Business Studies - Operations Management

Costs that change directly with the amount a business produces (e.g., raw materials).

A Japanese term for continuous improvement, where small changes are made regularly to improve quality and efficiency.

Using machines or technology to do work automatically, with little or no human input.

Producing a limited number of identical products before switching to produce a different batch.

The amount of output produced per unit of input (like workers or machines) in a given time.

The point where a business's total revenue equals its total costs.

Costs that stay the same regardless of how much a business produces (e.g., rent).

Continuous production of identical products, usually on a production line.

Using computer software to design products.

The activities involved in making goods or providing services.

The cost advantages a business gains by increasing its scale of production.

A stock management system where materials arrive just when they are needed for production.

The cost disadvantages a business faces when it grows too large.

A method of production that aims to reduce waste and improve efficiency.

Producing one-off, unique items tailored to individual customer needs.

Using resources well, without wasting time, money, or materials.