operations Flashcards
remember the ways we operate in business
What is lean production?
An approach to production that emphasizes waste reduction and efficiency.
What are the main methods of production?
Job production, batch production, flow production, and mass production.
What is Just-in-Time (JIT) production?
A production method where materials are received and products are made only as they are needed to reduce inventory costs.
What is quality control?
The process of inspecting products to ensure they meet required quality standards.
What is quality assurance?
A process-oriented approach that ensures products meet quality standards and customer requirements through every stage of production.
What is supply chain management?
Managing the flow of goods and services from raw materials to the end customer.
What are the types of inventory management techniques?
Just-in-Time (JIT), Economic Order Quantity (EOQ), and ABC analysis.
What is capacity utilization?
The extent to which a business uses its production capacity.
What are economies of scale?
Cost advantages that businesses obtain due to the scale of operation, resulting in a reduced cost per unit as output increases.
