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Production
Total amount of output produced in a time period
Productivity
Output per input per hour
Job production
Making one single product at a time
Batch production
Making more than one item at a time in batches
Flow production
Using production lines with continuous movements
Cell production
Dividing production into separate self-contained areas
Quality of inputs
High skilled labor or machinery improving productivity
Motivation
Higher motivation leads to increased productivity
Investment
Technological changes increasing production efficiency
The role of management
Focus on production and efficiency
Boosting productivity when markets are static
Introducing more efficient ways of working
Efficiency
Reducing wasted inputs for better productivity
Lean production
Approach to management reducing unnecessary waste
Management of staff
Organized staff leads to improved coordination
Labour intensive
Needing many employees to produce products
Capital intensive
High costs tied up in machinery
Capacity utilisation
Percentage of total capacity being achieved
Fixed costs
Rent, salaries, utilities, etc.
Stock control
Managing the flow of stock in a business
Quality
How well a product or service performs its intended function
Quality control
Checking and reviewing work for faulty output
Quality assurance
Organizing processes to get the product right the first time
Total Quality Management (TQM)
Systems of quality assurance for each worker
Quality circles
Groups of employees meeting to identify improvements
Continuous improvement (Kaizen)
Introducing small changes to improve quality and efficiency
Note 
Flashcard (27)