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

Explain path for data between two points on a network, Name 3 factors that ...

Name 3 factors that a router must consider when determining the best path for data between two points on a network?

Curtis and kastner stakeholder model, Curtis and Kastner Stakeholder Model ...

Curtis and Kastner Stakeholder Model Curtis and Kastner (1987) sought ways of adding value for each stakeholder group to ensure the long term success of the organisation. Int

Explain behavior and performance with the objectives, The effectiveness of ...

The effectiveness of any compensation system to attract, retain and align employee behavior and performance with the objectives of the enterprise is dependent upon management credi

Explain reluctant to express contrary opinions refers to, The tenanndency f...

The tenanndency for people to be so committed to a cohesive team that they are reluctant to express contrary opinions refers to ____. a. group anxiety b. group innovation

Explain management techniques, Provide two examples of current leaders and ...

Provide two examples of current leaders and describe how they demonstrate their leadership characteristics. What separates these characteristics from management techniques? How eff

What are disadvantages of holding inventory control system, What are the di...

What are the disadvantages of holding inventory control systems? Disadvantages of holding inventory control systems: a. Higher risk of damage, theft and deterioration b.

Explain ford and google companies similar and different, But from the outsi...

But from the outside, it's getting harder every day to articulate what Google is. Is it a Web company? A software company? Something else entirely? How are the situations for Fo

Maximum product exposure - facility layout, Maximum Product Exposure - Faci...

Maximum Product Exposure - Facility Layout  In layout of retail stores, basic purchases and check-out stations are often positioned remote from the shop entrance, obliging the

Products produced by project, 1. Identify products which you would expect t...

1. Identify products which you would expect to be produced by each of the following configurations: project, job shop, and batch and continuous. Answer: Many possible answers:

Explain what is the negative impact on that stakeholder, Which stakeholders...

Which stakeholders that was affected by the bp spill situation in America. What is the negative impact on that stakeholder?

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