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

Process design, Task 1 Read: Chapter 4 of the Core learning material and su...

Task 1 Read: Chapter 4 of the Core learning material and supporting text chapters on Process Design. Task 2 Investigate: Consider the operations of your own organisation (or ano

Developing an layout, What is the difference in strategy in developing an i...

What is the difference in strategy in developing an initial layout for a new facility as comparedn to the strategy in improving the layout of an existing facility?

Explain city water supply system, The network in figure below shows the pip...

The network in figure below shows the pipeline transportation system for treated water from the treatment plant (node 1) to a city water supply system (node 14). The arc capacities

Explain type of inventory management, What are some different companies tha...

What are some different companies that could benefit from using this type of inventory management and why?

Explain homogenous group, In a diverse team, a "fault-line" refers to: a. C...

In a diverse team, a "fault-line" refers to: a. Cases in which a team tends to find fault or blame in the other team members rather than their own behaviour b. Cases in which group

Activity sampling - process design, Activity Sampling - Process Design ...

Activity Sampling - Process Design This is a method of finding the percentage occurrence of a certain activity by statistical sampling and random observation. It is used when

Explain business law deals with criminal law, Business law deals with crimi...

Business law deals with criminal law, tort law and contract law. Explain and illustrate each field and show how each field of law can affect a business.

Facility layout - process design, Facility Layout - Process Design In ...

Facility Layout - Process Design In addition to the sequence of the processes, consideration must also be given to their physical layout in relation to each other. This is an

Explain enable them to limit the probability of a stockout, A wine company'...

A wine company's daily demand is normally distributed with a mean of 18 bottles, and a standard deviation of 4 bottles. This company checks their winery's stock every 30 days. In t

Explain sow contains words such as nearly or approximately, If the customer...

If the customers SOW contains words such as nearly or approximately, then: Answer The project manager uses his discretion in determining the meaning The sponsor uses his d

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