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mock revision business > miss duddigan-resource management > Flashcards

miss duddigan-resource management Flashcards

1
Q

what are the 4 methods of production

A

job
batch
flow
cell

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2
Q

job production

A

-used for one-off times produced by skilled workers
-e.g wedding dress

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3
Q

disadvnatges of job production

A

-each product take long time to make
-means productivity is lower
-skilled workers will need to be payed high wages
-means increased costs
-less chance of economies of scale as products need to be made individually rather then in bulks
-higher unit costs means higher prices must be charged

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4
Q

advantages of job production

A

people will get a unique product hand made
so customers are more willing to pay higher prices

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5
Q

flow production

A

use of an assembly line to produce identical products
e.g chocolate bars
ech worker does there task then passed on
like a flow

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6
Q

advantages of flow production

A

most efficient
can be continious, no stoppages
can use machines
can operate 24 hours
allows a benefit for economies of scale to be achieved as can buy raw materials in bulk
alllows for more competitive/lower prices charged
mass market most liekly tp use as sell large volumes of identical products

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7
Q

batch production

A

makes small batches of differnt products
products in each small batch are identical to one another
one batch made, production stopped and equipment is adjusted e.g cleaned
then next batch of products are made

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8
Q

advantages of batch production

A

higher production then job production as each batch consists of identical products
however
lower production than flow production as have to clean/ adjust q=equipment between each batch as not identical to the batch before
can buy raw materials in bulk so can achieve economies of scale

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9
Q

disadvantages of batch production

A

might have to store these raw materials
stoppage between each batch to adjust equipment

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10
Q

disadvnatges of flow production

A

machinery may stop working
as producting identical products workers may get bored and leave meanign absentissm is higher
repitiive tasks can be boring

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11
Q

cell production

A

flow divided into a set of tasks
each task completed by work group
e.g for cars each gorup may be responsible for assembiling each part of a car

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12
Q

advantages of cell production

A

may cause increase in pride as workers feel more accomplished by doing something with group of people

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13
Q

advantages of machinery with levels of productivity

A

-can operate 24 hours
-can carry out tasks quicker then humans
-work for more hours in day, dont need rest breaks
-

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14
Q

disadvantages of machinery on productivity

A

-may break down
-to alter production, may need to install whole new software
-for humans, they would be much easier to alter production

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15
Q

efficiency

A

when production happens at an overall minimum average cost

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16
Q

ways in which a business can increase efficiency

A

increasing productivity
-cutting costs involving production of a product
-

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17
Q

labour intensive firms

A

uses more people rather then machinery
e.g NHS as need more people rather then machinery to solve problems
labour intensive countries e.g China where labour is cheap

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18
Q

advantages of labour intensive firms

A

dont havr to buy expensive machinery
humans can be retrained to carry out new task wheras for machinery, it will need to be brought/replaced
can suggest ways to imporve quality

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18
Q

disadvanatges of labour intensive firms

A

harder to manage people then amchines e.g emotions feelings
people can be unreliable (call in sick)
wont work without rests/breaks

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19
Q

capital intensive firm

A

firm that uses more machinery rather then people
larger firms tend to be more capital intensive as need more to be produced

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20
Q

advanatges of capital intensive firms

A

operate 24 hours
dont need breaks
easier to manage
more precise
no chnace of human error

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21
Q

disadvnatages of capital intensive firms

A

very expensive to buy
only usually suited for one task wheras humans can do multiple differnt tasks
machine breaks down, can lead to long production delays
risks sales being missed and repuation decreasing
if machine replaces workers, workers may feel unmotivated

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22
Q

capacity utalisation

A

how much capacity a business is using

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23
Q

capacity utilisation calculation

A

current output divided by maximum output times 100

23
Q

disadvantages of working at over 100% capacity utalisation (over-utalisation)

A

no down time-machines are on all time-
no time for equipment maintenace shortening time machine can wokr for
no margin of error-everything has to be perfect everytime which can cause stress to workers
mistakes are more likely as workers are working flat out

24
Q

ways a business can increase their capacity

A

-using their facilities more. making people work 2 times a week rather then 1
-buy more machines
-increase staff levels
-if rise in demand is temporary, business might outsource

