Business operations and technology (Edexcel GCSE Business): Flashcards
📚Flashcards
Practise the cards
13 cards from this deck
ShowHide
Practise the cards
13 cards from this deck
CAD function
CAD function
Creates digital designs, reduces errors, speeds up design process
SCM systems function
SCM systems function
Track products from supplier to customer, improve coordination
GPS uses in business
GPS uses in business
Track deliveries, manage logistics, location-based services
EPoS systems function
EPoS systems function
Process transactions, update inventory, provide sales data
3D printing capabilities
3D printing capabilities
Creates products from digital designs, rapid prototyping, small-scale manufacturing
E-commerce advantage
E-commerce advantage
Sell online, reach customers beyond physical location
4 benefits of technology
4 benefits of technology
Speeds production, connects customers, cuts costs, fewer errors
3 challenges of technology
3 challenges of technology
Costly investment, becomes obsolete, requires training
Economies of scale definition
Economies of scale definition
Average cost per unit falls as production volume increases
How economies of scale work
How economies of scale work
Spread fixed costs across more products
What productivity measures
What productivity measures
How efficiently workers produce goods/services
2 ways to improve productivity
2 ways to improve productivity
Increase output same resources OR reduce costs same output
4 factors for tech decisions
4 factors for tech decisions
Productivity, costs, flexibility, quality