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Business IB 11
Batch production
involves producing a set of identical products. Work on each batch is fully complete before production switches to another batch.
Capital Intensive
means that the manufacturing or provision of a product relies heavily on machinery and equipment. Example – automated production systems. Hence, capital costs account for most of capital intensive firm's overall cost of production.
Flow production
is a form of mass production that uses continuous and progressive processes, carried out in sequence. When one task is completed, the next stage of production starts immediately.
Mass customization
is an operations method that uses flexible manufacturing systems to mass produce products that meet individual customer needs and wants
Mass production
is the large-scale manufacturing of a homogenous (standardized) product. Unit costs of production are relatively low when using mass production methods.
Job production
involves the manufacturing of a unique product or one-off job. The job can be completed by one person (such as a tailor) or a team of people (such as architects and engineers).
Labour intensive
means that productions relies heavily on labour inputs, so the cost of labour accounts for the largest proportion of the firm’s overall production costs. It is most apparent in the provision of personalized services.
Standardization
means producing an identical or homogeneous product in large quantities, such as printing a particular magazine, book or newspaper.
