Operations management CIE iGCSE

The process of converting inputs such as land, labour and capital into saleable goods (outputs), for example shoes and cell phones

• Efficiency

• Productivity

• Production

• Economies of scale

A measure of the efficiency of inputs used in the production process, in particular labour and capital

• Work in progress

• Production

• Inventories

• Productivity

Which one of the following is not a type of inventory?

• Raw materials

• Flow production

• Work in progress

• Finished goods

The stock of raw materials, work in progress and finished goods

• Labour

• Capital

• Inventories

• Obsolescence

Total output / Number of employees = ???

• Labour productivity

• Capital productivity

• Land productivity

• Opportunity cost

Part finished goods that have yet to be completed and are not ready to be sold to the consumer yet

• Work in production

• Work in progress

• Work in productivity

• Work in profit

Inventory that is finished and is ready to be sold to the consumer

• Finite goods

• Finale goods

• Finalised goods

• Finished goods

Damaged, lost or stolen inventories = ???

• Growth costs

• Shrivel costs

• Shrinkage costs

• Opportunity costs

Inventory that becomes unpopular and not in demand as it was held for too long = ???

• Mummified

• Perishable

• Retirement

• Obsolescence

Money that could be used elsewhere but cannot be due to it being 'tied up' in holding inventories

• Opportunity cost

• Shrinkage cost

• Handling cost

• Insurance cost