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6. 4 types of businesses that are usually part of a supply chain
- farming, manufacturing, packaging, transportation
- selling at apple, cleaning, building, designing
7. disadvantage of JIT?
- may receive the incorrect delivery
- more space required- more money needed (expensive)
- when come at a late time
8. benefits of job production?
- low staff retention, fewer staff
- high quality, good staff retention, customer satisfaction
- less to sell, long time to produce
9. disadvantage of JIC
- more space for all the stock-expensive to pay foe extra room and product life may terminate (expire)
- wrong product could be delivered, suppliers could be getting confused
10. what is total quality management (TQM)
- a quality assurance approach where all employees have a target of 'zero defects' and are therefore responsible for quality.
- the amount of quality provided
11. advantage of JIC
- deliveries happen more then needed to you have extra product stock just in case it is needed (buffer stock)
- comes every so often
12. how to calculate average unit cost
- total cost / number of units
- number of units / total cost
13. what is lean production?
- aims to make a business more efficient by reducing waste ensuring quality.
- input arrives right when needed
14. benefits of lean production?
- quality performance, faster development, less space required
- more machines-more space needed
- not much stock turnover needed
15. what is efficiency?
- how well a business uses its resources to produce products
- how good and fast a product is produced
16. example of flow production?
- car manufacturer where the vehicle is assembled as it moves along the assembly line.
- car made to reach customer needs and requirements
17. 3 important factors a business should consider when choosing a supplier
- reliability, consistency, value for money
- looking to see if the company is known, how long to been in business
18. example of lean production?
- pair programming, writing criteria
- a well working system, calendars-organisation
19. what is a supply chain?
- group of firms that are involved in all the processes required to make a finished product or service available to a customer.
- selling products to customers via phone.
- when a business keeps its staff.
- when people in a market are divided into different groups.
20. what does logistics mean?
- process which pans, implements and controls distribution and storage of goods and services.
- how efficient a business is
- layout of a business
- how a business operates