business chap 23 key terms

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  • Created by: ngaelsa
  • Created on: 18-04-17 14:33
Operation planning
preparing input resources to supply products to meet expected demand
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CAD (Computer aided design)
the use of computer program to create 2D/3D graphical representation of physical objects
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CAM (Computer aided manufaturing)
the use of computer software to control machine tools and related machinery in the manufacturing of components and completed products
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Operation flexibility
the ability of the business to vary both the level of production and range of products following changes in customer demand
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Process innovation
the use of a new and much improved production method or service delivery
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Job production
producing one-off item specially designed for customer
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Batch production
producing a limited number of identical products, each item in the batch passes through one stage of production before to another one
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Mass customisation
the use of flexible computer-aided production system to produce items to meet individual customer's requirement at a mass-production cost level
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Opimal location
location of a business that gives the best combination of quantitative and qualitative factor
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Quantitative factor
these are measurable in financial terms and will have a direct impact on either the cost of site, revenue from it or its profitability
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Qualitative factor
non-measureable factors that influence business decision
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Multi-site location
a business that operates from more than 1 location
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Multinational
a business with operations and productions based in more than 1 country
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Offshoring
the relocation of a business process done in 1 country to the same or another company in a different country
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Trade barriers
taxes (tariffs) or other limitaions on the free international of goods and services
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Scale of operation
the maximum output that can be achieved using available input resources. This scale can one be increased in the long term by employing more of all inputs
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Economies of scale
reduction in a firm's average cost of production resulted from an increase in scale of operation
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Diseconomies of scale
factors that lead to a rise in a firm's average cost of production when the scale of operation is increased
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Other cards in this set

Card 2

Front

the use of computer program to create 2D/3D graphical representation of physical objects

Back

CAD (Computer aided design)

Card 3

Front

the use of computer software to control machine tools and related machinery in the manufacturing of components and completed products

Back

Preview of the back of card 3

Card 4

Front

the ability of the business to vary both the level of production and range of products following changes in customer demand

Back

Preview of the back of card 4

Card 5

Front

the use of a new and much improved production method or service delivery

Back

Preview of the back of card 5
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