AICE Business AS Level Unit 4: Operations Management

AICE Business AS Level Unit 4: Operations Management




Efficiency


Producing output at the highest ratio of output to input


Effectiveness


Meeting the objectives of the business by using inputs productively to
meet customers' needs


Sustainability of Operations


Business operations that can be maintained in the long term, for example,
by protecting the environment and not damaging the quality of life for
future
generations

Labor Intensive


Involving a high level of labor input compared with capital equipment


Capital Intensive


Involving a high quantity of capital equipment compared with labour
input

, Job Production


Producing a one-off item specially designed for the customer


Batch Production


Producing a limited number of identical products - each item in the batch
passes through one stage of production before passing on to the next
stage

Flow Production


Producing items in a continually moving process


Mass Customization


The use of flexible computer-aided production systems to produce
items to meet individual customers' requirements at mass production
cost levels

Inventory


Materials and goods held by a business and required to allow for the
production of products and their supply to the customer


Inventory Management


The process of ordering, storing and using a company's inventory