Scales of Production

Flashcards covering key vocabulary and concepts related to scales of production.

Scales of production

Refers to the size or level of production based on factors like type of product, demand, and unit costs.

Bespoke products

Custom-made products tailored to specific needs, produced by skilled artisans, often time-consuming and made by hand.

Batch production

A production method suited for seasonal products with limited demand, such as newspapers and magazines.

Mass production

A method used to produce a large number of products quickly and consistently, requiring significant capital investment.

Kaizen

A philosophy of continuous improvement in processes and systems, leading to long-term benefits.

Lean production

A strategy that aims to reduce waste in production processes by identifying seven distinct types of waste.

Unit Production System (UPS)

A system that uses overhead tracks to move component parts for assembly, offering increased workflow control.

Quick Response Manufacturing (QRM)

A production strategy triggered by consumer demand that emphasizes rapid response to market changes.

Vertical production

A manufacturing strategy where a company controls multiple stages of the supply chain to improve productivity and quality assurance.

Advantages of vertical in-house production

Includes better quality control and more stable pricing, but can lead to management complexity.

Disadvantages of vertical in-house production

Includes higher administrative overhead and potential diversion from core business activities.

Time-based competition (TBC)

A manufacturing philosophy that emphasizes reducing lead times to gain a competitive edge in the market.