Influences on Operations Management (HSC SSCE Business Studies): Flashcards
📚Flashcards
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Practise the cards
10 cards from this deck
Quality (definition)
Quality (definition)
How well designed, made & functional; service competence degree
DFD framework for goods quality
DFD framework for goods quality
Design, Fitness for purpose, Durability
PRL framework for service quality
PRL framework for service quality
Professionalism, Reliability, Level of customisation
Cost-based competition
Cost-based competition
Creating cost advantages via breakeven analysis & cost reduction
Breakeven point
Breakeven point
Level where total revenue equals total costs
Fixed costs
Fixed costs
Costs that don't depend on level of operating activity
Variable costs
Variable costs
Costs that vary directly with production levels/activity
Cost leadership strategy
Cost leadership strategy
Reducing costs to minimum while maintaining profit margins
Economies of scale
Economies of scale
Reducing average cost per unit as production volume increases
Fixed vs variable (production stops)
Fixed vs variable (production stops)
Fixed costs still paid; variable costs drop to zero