Production, Operation Management

Assignment Help:

Production

Production is any process or  procedure developed to transform a set  of input elements  such as men,  materials capital, information and energy into a specified set  of  output elements like finished products and services in proper quantity and quality thus achieving the objectives of an enterprise. The spirit of production is the formation of goods, may be by the transformation of raw material or by assembling so many small parts (as in television or scooter manufacturing). Production in everyday life can be noticed in factories hospitals offices etc, there are four recognized factors of production:

  • Nature (land and another natural resources),
  • Labour (human efforts),
  • Capital (factory building machinery tools raw materials etc), and
  • Enterprise (activity which organizes another factors of production into operating units) 

 

According to E .S. Buffa, production is a procedure by which goods and services are created. In common  production  is the  use of  any process or procedure designed to transform a set of input  elements  into  a set  of output  element, which have use value and economic value.


Related Discussions:- Production

Provide description of the business model, Create the document with conside...

Create the document with consideration to the following: E-Commerce business plan Use Word Title Page Table of Contents Use of the auto generated table of contents

Case let, 1. What modification would you suggest in enhancing the existing ...

1. What modification would you suggest in enhancing the existing logistics system?

Define hierarchy of needs, Assuming you agree with Maslow's "Hierarchy of N...

Assuming you agree with Maslow's "Hierarchy of Needs" how would you use the theory to motivate employees? If you accept theory "Y" assumptions, how would you be likely to motivate

Public and private service sector - education, Public and Private Service S...

Public and Private Service Sector - Education 1. Life long learning; increased personal cost 2. Increase in competency/vocational qualifications 3. Global study on the

Explain project management tools for a health care, "Project Management" Pl...

"Project Management" Please respond to the following: •Determine the key characteristics that should be considered when selecting project management tools for a health care organiz

Explain self-awareness and empathy, The perceptual distortion of projection...

The perceptual distortion of projection can be controlled thru a high degree of/ 1.ethical behaviour/2.cognitive consistency/3.emotional discernment/4. self-awareness and empathy/5

Calculate the desired cycle time, A company is setting up an assembly line ...

A company is setting up an assembly line to produce 192 units per 8-hour shift. The following table identifies the work elements, times and immediate predecessors:  (a)  Wh

Describe the legalese of bribery and bartering, Discuss the legalese of bri...

Discuss the legalese of bribery and bartering? Compare and contrast business ethics of two foreign countries.

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd