Efficiency GapFill

BUFFER STOCKS

A buffer stock is an amount of stock which is held by a business in case    a representative a salesman a delivery an order  does not arrive.  This prevents the production line from having to stop because of stock-outs. Buffer stocks allow a business to take advantage of   book block bulk brook -buying discounts and mean that it can respond to a sudden surge in demand. A drawback is that holding stock leaves it open to deterioration and theft. Plus there is the  opportunity threat weakness strength  cost where working capital is tied up in stock when it could be used elsewhere. 

STOCK IN

When stock is in, it is available.  Stock could be raw  materials fabric satin nylon , work in progress or finished goods. 

STOCK OUT

When stock is out, it is not available.  This can mean disappointed customers or a stopped production line  The business needs an effective modern   human resources finance inventory recruitment system to make sure this does not occur.  It can also hold buffer stocks to prevent customers from going elsewhere. 

JIT DELIVERY

Just-in-time delivery is where stocks are not held in   a park an office a warehouse a shop ; the suppliers keep the stocks and deliver them directly to the production line just as they are needed. Companies such as Honda and Toyota use JIT delivery on their car assembly lines. 

WASTE MINIMISATION

Waste of any kind in a business will add to the  average modal mode formula  unit cost of the product to manufacture, so it needs to be kept to a minimum. This can mean reducing the number of faulty goods being reworked by improving product design. It can also mean looking at opportunities in a business to reuse, renew and recycle. 

LEAN PRODUCTION

Lean production is the term used by a business when it aims to cut wastage and therefore the   crisps cusps casts costs  of the business.

QUALITY CONTROL

This is where there is a team of   takers jesterstesters people who inspect the product once it has   disappeared  broken dissolved been finished .  They look for  defects arguments cracks stress  and will reject any products which are substandard. They may take samples of the product for testing or random samples during the production process.

QUALITY ASSURANCE

This is where quality is   ordereddesigned forced hammered into the product from the start.  Quality is considered to be the responsibility of every employee, who looks to ensure that every stage of production is a quality process.  Quality assurance is about the   action prevention promotion hindrance  of defects before they happen. 

TOTAL QUALITY MANAGEMENT

Total Quality Management is also known as   QMT TMQ MMTTQM for short. This is a company-wide attitude change towards quality. Every employee and manager is encouraged to improve the services, procedures, actions, activities and processes involved in production of the goods. TQM is an organisational approach to focus on quality in everything they do.  This includes continuous improvement, which is also known as   quality kaizen curtain control, which aims to improve the production process a little more each time.