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Business Theme 2 > Resource Management > Flashcards

Resource Management Flashcards

1
Q

What is job production?

A

Job production involves producing items that meet specific requirements

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2
Q

Job production benefits

A

Customer requests and changes can be made easily

More motivated workers

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3
Q

Job production limits

A

Costs are high per unit

Very labour intensive

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4
Q

Batch production

A

Batch production is when many similar items are produced at the same time

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5
Q

Batch production benefits

A

Cost savings from bulk buying

element of choice and flexibility

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6
Q

Batch production limits

A

Takes time to switch production between batches

Need to hold on to higher stock levels

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7
Q

What is flow production?

A

Flow production involves a continuous movement of items through the production process

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8
Q

Flow production benefits

A

Lower cost per unit through improved work flow

Capital intensive – can work constantly to increase output

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9
Q

Flow production limits

A

Time-consuming and costly to set up

Goods mass produced – less differentiation possible

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10
Q

What is cell production?

A

Cell production is where the production process is split into self-contained units

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11
Q

Cell production benefits

A

Increased motivation through team work

Specialisation as teams work on specific areas of production

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12
Q

Cell production limits

A

Output lower than flow as machinery not used as intensely

May be rivalry between cells

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13
Q

Productivity definition

A

A measure of the efficiency of in converting inputs into useful outputs. Productivity is a critical determinant of cost efficiency.

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14
Q

2 factors influencing productivity

A

Labour – skills, knowledge, training

Capital – access to automated equipment

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15
Q

The link between productivity and competitiveness

A

The more productive an organisation is, the lower its costs are. As a business lowers its costs, it can be more competitive in the market as it can lower its prices or make more profit, which can be reinvested to improve performance.

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16
Q

Two factors influencing efficiency:

A

Use of machinery

Ability of workforce

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17
Q

The formula for capacity utilisation:

A

Actual output / maximum output X 100

18
Q

Identify three implications of:

UNDER-UTILISATION OF CAPACITY

A

Higher unit costs

Lower morale as staff under-used

Less competitive

19
Q

3 implications of capacity over-utilisation

A

Increased likelihood of disruptions as machines breaking down

Less able to respond to changes in demand e.g. new orders

Impact on customer service as work might be delayed or misses deadline

20
Q

Ways of improving capacity utilisation:

A

Down-sizing

Improved marketing

21
Q

Buffer stock definition

A

Stock held as a contingency in case of unexpected orders so that such orders can be met and in any case of a delay from suppliers

22
Q

Buffer stock advantages

A

Potential for lower unit costs from buying in bulk

Improved customer service

23
Q

Limits of holding buffer stock

A

Added cost of holding stock (warehousing etc.)

Cash flow problems

24
Q

Just-in-time production definition

A

Where inputs into the production process arrive only when they are needed

25
Q

JIT benefits

A

Lower stock holding costs

Less working capital held up in stock

26
Q

JIT limitations

A

Little margin for error – may be delays

No spare finished product to meet unexpected orders

27
Q

2 implications of poor stock control

A

More waste leading to higher costs leading to lower profitability

Lower levels of customer satisfaction leading to lower sales

28
Q

2 benefits of waste minimisation

A

Lower costs

Improved efficiency

29
Q

What is meant by lean production:

A

Lean production is an approach to management that focuses on cutting out waste, whilst ensuring quality. It aims to cut costs by making the business more efficient and responsive to market needs.

30
Q

Two ways lean production might lead to a competitive advantage:

A

Cutting waste reduces unnecessary costs which means more competitive in pricing

Cutting waste means less time and being more responsive to market changes or to customer requirements, leading to faster delivery times and more satisfied customers

31
Q

Two ways in which quality management can give a business a competitive advantage:

A

Strong brand reputation as a result of delivery quality products

Differentiate by improved customer satisfaction and brand loyalty

32
Q

What is quality control?

A

Quality control is the process of inspecting products to ensure that they meet the required quality standard, usually checking at the end of production for faults before being delivered to customers

33
Q

What is quality assurance?

A

quality assurance is about the processes to ensure production quality

meets the requirements of customers, ensuring every process is designed in order to get the product right first time and preventing mistakes from ever happening.

34
Q

QUALITY CIRCLES meaning

A

Groups specifically brought together to identify potential improvements.

35
Q

TOTAL QUALITY MANAGEMENT (TQM) meaning

A

An attitude to quality where the aims are zero defects and total customer satisfaction.

36
Q

KAIZEN meaning

A

Translated as ‘continuous improvement’ is an approach of constantly introducing small incremental changes in a business in order to improve quality and/or efficiency.

37
Q

Flow production meaning 2

A

Flow production, where identical, standardised items are produced on an assembly line.

38
Q

Productivity formula

A

It is calculated by dividing total output by the number of workers.

39
Q

Difference between production and productivity

A

Production is the total amount made by a business in a given time period. Productivity measures how much each employee makes over a period of time.

40
Q

Staff productivity depends on:

A

skills
quality of machines available
effective management

41
Q

Productivity can be improved through:

A

training
investment in equipment
better management of staff

Business Theme 2 (4 decks)

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