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Business
Spec 2.3 (Making Operational Decisions)
| Question | Answer |
|---|---|
| What are the 3 main methods of production? | 1. Job production 2. Batch production 3. Flow production |
| Define job production | Making one-off unique items to meet exact requirements of a customer |
| Give 3 advantages of job production | 1. Easy for business to differentiate itself 2. High prices can be charged 3. Products usually high quality |
| Give 3 disadvantages of job production | 1. Employees could require significant training 2. Skilled staff could demand higher pay 3. Cost of producing one unit is high |
| Define batch production | A set amount of the same item being produced |
| Give 3 advantages of batch production | 1. Cost of making each individual item is reduced 2. Workers can become specialists in areas of production 3. Specialist machinery reduces need for large amounts of labour |
| Give 2 disadvantages of batch production | 1. Lack of flexibility (compared to job) 2. Repetitive, staff may become demotivated |
| Define flow production | Continuous manufacturing of goods along a production line |
| Give 3 advantages of flow production | 1. Large volumes of output means low unit costs 2. Little production time is lost 3. Consistent quality |
| Give 3 disadvantages of flow production | 1. Expensive to purchase machinery and set up production line 2. Break down in one area of production line leads to big inefficiencies 3. Difficult for production line to be changed |
| What is productivity a measure of? | Output per worker in a given time period |
| Name 3 ways in which a business could improve motivation | 1. Recruit appropriate staff (work hard, enjoy their job, etc) 2. Invest in training 3. Invest in new technology |
| What are the 4 areas of production where technology impacts a business? | 1. Cost 2. Productivity 3. Quality 4. Flexibility |
| What do businesses often use to monitor stock levels? | A bar gate stock graph |
| What is a the buffer stock level? | The minimum amount of stock a business wishes to hold |
| What is the point on a bar gate stock graph called where a business wants to place a new order of stock? | Re-order level |
| What is lead time? | Time it takes between placing an order and receiving stock |
| What is just in time stock control? | When stock arrives just when it is needed in the production process. No buffer stock is held |
| Give 2 advantages of JIT stock control | 1. Lower costs of storing stock 2. Stock less likely to become damaged or stolen |
| Give 2 disadvantages of JIT stock control | 1. Late deliveries result in delay in production 2. Business may not benefit from bulk discounts |
| What is procurement? | The process by which suppliers and type of stock are chosen |
| What 5 factors affect the relationship between a Business and its suppliers? | 1. Quality 2. Delivery 3. Availability 4. Cost 5. Trust |
| What 3 benefits are there for a business of effectively managing logistics? | 1. Lower unit costs 2. Reputation 3. Customer satisfaction |
| What is quality control? | Products being checked by inspectors at the END of the production line |
| Name 2 advantages of quality control | 1. Checks completed by trained inspectors 2. Takes pressure off production line workers of continually monitoring quality |
| Name 2 disadvantages of quality control | 1. Doesn't encourage workers to be responsible for quality 2. Increased costs of paying inspectors' salaries |
| What is quality assurance? | When quality is checked throughout the production process at each stage of production |
| Name 2 advantages of quality assurance | 1. Quality problems can be sorted quickly and efficiently 2. Staff can be more engaged in their jobs |
| Name 2 disadvantages of quality assurance | 1. Staff training required 2. Can slow down production process |
| What are the benefits to a business of consistent quality (Name 5/8) | 1. Less errors and waste 2. Lower wage bill 3. Additional sales 4. Improved image/reputation 5. Easier to launch new products 6. Higher prices can be charged 7. Retailers more willing to stock products 8. Easier to attract/retain staff |
| Name the 5 steps of the sales process | 1. Gain customer interest 2. Provide efficient service 3. Engage the customer 4. Provide post-sales service 5. Achieve customer satisfaction |
| Name 3 things good customer service can lead to for a business | 1. Customer satisfaction 2. Customer loyalty 3. Differentiation |
Created by:
JoeMather
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