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Tiếng anh chuyên ngành kinh tế, Exercises of Legal English

Tiếng anh chuyên ngành kinh tế

Typology: Exercises

2020/2021

Uploaded on 12/13/2021

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UNIT 8: PRODUCTION
Vocabulary: Industrial production
1. Inventory (AmE and BrE) or stock (BrE) is a company’s reserves of raw
materials, parts, work in process, and finished product
2. A component is any of the pieces of parts that make up a product or machine
3. Capacity is the (maximum) rate of output that can be achieved from a production
process
4. Plant is a collective word for all the buildings, machines, equipment, and other
facilities used in the production process
5. Location means the geographical situation of a factory or other facility
6. A supply chain is a network of organizations involved in producing and
delivering goods or a service
7. Outsourcing means buying products or processed materials from other companies
rather than manufacturing them
8. Economics of scale are the cost savings arising from large-scale production
9. Lead time is the time needed to perform an activity such as manufacturing a
product or delivering it to a customer
Reading: Capacity and inventory
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
A,E C D A,E A D F E F E B E B E B,F
Listening 1: Purchasing
1. What does he describe as ‘one of the main goals of any company’?
He describes as one of the main goals of any company is to drive down the cost of
raw materials and components that are used in manufacture
2. What is the advantage of being part of a larger group of companies?
It is having the leverage of global buying power, that helps enomoursly
3. How does a reverse auction work?
They post on an Internet site the lowest price with which they would do business
with us and compete against each other in that way
4. Why is it called ‘reverse’?
Because reverse has to be very carefully managed and there are a number of
strategies in its use
5. What does he mean by ‘price isn’t everything’
He means they also have to guarantee quality and guarantee that the company can
supply with reliable to that given price
6. What is the consequence of this?
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UNIT 8: PRODUCTION

Vocabulary : Industrial production

  1. Inventory (AmE and BrE) or stock (BrE) is a company’s reserves of raw materials, parts, work in process, and finished product
  2. A component is any of the pieces of parts that make up a product or machine
  3. Capacity is the (maximum) rate of output that can be achieved from a production process
  4. Plant is a collective word for all the buildings, machines, equipment, and other facilities used in the production process
  5. Location means the geographical situation of a factory or other facility
  6. A supply chain is a network of organizations involved in producing and delivering goods or a service
  7. Outsourcing means buying products or processed materials from other companies rather than manufacturing them
  8. Economics of scale are the cost savings arising from large-scale production
  9. Lead time is the time needed to perform an activity such as manufacturing a product or delivering it to a customer Reading : Capacity and inventory 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 A,E C D A,E A D F E F E B E B E B,F Listening 1: Purchasing
  10. What does he describe as ‘one of the main goals of any company’? He describes as one of the main goals of any company is to drive down the cost of raw materials and components that are used in manufacture
  11. What is the advantage of being part of a larger group of companies? It is having the leverage of global buying power, that helps enomoursly
  12. How does a reverse auction work? They post on an Internet site the lowest price with which they would do business with us and compete against each other in that way
  13. Why is it called ‘reverse’? Because reverse has to be very carefully managed and there are a number of strategies in its use
  14. What does he mean by ‘price isn’t everything’ He means they also have to guarantee quality and guarantee that the company can supply with reliable to that given price
  15. What is the consequence of this?

It is one tool and even once the price has been determined they may not choose the lowest price Listening 2: Low-cost manufacturing

1. What are the advantages of having factories in Singapore and China? The advantages of having factories in Singapore and China are a long-time industry, providing low-cost manufacturing and they are able to maintain quality 2. Why is this not sourcing? Because this is wholly owned by Leica 3. What was the problem with staff in China? The problem was mainly to do with training local staff, but particularty staff retention, because the economy was booming so much 4. Fill in the gaps in this extract Yes, when we first set up the company in China there were a great many problems, mainly to do with training local staff, but particularly staff retention , because the economy was booming so much, we found that after training staff, bringing them up to the standards we expected, they were very attractive to other companies and could easily move and take their skill elsewhere, so there was a constant process of training and retraining , it was very hard to retain staff. Reading : The Dell Theory of Conflict Prevention **Comprehension

  1. Why does Thomas Friedman think countries involved in a major global supply chain are unlikely to start a war?** Because the people embedded in major global supply chain don’t want to fight old-time wars any more. They want to make just-in-time deliveries of goods and services - and enjoy the rising standards of living that come with that 2. Why does Michael Dell think the computer industry deserves more praise than it gets? Because he believes that as time and progress go on there, the chance for a really disruptive event goes down exponentially 3. What would be the consequences if a country in a major global supply chain did start a war? If a country in a major global supply chain did start a war, the consequences would be disrupting industries and economics around the world and thereby risking the loss of time, which could be extremely costly 4. What consequences has the evolution of supply chains had?

