2.3 Making operational decision Flashcards
Auotmation
Using machinery or robotics to do jobs instead of using people to do them.
Batch production
Producing a limited number of identical products.
Flow production
Continuous production of identical products, which gives scope for high levels of automation.
Job production
One-off production of a one-off item for a single customer.
Productivity
A measure of efficiency, usually output per person per time period.
Flexibility
The ability to switch quickly and easily from one task to another.
Robots
Machines that can be programmed to do tasks that can be done by humans, such as welding, spray painting
Procurement
The process of managing a business’s major purchases, from raw materials to delivery vans.
Logisitcs
The organisation and management within a business of the transport of raw materials and goods.
Bar gate stock graph
A diagram to show changes in the level of stock level held at all times to avoid running out.
Trust
Building a business relationship in which both sides know that the other won’t let them down.
Buffer stock
The minimum stock level held at all time to avoid running out.
Just in time (JIT)
Running the business with so little stock that new supplies have to arrive ‘just in time’ before they run out.
Stock(s)
Items held by a firm for use or sale.
Availability
Knowing how to get the right supplies quickly- just when you need them.
