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Business IGCSE > Business: Unit 4-Operations Department > Flashcards

Business: Unit 4-Operations Department Flashcards

1
Q

operations department

A

takes inputs and changes them into outputs for customer use

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2
Q

productivity(formula)

A

output
_______
input

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3
Q

productivity of labour(formula)

A

no of hours/output
_______________
no of employees

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4
Q

cost per unit

A

total cost
________
total output

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5
Q

buffer inventory(definition, 3 adv, 4 disadv)

A

inventory held to deal with uncertainty in customer demand and deliveries of supplies

+ can easily respond to customer’s wants
+might win customers when competition is low on cost
+continuity of production process

  • costs money
  • may become out of date
  • wastage
  • selling out-of-date stock cheaper
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6
Q

lean production

A

techniques used by businesses to decrease waste therefore increasing efficiency

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7
Q

types of waste

A 
overproduction 
waiting
motion
defects
over-processing
unnecessary invention
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8
Q

benefits of lean production(3)

A
  • higher labour productivity
  • less stock needed
  • improved health and safety
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9
Q

Kaizen(definition, 3 advantages)

A

philosophy where emploees work together to achieve regular improvements
+increased productivity
+reduced amount of space needed
+work-in-progress is reduced

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10
Q

just-in-time(definition, 2 +,2-)

A

reducing/eliminating the need to hold inventories of raw materials and unsold inventories

+quick selling->better cashflow
+reducing inventory costs

  • suppliers must be on time
  • unexpected high orders
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11
Q

cell production

A

production line is divided into separate units each maing a part of the finished product

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12
Q

JOB PRODUCTION(definition, 4 +, 5 -)

A

a single product is made at a time, products are made specifically to order

+suitable for one off’s and personalised services
+more varied work for workers->increased motivation
-> greater job satisfaction
+flexible and high quality goods/services->higher prices
+product meet exact customer requirement

  • skilled labour raises costs
  • mistakes might be expensive to correct
  • materials might have to be specially purchased
  • production takes a long time
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13
Q

BATCH PRODUCTION(definition, 4+,3-)

A

a quantity of a product is produced, than a quantity of a different product is produced

+ flexible way of working
+variety to workers
+variety of products
+if one machine breaks down, production can continue

  • expensive-more space needed as products have to be moved to new production stage
  • machines have to be reset ->delay
  • warehouse space
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14
Q

MASS PRODUCTION(definition,5 +, 4 -)

A

large quantities of products are produced in a continuous process
+high output
+cost of making each item is kept low by high sales
+may benefit from economies of scale
+automated production
+no need to move goods around

  • boring for workers
  • storage requirements-> high costs of inventories
  • initial capital cost is very high
  • if 1 machine breaks down, the whole production line stops
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15
Q

technology imprivement(3 e.g, 5 +, 4-)

A

automation, mechanisation, EPOS

\+production increases
\+new types of jobs
\+better quality
\+quicker decision making
\+quicker communication
  • unemployment rises
  • expensive investment
  • employees unhappy with changes
  • outdating technology
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16
Q

fixed costs

A

costs whcih do not vary with the number of items sold/produced

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17
Q

variable costs

A

costs which vary with the number of items sold/produced

18
Q

total costs(f)

A

total fixed costs+total variable costs

19
Q

average cost(f)

A

total cost of production
____________________
total output

20
Q

break-even analysis(f)

A

total fixed costs
____________
price-variable costs

21
Q

safety margin(f)

A

current output-break-even output

22
Q

using cost data helps with (4)

A
  • setting/changing prices
  • deciding wether to stop production
  • deciding on the best location
  • deciding on future investments
23
Q

advantages(using cost data)

A

+expected profit/loss at any level of output
+impact on decisions of profit/loss
+calculate safety margin

24
Q

limitations(using cost data)

A
  • assumes all goods are sold
  • assumes scale of production doesn’t change
  • assumes costs&revenue are linear
  • only calculates break-even point of production
25
Q

economies of scale

A 
managerial
marketing
technical
financial
purchasing
26
Q

diseconomies of scale

A

poor communication
low morale
slow decision-making

27
Q

Quality

A

a good/service which meets customer expectations

28
Q

advantages of good quality

A 
\+establish brand image
\+build brand loyalty
\+increase sales
\+maintain good reputation
\+attract new customers
29
Q

if quality is not mantained

A
  • lose customers to other brands
  • have to replace faulty products which raises costs
  • customers tell other people about their bad experience->creates bad reputation
30
Q

QUALITY CONTROL-3 facts

A
  • checking only finished goods
  • detection of components that are faulty
  • considerable waste
31
Q

TOTAL QUALITY MANAGEMENT-3 facts

A
  • everyone thinks about quality
  • customer needs are paramount
  • quality is the aim for everything
32
Q

QUAILTY ASSURANCE-3 facts

A
  • check during and after production
  • aim is to stop faults and attain standards
  • helps with team working&responsability
33
Q

Quality Control(definition 2 +, 3-)

A

Checking for quality only at the end of the producrtion process

+eliminates faults before they get to client
+less training requiered
-expensive
-identifies the prblem but it’s difficult to solve it
-increased costs for redundancies

34
Q

Quality Assurance(definition, 2 +, 2-)

A

Checking for quality standards throughout the production process
+eliminates faults before they reach customers
+reduces costs because products don’t have to be scrapped

  • expensive to train employees
  • relies on employees following intructions of standards set
35
Q

Total Quality Management(definition, 4 +, 2 -)

A

Continous improvement of products&processes by focusing on quality at each step of production

+quality becomes built into every part of production
+eliminates all faults before the get to clients->no complaints-> improved brand image->higher sales
+reduced costs
+waste is removed & efficiency is increased

  • expensive to train employees
  • relies on employees to follow TQM ideology
36
Q

quality control vs quality assurance(5)

A

QUALITY CONTROL VS QUALITY ASSURANCE
focused on product vs focused on process
reactive vs pro-active
line function vs staff function
finds defects vs prevents defects
testing vs quality audits

37
Q

why does location matter:

A
  • long term strategic decisions
  • very costly decision
  • it has a lot of factor to account for
38
Q 
factors influencing locations-
Manufacturing Businesses(6)
A
  • production method
  • proximity to raw materials
  • cost benefits
  • availability of skilled/unskiled labour
  • gov. incentives and regulations
  • trnsport and communication
39
Q 
factors influencing locations-
Service Businesses(5)
A
  • cost of premises
  • proximity to customers
  • government incentives and regulations
  • accessibilty
  • availability of skilled labour
40
Q

reasons for relocation to different countries(4)+chains of reasoning

A
  • SATURATED DOMESTIC MARKET
  • > if demand of local market fails->business might seek new markets->results in relocating to a different country
  • CHEAPER LABOUR
  • > minimum wage variations->siginificantly reducing business costs->improves profit margin
  • CHEAPER RENT
  • > rent might be cheaper->reduces costs
  • PROXIMITY TO RAW MATERIALS
  • > reduces transportation costs and time->increases efficiency
41
Q

legislations

A

health and safety
marketing laws
data protection

42
Q

trade barriers

A

quota’s on imports-> business might choose to relocate in a country so they are no longer exporting to that country->avoids being affected

Business IGCSE (5 decks)

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