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miss duddigan-resource management Flashcards

1
Q

what are the 4 methods of production

A

job
batch
flow
cell

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2
Q

job production

A

-used for one-off times produced by skilled workers
-e.g wedding dress

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3
Q

disadvnatges of job production

A

-each product take long time to make
-means productivity is lower
-skilled workers will need to be payed high wages
-means increased costs
-less chance of economies of scale as products need to be made individually rather then in bulks
-higher unit costs means higher prices must be charged

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4
Q

advantages of job production

A

people will get a unique product hand made
so customers are more willing to pay higher prices

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5
Q

flow production

A

use of an assembly line to produce identical products
e.g chocolate bars
ech worker does there task then passed on
like a flow

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6
Q

advantages of flow production

A

most efficient
can be continious, no stoppages
can use machines
can operate 24 hours
allows a benefit for economies of scale to be achieved as can buy raw materials in bulk
alllows for more competitive/lower prices charged
mass market most liekly tp use as sell large volumes of identical products

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7
Q

batch production

A

makes small batches of differnt products
products in each small batch are identical to one another
one batch made, production stopped and equipment is adjusted e.g cleaned
then next batch of products are made

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8
Q

advantages of batch production

A

higher production then job production as each batch consists of identical products
however
lower production than flow production as have to clean/ adjust q=equipment between each batch as not identical to the batch before
can buy raw materials in bulk so can achieve economies of scale

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9
Q

disadvantages of batch production

A

might have to store these raw materials
stoppage between each batch to adjust equipment

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10
Q

disadvnatges of flow production

A

machinery may stop working
as producting identical products workers may get bored and leave meanign absentissm is higher
repitiive tasks can be boring

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11
Q

cell production

A

flow divided into a set of tasks
each task completed by work group
e.g for cars each gorup may be responsible for assembiling each part of a car

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12
Q

advantages of cell production

A

may cause increase in pride as workers feel more accomplished by doing something with group of people

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13
Q

advantages of machinery with levels of productivity

A

-can operate 24 hours
-can carry out tasks quicker then humans
-work for more hours in day, dont need rest breaks
-

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14
Q

disadvantages of machinery on productivity

A

-may break down
-to alter production, may need to install whole new software
-for humans, they would be much easier to alter production

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15
Q

efficiency

A

when production happens at an overall minimum average cost

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16
Q

ways in which a business can increase efficiency

A

increasing productivity
-cutting costs involving production of a product
-

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17
Q

labour intensive firms

A

uses more people rather then machinery
e.g NHS as need more people rather then machinery to solve problems
labour intensive countries e.g China where labour is cheap

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18
Q

advantages of labour intensive firms

A

dont havr to buy expensive machinery
humans can be retrained to carry out new task wheras for machinery, it will need to be brought/replaced
can suggest ways to imporve quality

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18
Q

disadvanatges of labour intensive firms

A

harder to manage people then amchines e.g emotions feelings
people can be unreliable (call in sick)
wont work without rests/breaks

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19
Q

capital intensive firm

A

firm that uses more machinery rather then people
larger firms tend to be more capital intensive as need more to be produced

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20
Q

advanatges of capital intensive firms

A

operate 24 hours
dont need breaks
easier to manage
more precise
no chnace of human error

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21
Q

disadvnatages of capital intensive firms

A

very expensive to buy
only usually suited for one task wheras humans can do multiple differnt tasks
machine breaks down, can lead to long production delays
risks sales being missed and repuation decreasing
if machine replaces workers, workers may feel unmotivated

