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Business Studies > Production > Flashcards

Production Flashcards

1
Q

operations management objectives

A

likely to be productive targets in order to meet demand and any long term productivity goal

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2
Q

why do operation objectives need to be clear

A

used (SMART)
employees know exactly what to do
good communication is important

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3
Q

what will the usefulness of operations objectives depend on?

A

no. of employees
right machinery
realistic targets

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4
Q

what does a business need to consider when setting operational objectives

A

size
other objectives
state of economy

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5
Q

give examples of operations management objectives

A

increase productivity

improve quality

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6
Q

adding value

A

difference between the actual price charged for a product and the actual cost of making it

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7
Q

advantages of added value

A

charge a higher price
target chosen market more easily
create a USP for a product

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8
Q

benefits to stakeholders of added value

A

consumers get a unique product
associate brand name with quality
shareholders benefit if profits increase

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9
Q

disadvantages of added value

A

cost of adding value might not be covered by price increase
competition make the added value not as desirable can’t increase price as much
elasticity of product

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10
Q

innovation

A

introduction of new idea, method of production or new equipment into production process

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11
Q

research and development

A

process that enables the creation of new or improved products to meet the needs of its consumers

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12
Q

why is research and development needed in a business

A

necessary to launch new products successfully (meet customer needs)
explore alternative materials
reduce waste
beat competition

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13
Q

why does a business need innovation

A

launch new products to retain customers

compete with rivals

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14
Q

product innovation

A

introduction of new and better product into a market

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15
Q

process innovation

A

introduction of new production process
improves productivity+lowers costs
improves original product/produces new one

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16
Q

disadvantages of research and development

A

expensive
no success guarantee
business copy you
constant change, annoy customers

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17
Q

benefits of innovation

A

improve quality

deal with legal and environmental issues (innovation help overcome these problems)

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18
Q

drawback of innovation

A

competition copy
no guarantee of success
availability of finance

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19
Q

what is the process of research and development

A

market research
brainstorming
Morphological Studies generates ideas cheaply and quickly

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20
Q

job production

A

producing a single tailored made item to meet customer needs

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21
Q

benefits of job production

A

meet customer needs
high quality
motivational

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22
Q

drawbacks of job production

A

no EOS
skilled labour
slower process

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23
Q

batch production

A

set procedure of stages production process has to go through
one process completed before next one

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24
Q

benefits of batch production

A

some EOS
faster than job
greater quantities produced

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25
Q

drawbacks of batch production

A

time delay between batches
less variety of work
storage space

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26
Q

flow production

A

continuous process product is assembled on production line creates standardised product

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27
Q

benefits of flow production

A

EOS
division of labour
maximise time

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28
Q

limitations of flow production

A

one part breaks all stops
initial set up costs high
employees de-motivated too repetitive

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29
Q

cell production

A

form of team work entire process of production is split into small groups
Each cell responsible for a complete unit of work

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30
Q

benefits of cell production

A

employee repsonsible for work in cell incentive for quality
job rotation opps
set own pace of work

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31
Q

division of labour

A

job is broken down into separate tasks

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32
Q

benefits of division of labour

A

become good at it high productivity

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33
Q

drawbacks of division of labour

A

repetitive

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34
Q

impact of division of labour on stakeholders

A

shareholders-increase efficiency,profit
suppliers more components
customers cheaper product EOS

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35
Q

which factors determine the type of production being used

A

product
cost of machinery
practical ability e.g enough room

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36
Q

specialisation

A

the process of concentrating on and becoming expert in a particular subject or skill

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37
Q

productivity

A

Measures of output per worker over a given period of time.

