Production Methods and Business Calculations

Front

The purpose of production is to create goods and services.

Back

Production involves creating goods and services to meet customer needs.

Front

Job production method advantages

Back

Unique products, high quality, higher prices.

Front

Job production method disadvantages

Back

Need highly skilled workers, lengthy process, highest cost per unit.

Front

Examples of job production

Back

Tailoring, bridges, Olympic Stadium.

Front

Batch production method advantages

Back

Variety and choice for customers, materials purchased in bulk, lowering production costs.

Front

Batch production method disadvantages

Back

Work is repetitive, equipment must be cleaned after each batch.

Front

Examples of batch production

Back

Bread, clothing.

Front

Flow production method advantages

Back

Bulk buyer leads to lower unit costs, production 24/7, consistent quality.

Front

Flow production method disadvantages

Back

High capital investment, less flexibility to adapt products, very repetitive work.

Front

Impact of technology on production

Back

Lower costs, increased productivity, improved quality, competitive prices.