Pearson Edexcel International A Level Business Unit 2.3.4 Resource Management (4 Complete Lessons)

Pearson Edexcel International A Level Business Unit 2.3.4 Resource Management (4 Complete Lessons)

1 Production, productivity and efficiency
a) Methods of production:
• job
• batch
• flow
• cell.
b) Productivity:
• output per unit of input per time period
• factors influencing productivity
• link between productivity and competitiveness
• ways to improve productivity.
c) Efficiency:
• production at minimum average cost
• factors influencing efficiency
• ways to improve efficiency.
d) The distinction between labour- and capital-intensive production.
e) Competitive advantage from short product lead-in times.
2 Capacity utilisation
a) Capacity utilisation: current output (divided by) maximum possible output (× 100).
b) Implications of under- and over-utilisation of capacity.
c) Ways of improving capacity utilisation (under and over utilisation).
3 Inventory control
a) Interpretation of inventory control diagram.
b) Buffer inventory.
c) Implications of poor inventory control.
d) Just in time (JIT).
e) Waste minimisation.
f) Competitive advantage from lean production.
4 Quality management
a) Quality:
• control
• assurance
• circles.
b) Total Quality Management (TQM).
c) Continuous improvement (Kaizen).
d) Competitive advantage from quality management.