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Production of goods and services

Introduced
Handout Watch lesson
Vocabulary
English Meaning
production/prəˈdʌkʃn/The process of combining resources to create goods or provide services.
inputs/ˈɪnpʊts/Resources or values used by a process to produce outputs.
outputs/ˈaʊtpʊts/The goods, services or other results produced by an activity or production process.
productivity/ˌprɒdəkˈtɪvɪti/Output produced per unit of input over a given period.
job production/dʒɒb prəˈdʌkʃn/Making a single product or completing a specific order to a customer's requirements.
batch production/bætʃ prəˈdʌkʃn/Making a set of identical products together before changing to another set.
flow production/fləʊ prəˈdʌkʃn/Continuous production in which products pass through a sequence of standardised stages.
lean production/liːn prəˈdʌkʃn/An approach to production that reduces waste while maintaining value for the customer.
waste/weɪst/The unnecessary or inefficient use of resources, time or effort.
just-in-time/dʒʌst ɪn taɪm/A production and inventory approach in which supplies arrive close to when they are needed, reducing stock held.

Handout

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IGCSE, A-Level & AP