People, money, raw materials and assets such as factories or offices
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What are outputs?
Goods and services
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How can a business be more productive and efficient?
1. Produce the same output with fewer inputs 2. More/better outputs from the same inputs
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What is computer-aided design (CAD)?
Models two- and three-dimensional shapes quickly on a screen.
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What is CADCAM (computer-aided design/computer-aided manufacturing)?
Using data from a CAD system to drive machines as part of the manufacturing process.
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What is CIM (computer-integrated manufacturing)?
A computer-controlled manufacturing system that drives machine tools. These tools have multi-purposes that can be programmed and reprogrammed to produce physical tasks.
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What is computer-based inventory control?
An inventory control that is used in manufacturing and retailing to ensure the arrival of inventory just in time for purchase by the end-customer
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What is an EPOS (electronic point-of-sale system)?
When new inventory arrives the item goes through a series of stages to register it with a barcode and get it to the consumer including a record of the transaction
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What are three other ways to improve business efficiency?
1. Changes in working methods (e.g. cutting out wasteful activities that take time up) 2. total quality management - ensuring quality is achieved at every stage of production
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Continued
3. People simply working harder - perhaps because there is some form of bonus or other motivating factor
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What is automation?
The use of machines in a series of tasks. Each machine is linked to another without human intervention.
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Other cards in this set
Card 2
Front
What are outputs?
Back
Goods and services
Card 3
Front
How can a business be more productive and efficient?
Back
Card 4
Front
What is computer-aided design (CAD)?
Back
Card 5
Front
What is CADCAM (computer-aided design/computer-aided manufacturing)?
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