Maximum Inventory Level, The most amount of inventory a business should hold, Lead Time, The time taken between an order being placed and inventory arriving, Buffer Inventory, Extra inventory below the agreed minimum for emergencies, Centralised Storage, Storing inventory in one central location in a large purpose built warehouse, Decentralised Storage, Storing inventory in many locations in smaller warehouses, Capital Intensive, Involves producing products primarily by machines, Automation, Production that is fully automated, Mechanisation, Labour and machines working together to produce a product, Quality Assurance, Products are checked at different stages for high quality, Quality Control, Raw materials or finished goods are checked for quality, Continual Improvement, Known as Kaizen, Quality Circles, Employees and line managers meet to discuss problems in the production process, Quality Standards, Proves a product has met an agreed standard, Quality Management, Holistic approach incorporating many quality methods and aiming for zero errors, Mystery Shopper, Often employed through an agency to behave as a customer and feedback to organisation, Benchmarking, Copying the quality and techniques of the market leader, Philanthropy, Helping those in need, Behaving Ethically, Showing moral consideration for others, Being Environmentally Friendly, Showing consideration for the environment

HBM Operations

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