Business Operations

Question 1

Production (or operations)
management

Answer 1

refers to all the activities in managing the
transformation process.

Question 2

Production

Answer 2

is the process of changing inputs such as labour services into goods and services that can be sold

Question 3

Job Production

Answer 3

is a method of production in which a product is supplied to meet the exact requirements of a customer.

Question 4

Flow Production

Answer 4

occurs when an item moves continuously from one stage of the process to another.

Question 5

Speicalisation

Answer 5

occurs when individuals focus on a limited number of tasks

Question 6

Lean production

Answer 6

is an approach to production that aims to minimise waste.

Question 7

Just-in-time (JIT) production

Answer 7

holds as little stock as possible.Items are ordered just in time to be used.

Question 8

Kaizen

Answer 8

means ‘continuous improvement’. It is an approach to production that aims to achieve change from a series of small steps.

Question 9

Procurement

Answer 9

(or purchase) involves selecting suppliers, establishing the terms of payment and negotiating the contract.

Question 10

The supply chain

Answer 10

refers to all the businesses, people and activities that take part in the production processes from the start until it gets to the customer.

Question 11

Just-in-case (JIC) production

Answer 11

holds stocks just in case there is al delay from supplies or a sudden unexpected increase in demand.

Question 12

Purchasing economies of scale

Answer 12

occur when the cost per unit falls if large orders are placed with suppliers due to a bulk discount.

Question 13

Logistics

Answer 13

refers to the movement of goods, services, information and money throughout the production process.