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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