The range of variables which contribute to successful design; they are function, cost and appearance.
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Stocks
Materials that a business holds. Some could be materials waiting to be used in the production process and some could be finished stock waiting to be delivered to customers.
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Maximum stock levels
The highest amount of stock to be kept by a business.
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Re-order level
The amount of stock held by a business at which an order for new stock is placed with suppliers.
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Buffer stock level or Minimum stock level
The lowest amount of stock to be kept by a business.
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Just In Time (JIT)
A stock management system where stocks are only delivered when they are needed by the production system, and so no stocks are kept by a business.
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Quality
Achieving a minimum standard for a product or service, or a production process which meets customers needs.
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Quality Control
Ensuring that a product or service meets minimum standards, often through testing of sample products once they have been made.
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Quality Assurance
Ensuring that quality is produced and delivered at every stage of the production process, often through making quality the responsibility of every worker.
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Customer Service
The experience that a customer gets when dealing with a business and the extent to which that experience meets and exceeds customer needs and expectations.
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Innovation
The process of transforming inventions into products that can be sold to customers.
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Sales of goods legislation
Give consumers rights to compensation if a product they buy is not of merchantable quality, not as described or not fit for purpose.
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Trade description legislation
Makes businesses liable for prosecution and fines if products are sold in a misleading way.
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Other cards in this set
Card 2
Front
Materials that a business holds. Some could be materials waiting to be used in the production process and some could be finished stock waiting to be delivered to customers.
Back
Stocks
Card 3
Front
The highest amount of stock to be kept by a business.
Back
Card 4
Front
The amount of stock held by a business at which an order for new stock is placed with suppliers.
Back
Card 5
Front
The lowest amount of stock to be kept by a business.
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