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Explain Production in terms of management.
Production is any procedure or process developed to transform a set of input elements as men, capital, materials, energy and information in a specified set of output element as finished products and services in proper quantity and quality, therefore achieving objectives of an enterprise. The production essence is the creation of goods and services. Here four recognized factors of production, as:
* Nature (Land and other material resources)
* Labour (Human efforts)
* Capital (Factory tools, machinery and building)
* Enterprise (activity which organizes many factors of production)
Product Layout - Connected Flow Where the demand for a single product is sufficiently high to warrant truly continuous operation (mass production for discrete items such as, c
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Garden Variety Flower Shop uses 750 clay pots a month. The pots are purchased at $2 each. Annual carrying cost per pot are estimated to be 30 percent of the cost and ordering costs
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