Gcse Business unit 3 Flashcards

Making one unique item at a time (e.g., a custom wedding cake or bridge). Pros: High quality, high price, high employee motivation. Cons: Very slow, high cost per unit.

Focuses on reducing waste in the production process to improve efficiency.

Mass-producing identical items on a continuous assembly line (e.g., canned soda). Pros: Low cost per unit, very fast. Cons: Huge setup costs, low employee motivation (repetitive work).

Stock arrives only when needed for production, saving money on storage but risky if the supplier is late.

The process of selecting and managing suppliers.

Decisions are based on price, quality, reliability, and ethical standards.

Ensuring the smooth flow of materials from the supplier to the business and then to the customer.

Managing the movement and storage of goods. Poor logistics can lead to loss of profit and damaged reputation.

Checking the final product at the end of production to find faults.

Building quality into every stage of production to prevent mistakes before they happen.

An approach where every employee is responsible for quality, leading to continuous improvement. Benefits: Better reputation, fewer returns, ability to charge higher prices.

Excellent service can give a business a competitive advantage.

Includes product knowledge, speed of service, and various payment options.

Providing support after purchase (e.g., technical help or clear returns policy).

Technology like chatbots, website tracking, and social media helps businesses interact faster but less personally with customers.