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 research and industrial engineering, What future for Operations ...

What future for Operations Research/Industrial Engineering? In your own words, answer the following questions in an essay: What is this presentation about? What does th

Explain inventory control, Explain inventory control. Inventory Contro...

Explain inventory control. Inventory Control - its importance and scope: Inventory control is the scientific way of finding out how much stock  be maintained so as to meet the

Explain several influencing factors, Forecasts for groups of items tend to ...

Forecasts for groups of items tend to be less accurate than forecasts for individual items because forecasts for individual items don't include as many influencing factors.

Solution to the transportation problem, A transportation problem can be sol...

A transportation problem can be solved by two methods using (a) simplex methods and(b) transportation method. We shall illustrate these with the help of an example. Exam

Describe decision making, Q1. What is SWOT Analysis.? Q2. Explain Decision ...

Q1. What is SWOT Analysis.? Q2. Explain Decision making.

Tqm, benefit from total quality management in operations management

benefit from total quality management in operations management

Describe economic downturn, Please give a detailed answer on how to handle ...

Please give a detailed answer on how to handle the situation: You work for a small consulting firm and, like most companies; you are currently facing tight budget constraints given

Explain what difference does it make, Use a dystopian narrative within Mart...

Use a dystopian narrative within Martin Luther King's speech. What difference does it make?

Explain accounting for health care organizations, What are some ways in whi...

What are some ways in which accounting for health care organizations (HCOs), especially not-for-profit (NFP) ones, tends to differ from accounting in other industries?

Define competitive position of a firm isnt as per adl matrix, Which of the ...

Which of the following competitive position of a firm is not as per ADL Matrix? (a) Dominant (b) Favourable (c) Difficult (d) Tenable

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