Inventory and Supply Chains (AQA A-Level Business): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What does inventory include for a business?
What does inventory include for a business?
Raw materials, work in progress, finished
What are the 3 key stages of the supply chain?
What are the 3 key stages of the supply chain?
Materials to maker, making, distribution
What does flexibility in operations mean?
What does flexibility in operations mean?
How well a business adapts to customer needs
What is mass customisation?
What is mass customisation?
Tailored goods meeting individual needs
How does speed of response benefit a business?
How does speed of response benefit a business?
Competitive advantage & customer satisfaction
What are the 2 meanings of dependability?
What are the 2 meanings of dependability?
Punctuality & product reliability/durability
What problems occur with insufficient supply?
What problems occur with insufficient supply?
Lost sales, damaged reputation, lost future
What problems arise from excess supply?
What problems arise from excess supply?
Holding costs, tied capital, waste risk
Why are strong supplier relationships important?
Why are strong supplier relationships important?
Needed for fast response to customers
What advantages does mass customisation provide?
What advantages does mass customisation provide?
Higher satisfaction & competitive advantage