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Business - Theme 2 > Resource Management > Flashcards

Resource Management Flashcards

1
Q

What does resource management require?

A

planning and control and every stage in supply chains

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2
Q

What is considered during the design of a product?

A
  • market research
  • competition
  • available finance
  • past products
  • product differentiation
  • target audience
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3
Q

What is considered when establishing a new supply chain?

A
  • Distribution channel
  • external factors i.e currency
  • delivery costs
  • sustainability
  • costs
  • availability
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4
Q

What is considered when working with suppliers?

A
  • possible trade credit
  • relationships
  • budget –> cost per unit
  • design
  • capacity and volume
  • deadlines
  • spread risk
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5
Q

What is considered when managing quality?

A
  • TQM
  • Quality assurance (as you go)
  • Quality control (end)
  • Quality circles
  • skilled labour
  • motivate workforce
  • training
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6
Q

What is considered when achieving high levels of efficiency?

A
  • Kaizen (continuous improvement)
  • new technology
  • training
  • targets/motivators
  • minimise waste
  • labour productivity
  • lower unit costs and low variable costs per unit
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7
Q

What is production?

A

measures the quantity of output

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8
Q

What are the two methods of production?

A

labour and capital intensive

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9
Q

What is labour intensive production?

A

automation using machinery

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10
Q

What is capital intensive production?

A

using highly skilled people and workforce

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11
Q

What are the different types of production?

A

Job
Batch
Flow
Cell

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12
Q

Which type of production has the highest labour costs and lowest?

A

most job
cell
batch
least flow

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13
Q

What is job production?

A

Where low volumes of goods are produced which are tailored to high customer expectations using a skilled workforce.

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14
Q

What are positives and negatives of job production?

A

+ altered for customers, higher quality, motivation, flexible, high profit margin
- Increase variable cost per unit and fixed costs per unit , labour intensive, requires close consultation, high training, Long lead-time, hard to deal with.

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15
Q

What is batch production?

A

Producing a large number of identical products created in stages before moving onto the next stage that’s related to it

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16
Q

What are positives and negatives of batch production?

A

+ economies of scale, customer choice, specialist, allows unexpected orders, lower cost per unit, utilise assets
- takes time between production, requires higher stock levels, tasks may be repetitive, size depends on capacity utilisation

17
Q

What is flow production?

A

Where production is continuous and progressive through stages where only one type of product is being produced.

18
Q

What are positives and negatives of flow production?

A

+ capital intensive, low costs, mostly autonomous, economies of scale, time efficient, less training.
- competitive, obsolete technology, repair and maintenance, demotivating for staff, high initial costs, requires constant demand and supply, high risk

19
Q

What is cell production?

A

Methods where workers are organised into multi-skilled teams each responsible for a particular part of the production.

20
Q

What are positives and negatives of cell production?

A

+ improved communications, efficient management, workers become multi-skilled, low stock requirement (just in time), improved lead time
- reduces use of machinery, more hierarchy and increased costs, create competition, may be slow, has to build trust.

21
Q

What are factors to consider when deciding on method of production?

A 
Skills required
Competition
Desired quality
Finance available 
Capacity required 
Ethical stance 
Legal issues 
Size of organisation
Dyamics
PESTLE
Trends and traditions
22
Q

How do you work out output per work ?

A

Total output / number of employees

23
Q

How do you work out productivity per time?

A

Output / time period

24
Q

What is productivity?

A

Important measure of efficiency.

25
Q

What are methods of improving productivity?

A 
Motivational incentives
Team-working
Change production style
Leadership style 
Training
Increased work houses
Investment equipment 
Change work practices
26
Q

What are positives and negatives of motivating employees?

A

+ better relations, staff retention, increase value of staff, better communication
- can be costly, not work for every employee, take time, hard to sustain,

27
Q

What are positives and negatives of training?

A

+ worthwhile over a long time, cheaper, improve staff, better skills, motivate workers, flexible production, multi skilled, dynamic, less defective products
- takes time, can be costly, may not be suitable, retention, bad training

28
Q

What are positives and negatives of increased work hours?

A

+ more output, longer serving staff (higher retention), short term gains
- employee welfare, increased wage, lower quality, hard to manage

29
Q

What are positives and negatives of investing into equipment or technology?

A

+ better competition, can differentiate, advantage, efficiency, better waste management, customers and increased volume, lower unit costs, 24/7
- quickly outdated, needed finance, maintenance, to train, obsolete, reputation, mass market

30
Q

What are positives and negatives of changing work practices?

A

+ suit staff, efficiency, waste management, reduce unit costs, introduce tea working, allow flexibility
- expensive, resistance by employees, trust staff, make communication difficult

31
Q

How would great specialisation of labour improve productivity?

A

This helps focus workers on one area of production which helps speed up processes since highly skilled workers can easily complete work.

32
Q

How can financial incentives improve productivity?

A

Motivates workers as they will increase their productivity which increases job rotation allowing staff to become mor efficient.

33
Q

How can greater labour flexibility improve productivity?

A

Motivates workers as they will be given more control increasing trust between employee and employee - better communication

34
Q

How can the introduction of technology improve productivity?

A

Increases the productivity of the workers as it allows staff to get through more products. This is also cheaper in the long run making economies of scale more applicable.

Business - Theme 2 (22 decks)

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