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

How is capacity management important in the organisation, How is capacity m...

How is capacity management important in the organisation? Capacity management: Capacity management is a procedure which seeks to make sure that the organisation can contr

Explain what is the tax on salvage value, Mars Inc. is considering the purc...

Mars Inc. is considering the purchase of a new machine that will reduce manufacturing costs by $5,000 annually. Mars will use the MACRS accelerated method to depreciate the machine

Explain women in top leadership positions, How can the inclusion of women i...

How can the inclusion of women in top leadership positions in local and national unions be increased?

Sequencing problem, what mean passing time is not allowed in sequencing pro...

what mean passing time is not allowed in sequencing problem in operation research

Define the strategic positioning by reck and long, Q. Define the strategic ...

Q. Define the strategic positioning by Reck and Long? The strategic positioning tool through Reck and Long: Reck and long looked at the various positions or approaches to su

Explain turnover and low retention among expatriate employee, Utilizing Tex...

Utilizing Textbook Concepts Answer ALL of the Questions Below: 1. based on what you've learned this semester, why do you think there is high turnover and low retention among expatr

Explain must decide between two different forecasting tech, An analyst must...

An analyst must decide between two different forecasting techniques for weekly sales of roller blades: a linear trend equation and the naive approach. The linear trend equation is

Customer needs - business strategy, Customer Needs - Business Strategy ...

Customer Needs - Business Strategy A key aspect of developing business strategy is the determination of customer needs and wants in the markets to be targeted. There are many

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