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Level 19

Unit 19


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buoyant
healthy and strong
labour intensive
needing a lot of workers
natural wastage
reduction in the number of people who work for an organisation which is achieved by not replacing those people who leave
voluntary redundancy scheme
arrangement when a company needs to reduce its workforce and some employees choose to be made redundant (because they have found another job or would like to stop working)
excess production capacity
ability of a factory to produce more than it actually does
glitch
small problem or fault that prevents something from working well
hire and fire
employ and dismiss
lead time
time needed to design and develop a new product
product-led
activities are determined by the requirements of the product (as opposed to customer-led or marketing-led)
retool
change or replace machinery in a factory
stockpile
build up a large store of goods which have not been sold yet
symposium
occasion at which people who have great knowledge of a particular subject meet in order to discuss a matter of interest
incentive payment
financial reward to stimulate action from staff or customers
churn out
produce large amounts of something quickly, usually of low quality
downside
disadvantage of a situation
gadget
small device or machine with a particular purpose
manufacturing base
all the companies producing goods in a country or region
shift
sell
vagaries
any of a set of unusual or unexpected events or changes that have an effect on someone