2.4 Resource Management

Question 1

What are the four methods of production

Answer 1

Job batch flow cell

Question 2

How is productivity calculated

Answer 2

Productivity = Output ÷ Input

Question 3

What is the difference between labour-intensive and capital-intensive production

Answer 3

Labour-intensive production relies more on human labour, while capital-intensive production relies more on machinery and technology

Question 4

What is capacity utilisation and how is it calculated

Answer 4

Capacity utilisation measures how much of a business maximum possible output is being used. It is calculated as (Current output ÷ Maximum possible output) × 100.

Question 5

What is the Just-in-Time (JIT) stock management

Answer 5

JIT is a system where materials are ordered and received only as they are needed, reducing stock holding costs

Question 6

What is Total Quality Management (TQM)

Answer 6

TQM is a continuous improvement approach where all employes are involved in improving processes, products and services