Summary Chapter 4 - Resource Management: AS level edexcel business studies revision summaries
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Course
Business economics
Institution
Bachillerato
These notes/summaries were made by me personally during the Y12 course, referring to the following book: 9781292239170, and UNIT 2 (Managing Business activities). These are spectacular notes, which I complete using the indicated book together with other platforms in order to finish the entire sylla...
Contents
RESOURCE MANAGEMENT (4)...............................................................................................................1
PRODUCTION, PRODUCTIVITY AND EFFICENCY.................................................................................1
JOB PRODUCTION..........................................................................................................................1
BATCH PRODUCTION.....................................................................................................................1
FLOW PRODUCTION.......................................................................................................................2
CELL PRODUCTION.........................................................................................................................2
CAPACITY UTILISATION (38)...............................................................................................................5
INVENTORY CONTROL (39)................................................................................................................7
JIT MANAGEMENT OF INVENTORY................................................................................................8
QUALITY MANAGEMENT (40)............................................................................................................9
TOTAL QUALITY MANAGEMENT (TQM).......................................................................................11
PRODUCTION, PRODUCTIVITY AND EFFICENCY
Production takes place when resources, are changed into products. Factors, such as land, labor,
capital, and enterprise are all used in the production process.
JOB PRODUCTION
This is a method of production that involves employing all factors to complete one unit of output at
a time, therefore items are made individually, and each item is finished before the next one is
started. It involves creating a specific customized product for a specific customer; meeting all
requirements for the customer (labor intensive)
BATCH PRODUCTION
1
, Borja Jimenez Business A-level
Method of production that involves completing one operation at a time on all units before
performing the next. A method where a group of identical products are produced simultaneously
rather than one at a time. The business makes a number of products to the same design or
specification (standardization) and then changes production to another product with different
specifications.
FLOW PRODUCTION
Large-scale production of a standard product, where each operation of a unit is performed
continuously one after another, usually on a product lin/e. It involves making large quantities of
identical items on an assembly line. The main features of flow production are:
Large quantities are produced
A standardized product is produced
A semi-skilled workforce, specializing in one operation only
Large amounts of machinery and equipment are used (capital intensive)
Large stocks of raw materials and components
CELL PRODUCTION
Cell production is a method of mass production that divides work into sections called cells. Machines
and equipment are grouped together on a manufacturing floor and used for the sequential
production of parts that have similar characteristics.
PRODUCTIVITY
Relates to the amount of output that can be produced with a given input of services
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