Operations Management

What is productivity?

• the output measured against the inputs used to create it.

• the inventory held to deal with uncertainty in customer demand and deliveries of supplies.

• refers to techniques used by businesses to cut down on waste and increase efficiency, often by reducing product development time.

• Japanese term that means 'continuous improvement through the elimination of waste.'

Define buffer inventory level.

• the output measured against the inputs used to create it.

• the inventory held to deal with uncertainty in customer demand and deliveries of supplies.

• refers to techniques used by businesses to cut down on waste and increase efficiency, often by reducing product development time.

• Japanese term that means 'continuous improvement through the elimination of waste.'

What is lean production?

• the output measured against the inputs used to create it.

• the inventory held to deal with uncertainty in customer demand and deliveries of supplies.

• refers to techniques used by businesses to cut down on waste and increase efficiency, often by reducing product development time.

• Japanese term that means 'continuous improvement through the elimination of waste.'

What is Kaizen?

• the output measured against the inputs used to create it.

• the inventory held to deal with uncertainty in customer demand and deliveries of supplies.

• refers to techniques used by businesses to cut down on waste and increase efficiency, often by reducing product development time.

• Japanese term that means 'continuous improvement through the elimination of waste.'

Describe the Just-in-time production method.

• a production method that aims to reduce or eliminate the need for holding inventories of raw materials or finished products.

• is where a single product is made at a time.

• nvolves producing a quantity of one product and then moving on to produce another quantity of a different product.

• known as mass production, involves producing large quantities of a product in a continuous process.

What is job production?

• a production method that aims to reduce or eliminate the need for holding inventories of raw materials or finished products.

• is where a single product is made at a time.

• nvolves producing a quantity of one product and then moving on to produce another quantity of a different product.

• known as mass production, involves producing large quantities of a product in a continuous process.

Define batch production.

• a production method that aims to reduce or eliminate the need for holding inventories of raw materials or finished products.

• is where a single product is made at a time.

• involves producing a quantity of one product and then moving on to produce another quantity of a different product.

• known as mass production, involves producing large quantities of a product in a continuous process.

Explain flow production and its alternative name.

• a production method that aims to reduce or eliminate the need for holding inventories of raw materials or finished products.

• is where a single product is made at a time.

• involves producing a quantity of one product and then moving on to produce another quantity of a different product.

• known as mass production, involves producing large quantities of a product in a continuous process.

Define variable costs.

• Also known as overhead costs, are costs that do not vary with the number of items produced or sold.

• costs that change directly with the number of items produced or sold.

• refer to the sum of fixed and variable costs in production.

• calculated by dividing total cost of production by total output.

What is the meaning of total costs in production?

• Also known as overhead costs, are costs that do not vary with the number of items produced or sold.

• costs that change directly with the number of items produced or sold.

• refer to the sum of fixed and variable costs in production.

• calculated by dividing total cost of production by total output.