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intro to business II > chapter 2 > Flashcards

chapter 2 Flashcards

1
Q

what it production?

A

using machines and people to convert raw materials in to a finished product

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2
Q

what is productions and operations management?

A

overseeing the whole production process and the people involved

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3
Q

what are producers?

A

someone who creates something

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4
Q

what are inputs?

A

resources and raw materials that are used to make the final product

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5
Q

what does the conversion process add?

A

it adds value

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6
Q

what are outputs?

A

goods and services

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7
Q

what do productions and operation managers do?

A

supervise the work of people and machinery to convert inputs into finished goods and services

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8
Q

what are 4 tasks of production management?

A

planning the production process
selecting the most appropriate layout
carrying out the production plan
controlling the production process

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9
Q

is production a vital function of a company?

A

yes

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10
Q

what are the 4 benefits that an effective production and operations management can add to a company?

A

lower costs of production

boost the quality of its goods and services

allow company to respond dependently to customers demands

enable company to provide new products

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11
Q

what are the 3 types of production?

A

mass production
felxible production
customer driven production

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12
Q

what is mass production?

A

producing things in a large quantity

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13
Q

what is flexible production?

A

producing things in smaller quantity

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14
Q

what is customer driven production?

A

lets customer demand dictate the amount of product that is produced

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15
Q

what are the 5 ways technology impacts the production process?

A

a robot
computer-aided design (CAD)
computer-aided manufacturing (CAM)
flexible manufacturing system (FMS)
computer-integrated manufacturing (CIM)

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16
Q

how can a robot impact the production process?

A

a reprogrammable machine doing majority of the production process and making it more efficient

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17
Q

what is Computer-aided design (CAD)?

A

the ability to design parts and products through a computer

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18
Q

what is computer-aided manufacturing (CAM)?

A

using a computers to manufacture products

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19
Q

what is flexible manufacturing system (FMS)?

A

production facilities that can change to produce different kinds of products

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20
Q

what is computer-integrated manufacturing (CIM)?

A

using computers to design products, control machines and handle raw materials

21
Q

what are the 4 kinds of facility layouts?

A

process layout
product layout
fixed-position layout
customer orientated layout

22
Q

what is a process layout?

A

grouping machinery and equipment according to their functions

23
Q

what is an example of a process layout?

A

a laundry company for example would be organized by; laundry receiving, labeling and sorting, washing and drying, pressing, order assembly, loading and delivery and invoicing

24
Q

what is a product layout?

A

setting up production layout based on the layout of the product

25
Q

what is an example of a product layout?

A

a car factory would be set up as; wheels and undercarriage, engine, doors, roof and windows

26
Q

what is a fixed position layout?

A

the product is at the centre of the factory and the productions revolves around the product

27
Q

what is an example of a fixed position layout?

A

building a house, the house stays on the lot and the different workers and specialists come to the house to work on it

28
Q

what is a customer orientated layout?

A

a production layout that increases customer interaction

29
Q

what is an example of a customer orientated layout?

A

a hospital, they will make sure the nurses station is near the patients beds to increase the interaction with the customers and nurses

30
Q

what are make, buy or lease decisions?

A

decisions if you should make, buy or lease a part needed in the production of a product

31
Q

what are 4 factors in the make, buy or lease decision?

A

cost

availability of reliable outside suppliers

duration of the firms supply needs

the need for confidentiality

32
Q

what are the 4 factors that influence the selection of suppliers?

A

quality
price
dependability
history

33
Q

what is the selection of suppliers?

A

the potential suppliers that a seller is going to use to produce their product

34
Q

what is inventory control?

A

ensuring that appropriate amounts of stock are maintained by a business

35
Q

what do you have to balance when keeping inventory?

A

the cost of having inventory and the benefit of having inventory

36
Q

can you inventory a service?

A

no

37
Q

what is perpetual inventory?

A

constantly checking inventory levels with a computer to ensure you have enough inventory

38
Q

what is vendor managed inventory?

A

when you let the supplier deal with and manage the inventory

39
Q

what is just-in-time (JIT) system?

A

when a company gets in product just in time for customers, this leads to less inventory

40
Q

what is materials requirement planning (MRP)?

A

a computer based planning system that ensures the right parts and materials to produce their goods

41
Q

what is inventory?

A

product that is stored by a business to be sold at a later date

42
Q

what is production control?

A

coordinating people, materials and machinery to provide the greatest production efficiency

43
Q

what is a sample gnatt chart?

A

a chart that tracks projected and actual work

44
Q

what can poor quality cause?

A

it can account for a 20 percent loss in revenue

45
Q

what is quality?

A

the standard of something measured against other things of a similar kind

46
Q

what is benchmarking?

A

comparing your company to a company that you feel is the best

47
Q

what is quality control?

A

the process by which products/services are tested and measured to ensure they meet a standard

48
Q

what do many companies use to evaluate quality?

A

the six sigma concept

49
Q

what is the six sigma concept?

A

where companies try to make error-free products 99.9997% of the time, allowing for only 3.4 errors per million opportunities

intro to business II (10 decks)

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