2.3

• What are the four main departments discussed in the video series?

  Marketing, operations, finance, human resources
• What is the first production process mentioned?

  Job production
• What is job production?

  One-off production of a unique item
• Give an example of job production.

  Custom wedding dress
• What is batch production?

  Limited quantity of identical products
• How does a bakery use batch production?

  Making pastries in groups of 15 or 20
• What is flow production?

  Continuous production of goods
• When is flow production typically used?

  When there is high demand for products
• What is the purpose of operations in a business?

  Create or provide goods and services
• How do we measure production effectiveness?

  Through productivity and efficiency
• What does productivity measure?

  Quantity produced over time
• What does efficiency refer to?

  Making the most out of resources
• Who is more productive: Shooter A with 7 out of 10 shots or Shooter B with 5 out of 7 shots?

  Shooter A
• Who is more efficient: Shooter A with 70% success or Shooter B with 71.4% success?

  Shooter B
• What is the difference between labor-intensive and capital-intensive production?

  Labor-intensive is human-based; capital-intensive is machine-based
• What are the benefits of machines in production?

  No wages, consistent results
• What is a buffer stock level?

  Minimum stock level to avoid running out
• What does the reorder level indicate?

  When to place a new stock order
• What is lead time in stock management?

  Time between ordering and receiving stock
• What is the concept of just-in-time inventory?

  Ordering less stock more frequently
• What are the three main production methods covered in the video?

  • Job production
  • Batch production
  • Flow production
• What are the key elements of the bargate stock graph?

  • Maximum stock level
  • Minimum stock level (buffer stock)
  • Stock level over time
  • Reorder level
  • Lead time
• What are the strengths and weaknesses of labor-intensive and capital-intensive production?

  Strengths of labor-intensive:

  • Lower upfront costs
  • Human creativity and flexibility

  
  

  Weaknesses of labor-intensive:

  • Ongoing wage costs
  • Human limitations (e.g., breaks)

  
  

  Strengths of capital-intensive:

  • Consistency and efficiency
  • No wage costs

  
  

  Weaknesses of capital-intensive:

  • High initial investment
  • Maintenance costs
• How do productivity and efficiency differ in a business context?

  • Productivity: Quantity produced over time
  • Efficiency: Optimal use of resources
• What is the main idea behind just in time ordering?

  Order less stock more frequently
• How can just in time ordering save money?

  By reducing maximum stock levels
• What is the purpose of buffer stock in inventory management?

  To prevent stockouts during demand fluctuations
• Why is the method called just in time?

  Deliveries arrive just before stock runs out
• What is procurement in a business context?

  Finding and managing suppliers
• What does logistics primarily focus on?

  Delivery of products throughout the supply chain
• How does quality differ across various businesses?

  Quality varies based on industry standards
• What are the key aspects of quality in a restaurant?

  • Quality of food
  • Quality of service
  • Quality of atmosphere
  • Quality of seating and view
• What factors contribute to quality in a beauty spa?

  • Temperature of the environment
  • Quality of treatments
  • Range of options available
  • Customer service quality
• What elements define quality in a hotel?

  • Quality of food
  • Quality of rooms
  • Quality of beds
  • Suitability for different travelers
• What is quality control?

  Checking quality at the end of production
• What is a disadvantage of quality control?

  Problems may be identified too late
• What is quality assurance?

  Checking quality throughout the production process
• What is a potential downside of quality assurance?

  Requires trained staff at every step
• What is a quality culture in an organization?

  • Everyone cares about quality
  • Quality is prioritized at all levels
  • Continuous improvement is encouraged
• What does Kaizen mean?

  Continuous improvement