Business Keywords 2.3

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Batch production

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22 Terms

1

Batch production

Producing a limited number of identical products

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2

Flow production

Continuous production of identical products, which give scope for high levels of automation.

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3

Job production

One-off production of a one-off item for a single customer

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4

Productivity

A measure of efficiency, usually output per person per time period (for examples Nissan UK's 98 cars per worker per year).

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5

Automation

Using machines that can operate without people

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6

Flexibility

The ability to switch quickly and easily from one task to another

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7

Robots

Machines that can be programmed to do tasks that can be done by humans, such as welding, spray painting and packing.

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8

Bar gate stock graph

A diagram to show changes in the level of stock over time

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9

Buffer stock

The minimum stock level held at all times to avoid running out

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10

Just in Time (JIT)

Running the business with so little stock that new supplies have to arrive 'just in time' before they run out.

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11

Stock(s)

Items held by a firm for use of sales, for examples components for manufacturing or sellable products for a retailer

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12

Availability

Knowing how to get the right supplies quickly- just when you need them

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13

Logistics

Ensuring that the right supplies will be ordered and delivered on time

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14

Procurement

Obtaining the right supplies from the right supplier

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15

Trust

Building a business relationship in which both sides know that the other won't let them down.

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16

Culture

'The way we do things round here'; or the accepted attitudes and practices of staff at a workplace

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17

Quality control

Putting measures in place to check that the customer receives an acceptable level of quality

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18

Warranty

The guarantee by the producer that it will repair any faults in a product for a specific period of time - often one year.

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19

Customer engagement

The attempt to make a customer feel part of something rather than an outsider

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20

Customer feedback

Comments, praise or criticisms given to the company by its customers

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21

Post-sales service

Service received after the purchase is completed, perhaps because something has gone wrong or as a way of promoting customer engagement.

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22

Product knowledge

How well staff know all the features of the products and the service issues surrounding the products such as the precise terms of Kia's seven-year warranty on its new cars

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robot