2.4 Resource Managment

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Capital intensive manufacturing
Manufacturing that relies more heavily on machinery.
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Labour intensive manufacturing
Manufacturing that relies heavily on labour.
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Factors that influence efficiency
Outsourcing to cheaper services, Downsizing, Investing in new technology, Delayering etc
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Productivity
The level of output a particular firm can achieve given its current level of resources over a given time period.
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Productivity formula
Output/time
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Labour Productivity
How many units of output each worker can produce in a given period of time.
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Labour Productivity Formula
Output/ Number of workers
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Capacity Utilisation
How much of their current capacity a company is currently using.
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Capacity Utilisation Formula
Current output/ Maximum Potential output x 100
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Issues of Full Capacity
Tired workers, mistakes, more machine breakdowns, overtime staff costs.
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Just In Time Production (JIT)
Stock should be avaliable when a company needs them, no earlier, no later.
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Influences on the volume of stocks held
Social trends, Seasonality, Storage space avaliable, cash flow, type of product.
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Lean Manufacturing
Relentlessly working on eliminating waste from the manufacturing process.
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Quality Control
Based on inspection or checking of the completed product.
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Quality Assurance
Based on setting agreed quality standards at all stages in the production of a good/service.
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Total Quality Management
It makes every member of staff's responisibility to monitor quality and contribute to improving quality.
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Quality Circles
A group of employees who meet to consider ways of improving productivity.
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Kaizen
Continuous improvement along a production line to improve efficiency and quality.
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Other cards in this set

Card 2

Front

Manufacturing that relies heavily on labour.

Back

Labour intensive manufacturing

Card 3

Front

Outsourcing to cheaper services, Downsizing, Investing in new technology, Delayering etc

Back

Preview of the back of card 3

Card 4

Front

The level of output a particular firm can achieve given its current level of resources over a given time period.

Back

Preview of the back of card 4

Card 5

Front

Output/time

Back

Preview of the back of card 5
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