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38
Q

measures of productivity

A

Output per worker or hour of labour
Output per hour / day / week
Output per machine
Unit costs (total costs divided by total output)

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39
Q

why is high productivity important

A

lower cost goods than competitors.
maximise the return it makes on production assets
more output=more sales

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40
Q

how can a business improve productivity

A

Improved motivation
More or better capital equipment
better quality raw materials (reduces amount of time wasted on rejected products)
Improved organisation of production

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41
Q

diseconomies of scale

A

business expands in the long run, the unit cost of production increases

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42
Q

economies of scale

A

unit costs fall as output rises

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43
Q

examples of internal economies of scale

A

marketing
technical
specialisation

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44
Q

examples of external economies of scale

A

relocation of suppliers (cost saving)

spending locally improving transport (less time)

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45
Q

where do external economies of scale occur

A

in the industry

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46
Q

where do internal economies of scale occur

A

in the business

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47
Q

examples of internal diseconomies of scale

A

inefficient management

technical difficulties

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48
Q

examples of external diseconomies of scale

A

pollution (social cost of production)

strain on infrastructure (things get delayed)

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49
Q

capacity utilisation

A

measure of the extent to which the productive capacity of a business is being used

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50
Q

capacity management

A

concerned with the usage of resources of a business

51
Q

what is included in capacity management

A

analysis of performance+effect on capacity of introducing new product
monitoring capacity of IT server within a business

52
Q

how do you calculate capacity utilization

A

actual output/possible output X100

53
Q

how can full capacity utilization be obtained

A

increase demand for product produced

different additional products with same resources

54
Q

constraints of reaching full capacity

A

product is seasonal (lower demand)
outsourcing (don’t have control over)
level of competition

55
Q

benefits of operating at full capacity utilization

A

av unit cost falls, cost spread among more sales
less wastage
more profit (lower costs)
opportunity for employee bonuses

56
Q

disadvantages of operating at full capacity

A

less opportunity for maintenance
additional orders impossible to meet
no time for on the job training
pressure on employees

57
Q

what is stock

A

raw materials
work In progress
finished goods

58
Q

stock control

A

ensuring that appropriate amounts of stock maintained by a business, able to meet customer demand no delay

59
Q

what are the methods of stock control

A 
stock control charts 
JIT 
Kanban
fixed reorder stock levels 
fixed time reording 
economic order quantity 
electronic methods
60
Q

lean production

A

method of manufacturing for the minimization of waste

61
Q

total float

A

amount of Time activity can be delayed from start date without delaying the finish time of the project

62
Q

free float

A

amount of time network can be delayed without causing delay to the next task

63
Q

how do you calculate earliest start time (critical path analysis

A

Add up all the hours of tasks that need to be completed before that task can be started

64
Q

how do you calculate latest finishing time

A

Time taken to complete the task minus previous LFT

65
Q

what is the PERT equation

A

Optimistic time+(4 x Likely time) + pessimistic Time/ 6

66
Q

why does a business use CPA

A

projects that are complex
complexity and risk- necessary to identify the relationships between activities- work out most efficient way of completing the project.

67
Q

advantages of critical path analysis

A

the risk and costs of complex projects
Encourages careful assessment
spot which activities have some slack (“float”)
Provides managers with a useful overview of a complex project

68
Q

disadvantages of critical path analysis

A

Reliability based on accurate estimates and assumptions made
does not guarantee the success of a project
Resources may not actually be as flexible as management hope
Too many activities, network diagram too complicated.

69
Q

Gantt chart

A

A graphical Representation of the order and duration of tasks

70
Q

what does PERT stand for

A

programme evaluation review technique

71
Q

project management

A

application of knowledge, skills, tools, techniques to project activities to meet the project requirements

72
Q

benefits of a gantt chart

A

Visual Representation
Easy too Monitor
See what is happening
Shows time and resource allocation

73
Q

drawbacks of gantt chart

A

Does not show critical activities
Can not see ESTs or LFTS
Can not calculate Floats

74
Q

what is lead time on a stock control graph

A

Amount of time between placing the order and receiving the stock

75
Q

benefits of holding stock

A

Meet Demand
Fluctuations in demand
Economies of scale
Buffer stock

76
Q

JIT

A

just in time (stock control)

stock arrives just before it needs to be used

77
Q

buffer stock

A

amount of stock held

1) as contingency in case of unexpected orders
2) in case of any delays from suppliers

78
Q

factors affecting how much stock you reoder

A

How long it takes for the supplier to deliver the order
Higher lead higher re-order level
Demand for the product
Higher demand normally means higher re-order levels

79
Q

fixed time re-ordering

A

sent periodically or after a fixed time interval

80
Q

fixed re-order stock level

A

the minimum amount of stock that a business will hold before it re-orders from its suppliers.

