in which both sides know that the other won’t let
them down.

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16
Q

Culture

A

‘the way we do things round here’; in
other words, the accepted attitudes and practices
of staff at a workplace.

17
Q

Quality control

A

putting measures in place to
check that the customer receives an acceptable
level of quality.

18
Q

Warranty

A

the guarantee by the producer that it will repair any faults in a product for a specific period of time – often one year.

19
Q

Customer engagement

A

the attempt to make a
customer feel part of something rather than an
outsider.

20
Q

Customer feedback

A

comments, praise
or criticisms given to the company by its
customers.

21
Q

Post-sales service

A

service received after
the purchase is completed, perhaps because
something has gone wrong or as a way of
promoting customer engagement.

22
Q

Product knowledge

A

how well staff know all
the features of the products and the service
issues surrounding the products, such as the
precise terms of Kia’s seven-year warranty on
its new cars.