Business Keywords 2.3

studied byStudied by 15 people
5.0(1)
Get a hint
Hint

Batch production

1 / 21

flashcard set

Earn XP

Description and Tags

22 Terms

1

Batch production

Producing a limited number of identical products

New cards
2

Flow production

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

New cards
3

Job production

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

New cards
4

Productivity

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

New cards
5

Automation

Using machines that can operate without people

New cards
6

Flexibility

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

New cards
7

Robots

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

New cards
8

Bar gate stock graph

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

New cards
9

Buffer stock

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

New cards
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.

New cards
11

Stock(s)

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

New cards
12

Availability

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

New cards
13

Logistics

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

New cards
14

Procurement

Obtaining the right supplies from the right supplier

New cards
15

Trust

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

New cards
16

Culture

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

New cards
17

Quality control

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

New cards
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.

New cards
19

Customer engagement

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

New cards
20

Customer feedback

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

New cards
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.

New cards
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

New cards

Explore top notes

note Note
studied byStudied by 9 people
... ago
5.0(1)
note Note
studied byStudied by 14 people
... ago
5.0(1)
note Note
studied byStudied by 12 people
... ago
5.0(1)
note Note
studied byStudied by 28 people
... ago
5.0(1)
note Note
studied byStudied by 28 people
... ago
5.0(2)
note Note
studied byStudied by 21 people
... ago
5.0(1)
note Note
studied byStudied by 16 people
... ago
5.0(1)
note Note
studied byStudied by 71 people
... ago
5.0(2)

Explore top flashcards

flashcards Flashcard (64)
studied byStudied by 71 people
... ago
5.0(2)
flashcards Flashcard (28)
studied byStudied by 8 people
... ago
5.0(1)
flashcards Flashcard (116)
studied byStudied by 16 people
... ago
5.0(2)
flashcards Flashcard (205)
studied byStudied by 144 people
... ago
4.7(3)
flashcards Flashcard (27)
studied byStudied by 18 people
... ago
5.0(1)
flashcards Flashcard (50)
studied byStudied by 12 people
... ago
5.0(1)
flashcards Flashcard (130)
studied byStudied by 3 people
... ago
5.0(1)
flashcards Flashcard (160)
studied byStudied by 11743 people
... ago
4.6(104)
robot