Presentation -Production of goods and services (IGCSE Business Studies)
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Curriculum topics covered: (OPERATIONS MANAGEMENT - UNIT 4)
4.1 Production of goods and services
4.1.1 The meaning of production:
• Managing resources effectively to produce goods and services
• Difference between production and productivity
• Benefits of increasing efficiency and how to increase it, e.g. increasing productivity by automation and technology, improved labour skills
• Why businesses hold inventories (stocks)
• Concept of lean production; how to achieve it, e.g. just-in-time inventory control and Kaizen; benefits of lean production
4.1.2 The main methods of production:
• Features, benefits, and limitations of job, batch, and flow production
• Recommend and justify an appropriate production method for a given situation
4.1.3 How technology has changed production methods, e.g. using computers in manufacturing and design
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