Buffer stock - A stock of raw materials held in reserve to protect the production process from
unforeseen shortages.
Customer loyalty - The likelihood that past customers will continue to buy from the business,
enhanced by high quality customer service and/or reward programmes.
Customer satisfa...
AQA GCSE (9-1) Business - Paper 1
Buffer stock - ✔✔A stock of raw materials held in reserve to protect the production process from
unforeseen shortages.
Customer loyalty - ✔✔The likelihood that past customers will continue to buy from the business,
enhanced by high quality customer service and/or reward programmes.
Customer satisfaction - ✔✔Whether customers are pleased with the goods/services they receive;
whether they would purchase again.
Flow production - ✔✔Using a production line to make goods continuously and in large numbers.
Inspection - ✔✔Testing/examining items to check that materials or items conform to the specified
requirements/standards.
Job production - ✔✔A method of creating a single product to meet an individual order.
Just in case (JIC) - ✔✔Organising procurement to ensure that the production process never runs out of
stock, reducing the number of sales lost due to insufficient raw materials.
Just in time (JIT) - ✔✔Organising the ordering of raw materials and components to be delivered just
before they will be used, reducing the need for storage.
Logistics - ✔✔Managing the movement of supplies and products to ensure the timely delivery of
supplies to the production process and finished products to customers.
Procurement - ✔✔The process of buying goods and services including dealing with, demand, selection
of suppliers, analysing and negotiating prices, making the purchase & managing payments.
, Product knowledge - ✔✔An in-depth understanding of the features, use and application of the
good/service that will enable the person selling it to provide any information that
the purchaser wants before committing to buy.
Product recalls - ✔✔The withdrawal from sale by the manufacturer of a defective or contaminated
item.
Productivity - ✔✔The amount produced by a worker/machine/factory in a given time; the ability to
produce more output with fewer resources.
Purchasing - ✔✔The business buys the goods and services that it needs for producing the goods
it sells or for delivering the services it sells.
Raw materials - ✔✔Businesses that use raw materials that are heavy and/or bulky choose to locate
close to their suppliers to reduce the cost of transport or storage.
Supplier - ✔✔A business that provides goods/services.
Supply chain - ✔✔The network of organisations, people, activities, information and resources that
take the product/service from supplier to customer.
Total quality management (TQM) - ✔✔A philosophy that involves everyone in the business in the quest
for continual
improvement in the attitudes, practices, structures and systems that combine to
create a top-quality product.
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