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22
Q

capacity utalisation

A

how much capacity a business is using

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23
Q

capacity utilisation calculation

A

current output divided by maximum output times 100

23
disadvantages of working at over 100% capacity utalisation (over-utalisation)
no down time-machines are on all time- no time for equipment maintenace shortening time machine can wokr for no margin of error-everything has to be perfect everytime which can cause stress to workers mistakes are more likely as workers are working flat out
24
ways a business can increase their capacity
-using their facilities more. making people work 2 times a week rather then 1 -buy more machines -increase staff levels -if rise in demand is temporary, business might outsource
25
what is outsourcing
where business uses another firm to do some work on its behalf e.g packaging it in store with own label
26
under utalisation
inefficient as not getting good use of machinery already have
27
disadvantages of under utilisation
workers may lose motivation as dont have enough to do also less chnace of promotion negative brand image e.g shelves werent all full gives bad impression on customer
28
managing stock
store of raw materials max amount of stock business wants to hold usually depends on how large stock room is flow prodcution would mean lot of stock needed
29
what is a minimum amount of stock level called
buffer stock depends on warehouse, whether product is perishable or not
30
perishable
things tht go out of date e.g food
31
advantages of buffer stock
whats needed to avoid running out of stock mass markets more likely to need more buffer stock as have more to consisitently produce and if not, can risk customer loyalty being lost also good incase theres a sudden increase in demand
32
disadvantages of buffer stock
to hold buffer stock, costs are involved e.g storage costs for warehouse or refridgerator etc increase in wastage costs if products are perishable and not used in time
33
why do dynmaic markets have a high risk of wasted stock
as makret constantly changing meaning things go out of fashion very quickly increases risk of opportunity cost-money could go to something better
34
what is high stock in costs
this is where business ends up with too much costs being spent on holding stock bad for smaller businesses with little money also bad for dyanmaic markets whos markerts are consistently changing
35
what is stock out costs
where business runs out of stock demotivatinf for staff as wont have any work to do
36
lean production
effient form of production focuses on waste minimisation using as few resources(time and money) to make product can also involve recycling and re-using materials in house
37
just in time management
method of lean production aims to reduce waste of materials having as little stock as possible products avaliable just in time for when customer needs them
38
advnatges of JIT managment
storage costs are reduced cash flow improved as money not tied up in stock less waste as less out of date or damaged stock lying about business more flexible so can deal with changes in demand
39
disadvantages of JIT management
having litle stock means firm relies on lots of frequent deliveries from suppliers can be stressful for staff supplier may be unreliable and firm may end up running out of stock can not benefit from economies of scale as not buying in bulk
40
quality control
checking goods after you've made them or when arrive from suppliers to check anything from them often done by quality inspectors
41
quality assurance
introducing measures throughout production process checking throughout product checked at each stage of production process
42
advantages of quality asurance
-prevents product being chucked away as checked throughout -prevents errors -prevents aim to get it right first time/pressure -
43
advanatges of qulaity control
detects errors and puts them right more consistent not having to check throughtout stopping/starting
44
why can quality assurance be more motivating than quality control
workers get to self check their work which can be highly motivating
45
what is total quality management
where quality is the centre of everything a business does big part of businesses culture idea that every employee in every department focuses on quality
46
advantages of TQM
all employees are involved meaning can help them bond as a team
47
disadvantages of TQM
can demotivate staff-can be lot of effort too consider quality in all parts of the firm
48
quality circles
where they meet at regular intervals to discuss quality control issues great way to get staff involved disadvanatge-managemnt meant not listen to floor staff and suggestions may be unrealistic
49
kaizen approach
lean production method employees reducing waste and constantly finding ways to be more efficient cheap for business to introduce disavnatge-only small changes at a time
50
what is inflation
overall increase of a price in goods and services within an economy
51
exchange rates
value of one currency in terms of another currency
52
example of an exchange rate
e.g. 1 pound worth 1.60 if then goes up so 1 pound worth-appreciated also said to strengthen power of another
53
barriers to entry
how easy it for new firms to enter market price war. undercut prices by predatory pricing
54
buyer power
buyers want as low as price as power they have the power
55
supplier power
supplier wants as high price as possible firm can make long term contract
56
threat of substitutes
how likely customers are to buy an alternative businesses can differentiate their product to keep customers interested
57

mock revision business (31 decks)

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