81
Q

economic order quantity

A

order quantity that minimizes total inventory holding costs and ordering costs.
applies demand for a product is constant over a given period of time
each new order is delivered in full when inventory reaches zero.

82
Q

benefits of JIT

A

Less stock holding- cost benefits

83
Q

Disadvantages of JIT

A

Reliant on suppliers
Little room for mistakes
No spare capacity

84
Q

Time-based management

A

aspect of lean production.
recognises the importance of time
seeks to reduce wasted time in production processes

85
Q

The potential benefits of time-based management

A

Quicker response times
Faster new product development
Reduction in waste,

86
Q

aspectss of lean production

A 
Time based management 
Simultaneous engineering
 (JIT) 
Cell production
Kaizen (Continuous improvement)
Quality improvement and management
87
Q

Jikoda

A

building into production the ability to detect faults-Prevent downtime

88
Q

quality circles

A

Groups brought together to identify potential improvements.

89
Q

Kanban

A

traffic light system

amount of stock falls the kanban goes to green to allow more stock

90
Q

Kaizen

A

improvement based on many, small changes rather than the radical changes

91
Q

methods of lean production

A 
Kanban 
TQM 
JIT 
Jikoda 
cell production
92
Q

project management

A

involves planning and organising activities using resources to help achieve objectives

93
Q

electronic methods of stock control

A

EPOS

e.g scanning an item

94
Q

what is project management divided into

A

planning
executing
monitoring
completing

95
Q

provision of services

A

preparing do deliver good customer service

96
Q

quality control

A

business reviews quality of all factors involved in production process

97
Q

quality assurance

A

way in which business sets out procedures to assure consumers products are right quality

98
Q

calculation for wastage

A

no. of rejects produced/ total no. produced

99
Q

total quality management

A

all employees are responsible for checking products on production line
emphasis on prevention of mistakes

100
Q

why is TMQ used in a business

A

focus on needs of customer
improve quality
involves employees

101
Q

how will training employees improve quality

A

do job properly in first place
know exactly what to look for when checking
rectify mistakes quicker

102
Q

benchmarking

A

comparing business with its competitor in order to improve own practices

103
Q

how is benchmarking done

A

compare products+how they’re produced

104
Q

limitations of benchmarking

A

limited access to (trade secrets)

difficult to implement if don’t have right resources

105
Q

external quality standards

A

British standards
European standards
international standards

106
Q

British Standards

A

reward business that adopted certain quality procedures

107
Q

European Standards

A

oblige members to make standards national and precident

108
Q

benefits of following external quality standards

A

quality assurance labels attract customers
help reputation
pressure for products to remain this quality (helps reduce costs)

109
Q

international standards

A

Guidelines or standards developed for use worldwide. International Organization for Standardisation most well known .

110
Q

what factors affect the choice of location of a business (10)

A 
government incentives 
planning reg
globalization 
type of market 
type of business 
cost of labour
cost of a site 
infrastructure 
competition 
consumers
111
Q

logistics

A

includes the integration of supplies, production, warehousing and transportation

112
Q

supply change management

A

strategic co-ordination of business functions in supply chain to match supply +demand

113
Q

warehousing (logistics)

A

stocks/finished goods ready- lowers risk of production problems
large fixed costs

114
Q

customer requirements (logistics)

A

more urgency for perishable products to arrive on time

115
Q

information systems (logistics)

A

good ICT system connects departments

communicate demand+co-ordinate

116
Q

transportation (logistics)

A

how? road/rail

cost in buying+operating vehicles

117
Q

reshoring

A

business returning production to the host country

118
Q

reasons for reshoring

A

certainty around delivery times (including shorter delivery times)
Minimising risk of supply chain disruptions
Reducing the complexity of supply chain
easier to collaborate with home-based suppliers

119
Q

outsourcing

A

doesnt do all tasks

other are specialised in the tasks required and can do it better and cheaper

120
Q

why outsource

A

way of reducing costs

managers can concentrate on less things

121
Q

offshoring

A

relocation from the home country to a different international location.

122
Q

reasons for offshoring

A

lower manufacturing costs
higher quality supply
advantage free trade areas
important to be located in, or near to, those markets they serve

123
Q

subcontracting

A

production of a particular part of the product is undertaken by another firm

124
Q

service

A

the action of helping or doing work for someone

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