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Business Studies > Operations > Flashcards

Operations Flashcards

1
Q

Another name for flow production

A

Mass production

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2
Q

A business that uses flow production is always classed as

A

Capital intensive

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3
Q

When is a business classed as efficient

A

When number of inputs used to produce a high amount of output is high

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4
Q

Kaizen

A

Continuous improvements to working practices

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5
Q

Production

A

The action of making or manufacturing from components or raw materials

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6
Q

Job production

A

Where 1 single product is made at a time

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7
Q

Advantages of job production

A

Motivated workers

Higher prices can be charged

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8
Q

Disadvantages of job production

A

Skilled labour is expensive

Hard to speed up if demand increases

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9
Q

Flow production

A

Uses production lines with continuous movements of items through the process

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10
Q

Advantages of flow production

A

A business can make larger quantities

More complex designs made in shorter times

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11
Q

Disadvantages of flow production

A

High costs to buy machinery

Low motivation of staff

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12
Q

Lean production

A

Lean production tries to use as few resources as possible

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13
Q

Just-in-time

A

A business does not keep stocks of parts in a warehouse

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14
Q

Advantages of just in time

A

No wasteage

Cost saving

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15
Q

Disadvantages of just in time

A

The business won’t be able to meet unpredicatble rise demands

Not able to quickly replace damaged

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16
Q

Opposite of just in time

A

Just in case stock management

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17
Q

Procurement

A

Process when businesses buy raw materials, component, products, services, and other resources from suppliers to produce their own products and services

18
Q

Benefits of JIT for stock control

A

Less stock held

No warehouse costs

19
Q

Drawbacks of JIT for stock control

A

Making more frequent purchases

No economies of scale

20
Q

Direct procurement

A

Buying raw materials that are used in the making of the product, or delivery of the service

21
Q

Indirect procurement

A

Buying maintenance contacts, ICT and other support items

22
Q

Factors when choosing suppliers

A

Quality and reliability

Communication

Good service

23
Q

Logistics

A

Activity of transporting goods to customers

24
Q

Supply chain

A

All the businesses which provide parts of the product until it gets to the consumer

25
Q

Lead time

A

Time difference between a business ordering and recieving stock

26
Q

TQM Total Quality Managment

A

A management approach to long term success through customer satisfaction

27
Q

Advantages of TQM

A

Lower costs

Improved quality so more satisfied customers

28
Q

Disadvantages of TQM

A

Might be expensive to train staff

Employees may not like the extra responsibility

29
Q

Outsourcing examples

A

Production

Payroll

30
Q

Franchise

A

When a small business owner buys the rights to sell the goods and services of a large company

31
Q

Quality

A

Providing products that consistently meet customer expectations

32
Q

Franchisor

A

The business that allows another business to trade under its name

33
Q

Which area are franchisors most commonly found

A

Fast food

34
Q

Outsourcing

A

A business decides to use another business to carry out its work process

35
Q

Post sales service

A

Services that are carried out by the business after the buyer has paid for the goods

36
Q

E-commerce

A

Any form of business activity conducted electronically can be defined as e-commerce

37
Q

Disadvantages of social media

A

Can be difficult to measure the return on investment

May damage business reputation if failing to respond to negative feeback

38
Q

One of the first stages of the sales process

A

Employees demonstrating excellent product knowledge to potential customers

39
Q

Which of the following may be a reason a customer may choose to purchase a product in line rather than in store

A

Increased product variety

40
Q

Which area of customer service does amazon pride itself

A

Speed of delivery

41
Q

1 key method business use to measure customer retention rates

A

Customer loyalty rates

42
Q

Advantages to customers providing virtual customer assisstant support

A

Answer to common questions can be found

Business Studies (5 decks)

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