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Business > Operations > Flashcards

Operations Flashcards

1
Q

What is operations?

A

Operations is the name given to the process of turning raw materials into finished articles

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2
Q

What are operations activities?

A

Producing the product, ensuring raw materials are suitable, managing stock/inventory- ensuring stock levels are not too low, ensuring that there is not too much stock, quality control- ensuring final products are of high standards

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3
Q

What is the production process?

A

Input- employees, equipment, machinery, raw materials process- the making of the product, output- the finished product ready for customers to purchase

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4
Q

What is the purchasing mix?

A

Factors that a business need to consider before deciding on a supplier

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5
Q

What are the purchasing mix factors to consider?

A

Quality, price of raw materials, can the supplier provide the business with the quantity needed, how far away is the supplier located, is the supplier reliable, how long does delivery take

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6
Q

What are the types of stock?

A

Raw materials, work in progress, finished goods

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7
Q

What are the consequences of holding too little inventory?

A

production may stop, employees paid for doing nothing, customers will receive their orders late- lose customers- poor reputation, lose profit

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8
Q

Consequences of holding too much inventory?

A

Increased costs- security costs, storage costs, insurance/ electricity costs, security costs, increased chance of theft, increased chance of deterioration, fashions may change and you will be left with unsellable inventory

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9
Q

What is the technology used in the inventory control?

A

Ordering using the internet e-commerce/email, EPOS/ spreadsheet records usage and new inventory arrivals- can automatically re-order your inventory, can be updated easily as inventory is sold, can tell your inventory levels at any time, environmentally friendly

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10
Q

What is job production?

A

The production of making a unique item from start to finish

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11
Q

What is batch production?

A

When a group of products are made, then a group of different but similar products are made

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12
Q

What is flow production?

A

The product being produced goes through various stages with parts being added at each stage

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13
Q

What are the advantages of job production?

A

meet customer requirements exactly, employee satisfaction, a high price can be charged

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14
Q

What are the disadvantages of job production?

A

High labour costs as skilled staff are required, time consuming to make the product, costs not recovered until the job is complete

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15
Q

What are the advantages of batch production?

A

Can produce various types of products to meet different customers needs, can keep costs low as raw materials can be bought in bulk, labour costs are lower as they do not have to be skilled

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16
Q

What are the disadvantages of batch production?

A

Time delays in resetting/cleaning equipment, production runs of small batched may be expensive, if machine breaks down whole productions stops, whole batch can be destroyed if there is a problem in a batch

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17
Q

What are the advantages of flow production?

A

Raw materials can be bought in bulk, standardised products are made, reduced wage bill, computer controlled so can work 24/7 without breaks

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18
Q

What are the disadvantages of flow production?

A

Customers individual needs are not met, if machines break down whole production stops, large demand required to use this production method

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19
Q

What are the factors influencing the method of production?

A

Finance available, skilled labour availability, the size/ demand from market, technology availability, product which is being produced, the size of the business/ premises

20
Q

Give examples of quality methods

A

quality control, wuality assurance, quality circles, benchmarking

21
Q

Describe quality control

A

The process of checking goods once they have been produced

22
Q

Describe benchmarking

A

Copying the standards of the market leader

23
Q

Describe training quality method

A

training employees to a high standard

24
Q

Describe raw materials quality method

A

using high quality raw material to produce a final product of high quality

25
Q

Advanatges of using machinery/ automation

A

can complete- dangerous work, dirty work, doesnt need breaks can operate 24/7, machinery is more reliable than labour, the job is done quicker than in labour

26
Q

What are the disadvanatges of using machinery?

A

process may not be suitable for machinery, breakdown of machinery causes process to stop, expensive to purchase, cost of repair/ maintance

27
Q

What are examples of ethical operations?

A

minimise wast, avoid using landfill. minimise pckaging, do not test on animals,using safe working practices

28
Q

What are the advantages of labour intensive?

A

can create unique one off products, avoids the purchase of machinery

29
Q

What are the disadvanategs of labour intensive?

A

Labour is expensive, quality and standards vary, limited to small output

30
Q

What are examples of ICT in operations?

A

EPOS used to monitor inventory levels, raw materials can be purchased through suppliers website,emails used ot order inventory

31
Q

What are the advanatges of capital intensive?

A

Consistent quality everytime, less employees have to be paid, machiners dont need breaks and can wokr 24/7

32
Q

What are the disadvanatges of capital intensive?

A

custoemr requirements cannot be met, high set up ocosts, machinery breakdowns can reduce or stop production, low employee motivation and job satisfaction

33
Q

Describe quality control

A

The process of checking goods once they have been produced

34
Q

Describe quality assurance

A

Checking quality against pre set standards

35
Q

Describe quality assurance?

A

Checking goods quality against pre set standards

36
Q

Describe quality circles

A

When employees volunteer to meet with management to discuss problem areas within the business

37
Q

What is the max level in a inventory control diagram

A

the highest amount of inventory that can be held for the lowest cost

38
Q

what is the min level on the inventory control diagram

A

the smallest amount of inventory that can be held

39
Q

what is the reorder level on an inventory control diagram

A

when an order for raw materials should be placed

40
Q

What is the reorder quantity on the inventory control diagram

A

the amount ordered at reorder level

41
Q

What is lead time on an inventory control diagram

A

The time between goods being ordered and them arriving

42
Q

What si max level

A

The highest amount of inventory that cna be held for the lowest cost

43
Q

What si min level

A

The smalles amount of inventory that can be held

44
Q

What is reorder level

A

When an order fpr raw materials should be placed

45
Q

What is reorder quantity

A

The amount ordered at reorder level

46
Q

What is lead time

A

The time between goods being ordered and them arriving

Business (20 decks)

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