Volume, Variety, Variation in Demand and Visibility (HSC SSCE Business Studies): Flashcards
📚Flashcards
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Practise the cards
10 cards from this deck
Transformation in operations
Transformation in operations
Conversion of inputs into outputs
Manufacturing business outputs
Manufacturing business outputs
Tangible products
Service business outputs
Service business outputs
Intangible services
The four Vs of operations
The four Vs of operations
Volume, Variety, Variation in demand, Visibility
Volume in operations
Volume in operations
Quantity of products made or services delivered
Volume flexibility
Volume flexibility
How quickly process adjusts to demand changes
Lead time
Lead time
Time for order fulfillment from when it's placed
Mix flexibility (variety)
Mix flexibility (variety)
Mix of products made or services delivered
Variation in demand
Variation in demand
Fluctuations in customer orders over time
Visibility in operations
Visibility in operations
How customer feedback influences transformation processes