Edexcel Business Unit 3 - All Units Revision 2022 Updated

Edexcel Business Unit 3 - All Units Revision 2022 Updated Design mix - The range of variables which contribute to successful design: they are function, cost and appearance. Stocks - Materials that a business holds. Some could be materials waiting to be used in the production process and some could be finished stock waiting to be delivered to customers. Maximum stock level - The highest amount of stock to be kept by a business Re-order level - The amount of stock held by a business at which an order for new stock is placed with suppliers Buffer stock or minimum stock level - The lowest amount of stock to be kept by a business Just In Time (JIT) - A stock management system where stocks are only delivered when they are needed by the production systems, and so no stocks are kept by a business Quality - Achieving a minimum standard for a product or service, or a production process, which meets customers' needs Quality control- CONTINUES...