Operations & Management

^{One of the disadvantages of JIC is ....}

• high costs are associated with inventory holdings

• economies of scale from very large orders

• capital invested in inventory is reduced

• delivery costs will increase

Below are the contributions of operations to added value,, except

• building a brand

• quality

• flexibility and innovation

• efficiency of production

"Intangible knowledge and skills which a business has access or rights over" is the definition of....

• Productivity

• Intellectual capital

• transformation process

• effectiveness

State one way to increase productivity

Effectiveness is producing output at the highest ratio of output to input

• True

• False

Labour intensive production involving a high level of capital equipment compared with labour input

• True

• False

The advantages of capital-intensive production is...

• low maintenance costs

• interesting and varied work for the workers

• consistent quality

• low machine costs

"an activity or group of activities that transforms inputs, adds value to them, and produces outputs for customers" is the definition for...

• sustainability

• transformation process

• production

• effectiveness

Small businesses may not be able to finance the expensive IT systems needed to operate JIT

• True

• False

Which business whose main asset is intellectual capital?

• Chocolate factory

• University

• Restaurant

• Furniture shop