GG: SECTION 4: Operations Management Concepts FLASHCARD

Front

What is productivity?

Back

Productivity is the output measured against the inputs used to create it.

Front

What is buffer inventory?

Back

The buffer inventory level is the inventory held to deal with uncertainty in customer demand and deliveries of supplies.

Front

What is lean production?

Back

Lean production is a term for techniques used by businesses to cut down on waste and increase efficiency.

Front

What does Kaizen mean?

Back

Kaizen is a Japanese term meaning 'continuous improvement through the elimination of waste'.

Front

What is just-in-time production?

Back

Just-in-time is a production method that reduces or eliminates the need to hold inventories of raw materials or unsold finished products.

Front

What is job production?

Back

Job production is where a single product is made at a time.

Front

What is batch production?

Back

Batch production is where a quantity of one product is made, followed by a quantity of another item.

Front

What is flow production?

Back

Flow production is where large quantities of a product are produced in a continuous process, also known as mass production.

Front

What are fixed costs?

Back

Fixed costs are costs that do not vary in the short run with the number of items sold or produced.

Front

What are variable costs?

Back

Variable costs are costs that vary directly with the number of items sold or produced.