Handling n The act of taking or holding something in the hands Sự điều khiển Obsolescence n The progress of becoming outdated and no longer used Lỗi thời Computers are infamous for their rapid obsolescene Theft n The action or crime of stealing Trộm cắp He was convicted of theft Breakage n The action of breaking something Đứt gãy Some breakage of bone has occurred Variation n A change or difference in condition, amount, or level Biến thể Utilize v Make practical and effective use of Tận dụng Vitamin C helps body utilize the iron present in your diet Auction n A public sale in which goods or property are sold to the highest bidder Bán đấu giá The Picture is expected to appear in the auction Stipulate v Demand or specify (a requirement) Quy định He stipulated certain conditions before their marriage Embed v Fix firmly and deeply in a surrounding mass ấn vào, cắm vào He was embedded in his hand by thorn Equity n the value of the shares issued by a company Vốn chủ sở hữu He owns 62% of the group’s equity Disruptive a Causing or tending to cause disruption Gây rối The hours of work are disruptive to home life Expotentially adv More and more rapidly Theo hàm mũ Our business has been growing expontentially Weave v Form by interlacing long threads passing in one direction with others at a right angle to thêm Dệt Textiles are woven from linen or wool Prosperity n The state of being prosperous Sự phồn vinh He wished the couple a life of happiness and prosperity

UNIT 9: LOGISTICS

Vocabulary : Pull and push strategies

  1. Accurate : correct, exact and without any mistakes
  2. Agile : able to move quickly and easily
  3. Estimate (n): a guess of what the size or amount of something might be
  4. Forecast (n): a statement of what is expected to happen in the future
  5. Lean (adj): (of production) using small quantities and avoiding any waste
  6. Logistisc : designing and managing the flow of goods, information and other resources
  7. Manual (adj): done with the hands
  8. Replenish : to fill something up again Reading : Pull and push strategies
  9. Manufacturing companies can produce according to pull or push strategies
  10. In other words, this is a replenishment strategy: both production and supplies are constantly reacting to the actual consumption of components, rather than planning ahead
  11. This replenishment strategy was famously developed as Just-In-Time (JIT) production by Toyota in Japan in the 1950s. the most common JIT system is called Kanban, a Japanese word approximately meaning ‘visual card’
  12. Historically, Kanban was a manual system in which cards were placed in component bins in warehouses as a signal that items needed to be replenishing; today, of course, advanced software is used
  13. Apart from JIT, other names for pull strategies include lean production, stockless production, continuous flow manufacture and agile manufacturing. In all these system, nothing is bought or produced until it is needed
  14. With a pull strategies, a company manufactures according to current demand, which is satisfied from (a small) inventory. When pieces are removed from stock, replacement are automatically ordered from suppliers
  15. Supplies are scheduled to meet expected demand, but because demand forecasts are not always accurate, push strategies often incorporate safety stocks and safety lead times
  16. With a push strategy such as Manufacturing Resources Planning (MRP), on the contrary, production is based on estimates of future, and begin according to the planned production lead time Comprehension:
  17. Pull strategies are based on estimated future demand
  18. Pull system only buy or produce things when they are needed

always very expensive, they try and drive down inventory, they do not want inventory, but they have to balance the needs of local customers and the fast turnover of stock with the cost of keeping that inventory Reading : Supply-chaining Comprehension

1. Fill the gaps, and then put the following sentences in the correct order. The first one has been done for you - A Wal-Mart truck picks up boxes of merchandise at a supplier’s factory or warehouse - The boxes are placed on a small conveyor belt - The small conyeyor belt joins a larger one - A machine reads the bar codes on each box - Electric arms guide the boxes off the main river onto another smaller one - This belt leads to another bay where the boxes are swept onto Wal-Mart trucks - The goods are uploaded at Wal-Mart’s distribution centre - The products are deliveried to the Wal-Mart store that ordered them - The cashier scans the product, which sends a signal to the Wal-Mart network to produce another one - A customer buys a products 2. What are the three main metaphors that Friedman uses in this passage? Why does he use them? The three main metaphors are viewing perch and watched the show, stream feeding into a powerful river, an electric eye reads the bar Reading : Manufacturing supply chain work flow

  1. The sales departments identifies a need for a product, and tells the marketing department about it
  2. The marketing department researching the Project, and forwards a detailed business plan to the Busineess Unit Manager
  3. The senior business managers make a decision on the project
  4. The plan approved and passed to the analysts tp prepare and implement the manufacturing process
  5. The purchasing, logistics and transport departments plan the purchase of materials and their delivery to the manufacturing plant
  6. Suppliers receive orders and despatch raw materials and components to the manufacturing site on agreed dates
  7. The product is manufactured
  8. The order is sent to the warehouse
  1. Finished goods are put into inventory in a warehouse awaiting orders, and the computer system is updated
  2. Customers place orders through customer services
  3. Customer services take orders and input them to the computer system
  4. Finished goods are put into inventory in a warehouse awaiting orders, and the computer system is updated
  5. The transport company collects the consignment and delivers it to the customer
  6. As stock has now been used the computer system generates a request for new stock
  7. The re-order process generates a request to the purchasing department to place new orders with supplier Glossary Word Form En meaning Vie meaning Example Warehouse n A large building where raw materials or manufactured goods may store Kho I leave unused items in warehouse Schedule n A plan for carring out a process Lịch trinh Famous people have a pretty dến schedules Constantly adv Continuously over a period of Liên tục The world is constantly changing Consumption n The using up of a resources Sự tiêu thụ Power consumption becomes high nowadays Trade-off n A compromise Đánh đổi Human being always deal with trade-off Discount n A deduction from the usual cost of something Chiết khấu Many stores will offer a discount on bulk purchases Revenue n Income, especially when of a company or organization and of a substantial nature Doanh thu The revenue of this month is higher than that of last month Merchandise n Goods to be bought or sold Hàng hóa Stores that offered an astronishing range of merchandise Conveyor belt n A continous Băng chuyền Passengers will leave

eassily Manual a Done with a hand Thủ công Manual sourrvenirs are pretty beautiful Replenish v Fill something up again Bổ sung Waitor replenishes clients’glass with water