Production System Flashcards
(30 cards)
The three important elements in the Production System
- Input
- Production Process
- Output
The input includes the:
- Manpower
- Materials
- Machine
- Design
- Instructions
It is also referred to as TRANSFORMATION OR CONVERSION PROCESS. It is the stage where the MATERIALS ARE TRANSFORMED INTO THE FINAL PRODUCT
Production process
The most serious issues in the whole production system are the ___ and the ___
Inputs, Transformation Process
What are the FOUR MʼS OF PRODUCTION?
- Manpower
- Method
- Machine
- Materials
It talks about HUMAN LABOR FORCE involved in thr manufacture of products
Manpower
It simply refers to the raw MATERIALS necessary in the production of a product
Materials
It is about the MANUFACTURING EQUIPMENT used in the production of goods or delivery services
Machine
It is the PROCESS OR WAY OF TRANSFORMING RAW MATERIALS TO FINISHED PRODUCTS
Method
It is the PHYSICAL OUTPUT OF THE WHOLE PRODUCTION PROCESS
Product
A product can be a ____ and ___
Heterogeneous product, Homogeneous product
A ___ has a PHYSICAL APPEARANCE, TASTE, OR CHEMICAL CONTENT THAT CAN BE HARDLY DISTINGUISHED FROM THAT OF OTHER PRODUCTS
Homogeneous product
A ___ has DISSIMILAR CHARACTERISTICS, PARTS, AND PHYSICAL APPEARANCE and can be EASILY IDENTIFIED FROM OTHER PRODUCTS.
Heterogeneous product
It PROMOTES AND EXPLAINS WHAT A PRODUCT IS AND WHY IT’S WORTH BUYING. It also provides customers with details around the features and benefits of the product
Product description
It is CREATED BEFORE THE MASSIVE PRODUCTION
Prototype
In manufacturing venture, the ___ plays a vital role
Supplier
It is a METHOD OR ACTIVITIES BY WHICH A COMPANY ADDS VALUE TO AN ITEM, production marketing and the provision after-sales service.
Value chain
A __ is a STRUCTURE OF ORGANIZATIONS, people, activities data, and resources involved in moving a product or service from supplier to customer.
Supply chain
It DESCRIBES THE FACTORS OF HOW AN ORGANIZATION CREATES, DELIVERS, AND CAPTURES VALUE IN ECONOMIC, SOCIAL, CULTURAL OR OTHER CONTEXTS.
Business model
Entrepreneurs who plan to enter a business endeavor must have a ___ on hand to guide them throughout the process.
Business plan
What are the components of a business plan?
- Introduction
- Executive summary
- Management section
- Marketing section
- Financial section
- Production section
- Competitive analysis
- Market
- Organizational chart
It discusses what the business plan is all about
Introduction
It is the part of the business plan which is FIRST TO BE REPRESENTED BUT THE LAST TO BE MADE
Executive Summary
It shows HOW YOU WILL MANAGE YOUR BUSINESS
Management section
