Which functional area is responsible for producing products?
Human resources
Operations
Marketing
Which method of production allows businesses to tailor their products to the customer’s needs?
Job production
Flow production
Lean production
Which of the following is not a type of lean production?
Kaizen
Just-in-time
Which method of production will allow a business to produce large quantities of identical products?
What does JIT stand for?
Just-in-case
Just-inside-time
Which of these is an advantage of just-in-time (JIT)?
It eliminates buffer stock, allowing previously used storage space to be used as sales space
Buying in smaller quantities means a loss of bulk-buying discounts
The business is more likely to be able to meet spikes in demand
How does a business measure how efficient it is?
Average rate of return
Cost per unit
Net cash flow
What does lean production aim to reduce?
Waste
Selling price
Quality
Which product is most likely to be made using job production?
Wedding dress
Frozen fish fingers
Televisions
Which product is most likely to be made using flow production?
Wedding cake
Biscuits
Hand-made crafts