25
Q

what is outsourcing

A

where business uses another firm to do some work on its behalf
e.g packaging it in store with own label

26
Q

under utalisation

A

inefficient as not getting good use of machinery already have

27
Q

disadvantages of under utilisation

A

workers may lose motivation as dont have enough to do
also less chnace of promotion
negative brand image e.g shelves werent all full gives bad impression on customer

28
Q

managing stock

A

store of raw materials
max amount of stock business wants to hold usually depends on how large stock room is
flow prodcution would mean lot of stock needed

29
Q

what is a minimum amount of stock level called

A

buffer stock
depends on warehouse, whether product is perishable or not

30
Q

perishable

A

things tht go out of date e.g food

31
Q

advantages of buffer stock

A

whats needed to avoid running out of stock
mass markets more likely to need more buffer stock as have more to consisitently produce and if not, can risk customer loyalty being lost
also good incase theres a sudden increase in demand

32
Q

disadvantages of buffer stock

A

to hold buffer stock, costs are involved
e.g storage costs for warehouse or refridgerator etc
increase in wastage costs if products are perishable and not used in time

33
Q

why do dynmaic markets have a high risk of wasted stock

A

as makret constantly changing meaning things go out of fashion very quickly
increases risk of opportunity cost-money could go to something better

34
Q

what is high stock in costs

A

this is where business ends up with too much costs being spent on holding stock
bad for smaller businesses with little money
also bad for dyanmaic markets whos markerts are consistently changing

35
Q

what is stock out costs

A

where business runs out of stock
demotivatinf for staff as wont have any work to do

36
Q

lean production

A

effient form of production
focuses on waste minimisation
using as few resources(time and money) to make product
can also involve recycling and re-using materials in house

37
Q

just in time management

A

method of lean production
aims to reduce waste of materials
having as little stock as possible
products avaliable just in time for when customer needs them

38
Q

advnatges of JIT managment

A

storage costs are reduced
cash flow improved as money not tied up in stock
less waste as less out of date or damaged stock lying about
business more flexible so can deal with changes in demand

39
Q

disadvantages of JIT management

A

having litle stock means firm relies on lots of frequent deliveries from suppliers
can be stressful for staff
supplier may be unreliable and firm may end up running out of stock
can not benefit from economies of scale as not buying in bulk

40
Q

quality control

A

checking goods after you’ve made them or when arrive from suppliers to check anything from them
often done by quality inspectors

41
Q

quality assurance

A

introducing measures throughout production process
checking throughout
product checked at each stage of production process

42
Q

advantages of quality asurance

A

-prevents product being chucked away as checked throughout
-prevents errors
-prevents aim to get it right first time/pressure
-

43
Q

advanatges of qulaity control

A

detects errors and puts them right
more consistent not having to check throughtout stopping/starting

44
Q

why can quality assurance be more motivating than quality control

A

workers get to self check their work which can be highly motivating

45
Q

what is total quality management

A

where quality is the centre of everything a business does
big part of businesses culture
idea that every employee in every department focuses on quality

46
Q

advantages of TQM

A

all employees are involved meaning can help them bond as a team

47
Q

disadvantages of TQM

A

can demotivate staff-can be lot of effort too consider quality in all parts of the firm

48
Q

quality circles

A

where they meet at regular intervals to discuss quality control issues
great way to get staff involved
disadvanatge-managemnt meant not listen to floor staff and suggestions may be unrealistic

49
Q

kaizen approach

A

lean production method
employees reducing waste and constantly finding ways to be more efficient
cheap for business to introduce
disavnatge-only small changes at a time

50
Q

what is inflation

A

overall increase of a price in goods and services within an economy

51
Q

exchange rates

A

value of one currency in terms of another currency

52
Q

example of an exchange rate

A

e.g. 1 pound worth 1.60
if then goes up so 1 pound worth-appreciated
also said to strengthen power of another

53
Q

barriers to entry

A

how easy it for new firms to enter market
price war. undercut prices by predatory pricing

54
Q

buyer power

A

buyers want as low as price as power
they have the power

55
Q

supplier power

A

supplier wants as high price as possible
firm can make long term contract

56
Q

threat of substitutes

A

how likely customers are to buy an alternative
businesses can differentiate their product to keep customers interested

57
Q
A

mock revision business (31 decks)

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