Business 0.0 / 5 ? Business StudiesOperations managementASAQA Created by: TomHowarthhCreated on: 23-03-17 11:30 The level of inventory that riggers an action to replenish the stock Re-order Level 1 of 14 A reserve of a commodity that can be used to offset price flucuations Buffer stock 2 of 14 Runs out of inventory resulting in loss of sales and goodwill Interest costs 3 of 14 May require more space and supervision of stock Oobsolescence risk 4 of 14 Completed products ready for sale or distribution Finished goods 5 of 14 Minimal capital tied up in inventories Llean production 6 of 14 Often considered the most important; value for money is crucial Price 7 of 14 Ability to handle increasd volumes of supply, perhaps at short notice Capacity 8 of 14 Crucial for a business to satisfy cutomers Better quality 9 of 14 Fewer production delays, less wastage Increased productivity 10 of 14 Where a business buys goods and services from a supplier and pays for them later Trade credit 11 of 14 Delivers the correct product on time, goods and services as decribed Reliability 12 of 14 Responsible for recruiting, rewarding, developing and firing Human Resources 13 of 14 Organisational design, finance, general management Infrastructure 14 of 14
Comments
No comments have yet been made