Chapter 5: Production Improving Productivity

1. Chapter 5: ProductionImproving Productivity ______________ and ______________ are closely related. It is important that an ______________ in productivity results in an ______________ in profit. Increased productivity consists of the following: • maintaining ______________ while increasing ______________ • ______________ quality while ______________ speed • increasing both quality and speed at the ______________ Improving and maintaining productivity is often dependent on * * * *

2. Chapter 5: ProductionFactors of Production Training Training programs that develop a person’s_________ and ____________ are essential in the development of a productive employee. Four Major Types of Training • ? • ? 3. ? 4. ? Capital Investment Investment of capital into things, such as new _______________________________________ contribute to ____________ productivity.

3. Investment in Technology Utilizing up-to-date technology enables companies to ______________ and ______________ upon their ______________ edge. Roboticsand ______________, the use of computer-controlled machinery to perform repetitive tasks, is another way companies can improve productivity. What are some possible disadvantages to having technology in the workplace? List 3. * * * Chapter 5: ProductionFactors of Production

4. New Inventory Systems Just-in-time (JIT): _______________________________________ _______________________________________________________ _______________________________________________________ Requiring up-to-date statistical information, this system ___________, ___________, ___________, and ___________ to increase productivity. Benefits include having the ___________ material, at the ___________ time, at the ___________ place, and in the right ___________ Chapter 5: ProductionFactors of Production