CHAPTER 15 PRODUCTION SYSTE,S FOR GLOBAL BUSINESS Flashcards
The _____ _______ is the means by which a company changes raw materials into finished goods.
production process
FLOWCHART OF PRODUCTION PROCESS
Resources (natural, human, capital), Transformation (machines, process, facility), & Goods and Services
are the people and things a company uses to produce a good or service.
Resources
____ _____come from the air, water, or earth. These basic elements can be used to create goods. The fishing banks off the shores of Mauritania and the diamonds of Angola are examples of natural resources.
Natural resources
The _____ ______ of a country are its people
and their physical and intellectual abilities
human resources
are the funds and materials necessary to produce a good or service.
Capital resources
is the use of resources to create a good or service. A resource may be transformed by a machine (tractor, sewing machine, or computer), by a process (statistical analysis or teaching), or through a facility (colleges, restaurants, or health clinics).
Transformation
The final stage of the production process is the output of the ___ ____ _____ that have been created by the transformation activities. These _____ are now ready to enter the market as finished products for the consumer.
goods and services
Is the process of designing and managing a production system. The goal of ___ ____ is to produce a good or service at the lowest possible cost while maintaining the highest possible quality
operations management
is the method used to determine how much of a product to produce. Often that decision is based on the company’s previous sales.
Forecasting
is the time frame for producing a good or service. Operations managers consider the availability of raw materials, human resources, and facilities needed for production when they create schedules.
Scheduling
A method of monitoring the amount of raw materials
and completed goods on hand is called
inventory control
This method ties a manufacturer closely to a material supplier so that the raw materials are provided only when the production process needs them.
just-in-time (JIT)
method involves using human hands and bodies as the means of transforming resources into goods and services.
manual production
systems, machines perform the work. A machine
offers some advantages to production. The equipment performs tasks quickly
and precisely and does not get bored by repetition.
automated production systems