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Business A Level > Operations > Flashcards

Operations Flashcards

1
Q

What are the 6 operational objectives?

A

Lower Unit Cost
Improve quality
Response speed/flexibility
Create added value
Environmental
Dependability

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2
Q

Reduce unit cost obj.

A

higher profit margin
increase scale= eos

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3
Q

Improve quality obj.

A

increase customer satisfaction
increase rep
lower price sensitivity

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4
Q

Response speed/flexibility obj.

A

adapting to change
fulfilling orders quick
delivery met

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5
Q

Create added value obj.

A

increase profit margin

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6
Q

Environmental obj.

A

consider community
pollution produced

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7
Q

Dependability

A

customer needs/wants met?

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8
Q

average unit cost formula?

A

total costs/ units produced

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9
Q

labour productivity formula?

A

total output/ no. of employees

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10
Q

How to increase labour productivity?

A

training
reward system
tech
management

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10
Q

costs of capacity

A

equipment
facilities
labour

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11
Q

Capacity Utilisation formula?

A

actual output/ maximum output x100

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12
Q

actions if capacity utilisation is low?

A

reduce capacity size
increase sales

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13
Q

actions if capacity utilisation is high?

A

outsource
reduce demand short term

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14
Q

Adding Value- definition

A

the EXTRA value a business creates through production, distribution or marketing process

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15
Q

Efficiency- definition

A

production maximised based on given level of factors of production (CELL)

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16
Q

Importance of increasing efficiency?

A

reduce unit costs- increase price (demand)/profit margin
use efficacy gains- increase quality/wages(motivation)

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17
Q

How to improve efficiency?

A

-use capacity better
-increase labour productivity
-lean production

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18
Q

Drawbacks of improving efficiency?

A

Cost of training
Investment costs
Waste/lack of demand

19
Q

Quality expectations

A

Performance
Appearance
availability
reliability
value for money

20
Q

Benefits of good quality

A

Customer satisfaction
repeat purchase
customer recommendation
low market cost
customer loyalty

21
Q

Quality Assurance

A

Maintenance of target quality by attention at every stage of the process

22
Q

Quality Control

A

Maintaining standards by inspecting output for quality

23
Q

Capacity

A

Maximum output a business can produce/handle

24
Q

difficulties in increasing labour productivity

A

affect on output
job rotation/redundant = resistance or unmotivated

25
Q

JIT benefits

A

Reduce waste
Greater productivity
less capital tied up in stock

26
Q

JIT drawbacks

A

Higher average unit costs (no eos)
Reliant on suppliers
may not meet demand

27
Q

Outsourcing

A

One of your business processes is done by another company

28
Q

What makes an effective supplier?

A

Price
Quality
Reliability
Capacity
Communication
Financially secure

29
Q

what is lead time

A

time from when order was placed to when order arrives

30
Q

aim of lean production

A

reduce waste

31
Q

processes that help lean production

A

kaizen
Andon cord- stops and highlights production faults

32
Q

influences on inventory held

A

type of resources- obsolete
assets- warehouse space?

33
Q

what is TQM

A

everyone is committed to focus on continuous improvement of quality of output

34
Q

advantages of TQM

A

customer at heart
motivated workforce
reduce waste
no inspection cost

35
Q

disadvantages of TQM

A

requires strong leadership
training invest
bureaucratic

36
Q

kaizen

A

culture of continuous improvement

37
Q

benefits of jic

A

stock avaible to meet demand
less supplier reliant
eos possible

38
Q

drawbacks of jic

A

increase storage costs
money tied up in stock
stock might perish

39
Q

influences on choice of supplier

A

price
dependability
quality
communication
financially secure

40
Q

supply chain

A

all providers of resources at different stages of operations process

41
Q

what is vertical integration?

A

combination of 2 or more stages of production done by separate companies

42
Q

strategic vs commodity suppliers

A

strategic= cruical to success
commmodity= can be found elsewhere

43
Q

outsourcing benefits

A

increase quality/ efficiency
increase capacity

44
Q

outsourcing negatives

A

cost
poor quality=impact

45
Q

how to match demand changes

A

flexible workforce
queuing systems
outsourcing
produce to order

Business A Level (8 decks)

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