Topic 3 - Operations Flashcards
What does it mean by Operations?
Is all the activities in managing the transformation process. It takes inputs and delivers them as outputs.
What does it mean by Production?
The process of changing inputs such as labour services into goods and services that can be sold
What does it mean by Job Production?
A method of production in which a product is supplied to meet the exact requirements of a customer
What does it mean by Unique Designs?
If the design is unique it allows businesses to gain advantage over larger rivals
What does it mean by Variety and Flexibility?
It allows personal services to be supplied
What does it mean by Costs?
Job production is expensive because each product is different so every step is unique
What does it mean by Recruitment and Training?
Is requires skilled employees so it is difficult to employ people with those skills (Job production may require staff to be highly skilled)
What does it mean by Low Volumes?
Provides flexibility and meets each customer’s needs
What does it mean by Batch Production?
Occurs when groups of items move together through different stages of the productions process
What does it mean by Flow (Mass) Production?
Occurs when an item moves continuously from one stage of the process to another, in large scale production of identical items
What does it mean by CAD?
CAD is used for displaying and editing designs on the computer
What does it mean by CAM?
CAM uses a computer to control a manufacturing process.
What does it mean by Quality?
Involves meeting a standard for a good or service in order to meet consumer needs and expectations
What does it mean by Quality Assurance?
Is a guaranteed given by producers to consumers that certain standards have been met throughout the production process
What does it mean by Quality Control?
Involves inspecting a sample of goods produced at the end of the production process to ensure that specifications have been met
What does it mean by TQM?
Total quality management (part of the quality assurance process)
What does it mean by Supply Chain?
The various processes involved in producing a product and distributing it to buyers. Managing the supply chain includes procurement of supplies, logistics and stock control
What does it mean by Procurement?
Will involve selecting suppliers, establishing the terms of payment and negotiating the contract.
What does it mean by Logistics?
Movement of goods, services, information and money throughout the production process
What does it mean by Just-in-case production?
Holds stocks just in case there is a delay from suppliers / sudden unexpected increase in demand
What does it mean by Just-in-time production?
Holds as little stock as possible. Items are ordered just in to be used.
What does it mean by Sales Process?
Involves a series of steps taken from when the potential buyer meets the prospective seller until after the final sale is made
What does it mean by After-sales service?
Is the meeting of consumers’ needs after they have purchased the product - for example, by repairing or servicing the product
What does it mean by Customer Engagement?
Occurs when the business and customers communicate throughout the sales process
