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Business Studies Operations


Matching the operations term with its definition

transformation  the mutural dependence that the key functions have on one another.
value adding refers to how quickly operations processes can adjust to changes in the market
lean production the process of measuring actual performance against planned performance
strategic the arrangement of equipment, machinery and staff within the facility
cost leadership refers to creation of individualised products to meet the specific needs of the customers
economies of scale a term broadly referring to distribution but includes transportation, the use of storage, warehousing and distribution centres, materials handling and packaging.
product differentiation the conversion of inputs (resources) into outputs (goods and services)
interdependence  is characterised by the manaufacturing of a high volume of constant quality goods
suply chain theose inputs that carry out the transformation process
global web aiming to have the lowests cost or to be the most price-competitive in the market
fixed costs involves the use of a system to ensure that set standards are achieved in production
varibale costs involves the use of inspections at various points in the production process to check for problems and defects
outsourcing affecting all key business areas; that is, the management involves operations managers contributing to the stategic direction or strategic plan of the business
inputs  specific criteria used to measure the efficiency and effectiveness of the business's performance
raw materials  a process that allows a standard, mass produced item to be personally modified to specific customer requirements
intermediate goods distinguishing products in some way from its competitors
information an inventory managment approach which ensures that the exact amount of material inputs will arrive only as they are needed in the operation process
key performance indicators (KPIs) assumes that the first goods purchased are also the first goods sold
transforming resources involves integrating and managing the flow of supplies throughout the inputs, transformation processes and outputs in order to best meet the needs of customers
lead time an operational arrangement in which employees and equipment come to the product
sequencing refers to the length of time activities take within the operations process
scheduling  those costs that vary in direct relationship to the level of business activity
gantt chart assumes that the last goods purchased are also the first goods sold
critical path analysis the network of suppliers a business has chosen on the basis of lowest overall cost, lowest risk and maximum certainty in quality and timing of supplies
task design where the equipment arrangement relates to the sequence of tasks performed in manufacturing a product
plant layout  the resources used in the transformation process
process layout somebody who initiates change or facilitates the change process
product production the cost advantages that can be created as a result of an increase in scale of business operations.
product layout eliminating waste at every stage of production
fixed position layout the scheduling method or technique that shows what tasks need to be done, how long they take and what order is necessary to complete those tasks
monitoring  a term that describes a psychological resistance to change
control the knowledge gained from research, investigation and instruction, which results in an increase in understanding
bottleneck an aspect of the tranformation process that slows down the overall processing speed or creates an impediment leading to a backlog of incompletely processed products
dependability concept focuses on managing the total business to deliver quality to customers
flexibility refers to the order in which activities in the operations process occur
customisation adding value as inputs are transformed into outputs
mass customisation the use of outside specialist to undertake one or more key business functions
supply chain management are those costs that did not change regardless of the level of business activity
sourcing  a type of bar chart that shows both the scheduled and competed work over a period of time
supplier rationalisation a performance objective, refers to how consistent and reliable a business's products are
logistics the arrangement of machines such that the machines and equipment are grouped together by the function they perform
LIFO refers to the purchasing of inputs for the transformation processes
FIFO classifying job activities in way that make it easy for an employee to successfully perform and complete the task
JIT the essential substances in their unprocessed state
quality management the time it takes for an order to be fulfilled from the moment it is made
quality control an ongoing commitment to improving a business's goods or services
quality assurance refers to those processes that a business undertakes to ensure consistency, reliability, safety and fitness of purpose of product
continuous improvement  involves assessing the number of suppliers in order to reduce the number of suppliers to the least amount
total quaility management occurs when KPIs are assessed against perdetermined targets and corrective action is taken if required
inertia the range of suppliers a business has and the nature of its relatiosnhip with those suppliers
change agent the goods manufactured and used in further manufacturing or processing

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