Managing stock and quality

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Stock
Raw materials, works in progress and finished products
1 of 8
Maximum Stock Level
This is the most stock that a firm is able or willing to hold
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Just In Time Stock Control
A stock management system where stock is delivered only when it is needed
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Minimum Stock Level
If stock falls below this level then the firm is in danger of running out of supplies
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Quality
Meeting customers' needs by creating high standard products
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Quality Control
Where finished products are checked by inspectors to see if they meet the set standard
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Quality Assurance
Where staff checks every product at every stage for a certain standard
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Total Quality Management (TQM)
Where managers persuade employees to care about how products are made and to ensure standards are met
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Other cards in this set

Card 2

Front

This is the most stock that a firm is able or willing to hold

Back

Maximum Stock Level

Card 3

Front

A stock management system where stock is delivered only when it is needed

Back

Preview of the back of card 3

Card 4

Front

If stock falls below this level then the firm is in danger of running out of supplies

Back

Preview of the back of card 4

Card 5

Front

Meeting customers' needs by creating high standard products

Back

Preview of the back of card 5
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