The process of scientific and technological research and development of a product before it is launched.
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What is the design mix?
The range of variables that contribute to successful design.
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What are the three factors of the design mix?
Function, cost and appearance.
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What is stock?
Materials that a business holds, which includes raw materials and finished products.
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What is maximum stock level?
The highest amount of stock held by a business.
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What is the 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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What is buffer stock / minimum stock level?
The lowest amount of stock held by a business.
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What is Just in Time (JIT)?
A stock management system where stocks are only delivered when they are needed by the production system, and so very little stock is held by the business.
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What is quality?
Achieving a minimum standard for a product or service which meets customers' needs.
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What is quality control?
Ensuring that a product meets minimum standards, often through testing a sample of products once they have been made.
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What is 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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What does Kaizen mean?
Continuous improvement in Japanese.
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What is Kaizen?
A Japanese technique of improving quality whereby employees are encouraged to give their suggestions for improvements.
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How do we calculate productivity?
Total output / number of workers.
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What does productivity measure?
The output per worker.
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How can productivity be increased?
Training, better equipment and more effective working practices.
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What will improved productivity reduce?
The cost per unit.
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How can we reduce costs?
Improved purchasing, relocation, better design and cutting overhead costs.
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What will reduce costs allow the firm to do?
Charge more competitive prices.
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What is 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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What does good customer service involve?
Accuracy, on-time service/delivery and dealing well with complaints.
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What does good customer service lead to?
Repeat purchase.
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What does bad customer service lead to?
Damaged reputations and lower sales, therefore less profit.
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What does the Sales of Goods Legislation involve?
This gives consumers right to compensation if a product they buy is not of merchantable quality, not as described or not fit for purpose.
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What does the Trades Description Legislation involve?
This makes businesses liable for prosecution and fines if products are sold in a misleading way, including giving false information, failing to give important information or acting aggressively in their sales techniques.
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Other cards in this set
Card 2
Front
What is the design mix?
Back
The range of variables that contribute to successful design.
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