Topic 2.3 Flashcards
What is job production
When a firm manufactures unique, individual products.
This method has high costs
This method usually takes longer
What is flow production
Producing lots of identical products
Mass market goods
What is batch production
Making different products that are identical to one another
Limited quantities
Lower productivity
How can tech affect production
It can make it faster at times as processes are faster and they can work 24/7
However they can be expensive and can break down and they are inflexible
What is JIT stock control
Just In Time
Keeps buffer stock low and arrives on time
Reduces the cost of having to keep stock
What is JIC stock control
Just In Case
Holds buffer stock and has cost of storage
Can deal with spikes in demand better
What is procurement
The process of getting the right things from the right suppliers
What is logistics
Getting goods or services from one part of the supply chain to another part
Examples of things that firms should consider when choosing a supplier
Quality
Trust
Availability
Delivery
Price
What is quality control
Checking a sample of products before they are shipped
What is quality assurance
Checking a product at each individual step of its production
Examples of things that an employee should have for a good sales service
Excellent product knowledge
Engaging with the customer
Quick and efficient
Post-sales service
Responding to customer service
Benefits of good customer service
High levels of customer service
Loyal
Spend more (customers)
Dangers of poor customer service
Dissatisfied customers
Reputation damaged
