Unit 3 Flashcards
What is flow production
When an item moves continuelsy from one stage of production to another
What is an Advantage of flow production
Greater volume
More Sales
Specialisation
Cheaper per unit
What is a disadvantage of flow production
Costs alot
Lacks flexibility
Boring
What is lean production
A set amount of tools, and techniques used to streamline and improve a companies production
What is an advantage of lean production
Less infrastructure
Limited waste
Good Publicity
What is a disadvantage of lean production
Missed deliveries
Equipment failure
Labour failure
What is job production
Job Production occurs when a business produces products that meet the specific requirements of the customer.
What is an advantage on job production
More flexible
High quality
Customer satisfaction
What is a disadvantage on job production
Higher costs
Specialised machinery
Takes a lot of time
What is JIT
Just in time, When supplies come in as soon as the buyer is out
What is an advantage of JIT
Reduces waste
Reduces cost
What is a disadvantage of JIT
Surge in demand
Rellying on external
Cost of more frequent deliveries
Risk
What is JIC
Just in case, When a company holds spare or extra stock so that they do not run out as easily
What is an advantage of JIC
Buffer satisys demand
Doesnt let customers down
Bulk buying, economies of scale
What is a disadvantage of JIC
Costs more
Waste product
Products can go obsolete