Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Business > Unit 3 - Operations > Flashcards

Unit 3 - Operations Flashcards

1
Q

Factors to consider when choosing a supplier

A

-Cost of raw materials
-Quality
-Quantity
-Location
-Delivery time/lead time
-Storage space available
-Reputation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What are risks of overstocking?

A

-High storage costs
-Products left unsold may be spoiled/stolen
-Money is tied up

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

What are risks of under stocking?

A

-Have nothing to sell
-Customers go elsewhere
-Loss in profits
-Poor reputation
-Increased admin costs

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

What is the maximum stock level?

A

The level that ensures that there will always be stock available without going over the storage space

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

What is the minimum stock level?

A

The level that stock must not fall below as shortages in raw materials may result in reduced output

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

What is the reorder level?

A

The level at which new stock should be ordered, usually worked out on the amount used per day plus the lead time

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

What is the buffer stock?

A

Extra stock kept on hand in case of manufacturing delays or an unexpected increase in demand

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

What is job production?

A

One-off product, custom-made to
a customer’s own specification.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

What are advantages and disadvantages of job production?

A

Advantages - Firms can produce
one-off orders to exact specifications, Workers are likely to be highly skilled and motivated.

Disadvantages -Small contracts and long gaps between work, Staff wages will be higher to reflect skill level.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

What is batch production?

A

Production of groups of similar
products. Changes can be made
between batches (such as
flavours, sizes, colours etc.)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

What are advantages and disadvantages of batch production?

A

Advantages - Batches can suit
individual customer specifications, Reduced need for highly skilled staff.

Disadvantages -Machines and staff may
stand idle between batches, Staff may be less motivated due to repetitive nature of the task.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

What is flow production?

A

Items move continuously from one
operation to the next. Products are
made on assembly lines and are
usually identical.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

What are advantages and disadvantages of flow production?

A

Advantages - Costs are spread over a
large number of goods (economies of scale), Automation reduces human error and increases production rate

Disadvantages -Huge investment costs in technology are required, Equipment may be inflexible and limited to one particular role

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

What are advantages of using technology in operations?

A

-Increased output
-Increased productivity
-Competitive edge

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Why is producing a quality product important

A

It reduces waste, creates a good reputation and encourages repeat custom.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

How can the production process be high quality?

A

Quality raw materials, quality manufacturing and equipment and quality staff training and customer service.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

What are benefits of using raw materials?

A

-Offers best opportunity of a good quality final product
-Using reputable suppliers can be used as a marketing tool

18
Q

What are costs of using raw materials?

A

-May be more expensive
-Supplier has to be reliable

19
Q

What are benefits of quality control?

A

-Reduces chance of poor quality products reaching end users
-Only some employees need to be trained as inspectors to look for faults

20
Q

What are costs of quality control?

A

-Faults are only found at the end of production
-High wastage costs
-Reworking faulty products costs time and money

21
Q

What are benefits of quality management?

A

-Aims to get it right the first time
-Zero tolerance on errors and mistakes

22
Q

What are costs of quality management?

A

-More expensive to implement than quality control
-Everyone must ‘buy in’ to the process

23
Q

What is quality management?

A

Departments work as teams, customers give feedback, quality improvement is shared.

24
Q

What are benefits of quality training?

A

-Well trained workers will make less mistakes
-Fewer accidents likely

25
Q

What are costs of quality training?

A

-May be expensive to pay for staff training
-Certain skills may take time to train and build

26
Q

What are costs of ensuring quality?

A

-Have to train staff
-Quality checks take time and production slows down

27
Q

What are benefits of ensuring quality?

A

-Fewer complaints and fewer problems
-Reduces waste

28
Q

What is quality control?

A

Quality is checked at the end of production and bad quality products are scrapped or reworked

29
Q

What is quality assurance?

A

Quality is checked after each stage of production, the product only moves on if its of good quality.

30
Q

What are benefits of recycling?

A

-Good for the environment
-Can save money
-Improve brand image

31
Q

What are costs of recycling?

A

-Takes time to do
-May reduce the quality of the finished product

32
Q

What are the benefits of reduced packaging?

A

-Can save money due to less materials
-Reduces transport costs

33
Q

What are costs of reduced packaging?

A

-Product may be damaged
-Product may be less attractive to customers

34
Q

What are some things a business can do to make it more ethical and environmental?

A

-Minimising wastage
-Recycling as much as possible
-Minimising packaging
-Ensuring a high standard of animal welfare
-Using renewable energy

35
Q

How does technology link with the operations process?

A

-Spreadsheets can be used to keep track of how much stock has been used
-Emails can be used to contact suppliers

36
Q

What is electronic point of sale (EPOS) and how is it used in operations?

A

-Uses bar codes and scanners for accurate stock control
-Helps management with decision making restock - high sales, low sales, special offers
-Automatically updates stock records when an item is sold

37
Q

What is computer aided design (CAD) and how is it used in operations?

A

It is a soft wear technology used by businesses to design a product or materials needed in the production process

38
Q

What is computer aided manufacture (CAM) and how is it used in operations?

A

Involves using computer controlled equipment and robots in the manufacturing of a product

39
Q

What are benefits of technology?

A

-Increasing productivity and increasing profits
-Improving quality so fewer complaints
-Larger product range so more customers

40
Q

What are drawbacks of technology?

A

-Breakdowns
-Cost of maintenance
-Cost of buying equipment

Business (4 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2025 Bold Learning Solutions. Terms and Conditions