4.1.1 The Meaning of Production Managing resources effectively to produce goods and services Operations Management is defined as the process of production of goods and services. Successful operations management produces goods efficiently , in sufficient quantities to meet demand, at the right time, with the right quality. In 4.1 we need to know how to
4.2.1 Identify and Classify Costs Classifying costs using examples Costs may not seem as exciting as earning revenue, but costs have a huge impact on profit. It’s essential for business people to understand where their costs come from, how costs change with production and how to control costs. Identifying and classifying costs is much more
4.3.1 Why Quality is Important and How Quality Production Might be Achieved What quality means We have looked in detail at how to manufacture products efficiently to meet consumer demand. However, businesses must also ensure products are a high quality. A quality product meets customers’ expectations, and is ‘fit for purpose’. But what does that
4.4.1 Location and Relocation of a Business Factors relevant to the location decision of manufacturing businesses and service businesses Location has a huge impact on the success of businesses. You need to know the factors that will influence the location of both a manufacturing and service business, or the decision to locate internationally. You also
