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

Calculate five year moving averagetle.., The figures below indicate the num...

The figures below indicate the number of mergers that took place in the savings and loan industry over a 12-year period. Year Mergers Year Mergers 2000 46 2001 46 2002 62 2003 45 2

Explain bp''s first problem, Describe BP'S first problem, which involved th...

Describe BP'S first problem, which involved the firms IT function. Discuss BP'S solution to this problem.

Explain the legal environment of hrm includes eeo, The Legal environment of...

The Legal environment of HRM includes EEO, Affirmative Action, and Americans with Disabilities Act. Discuss each explaining significance.

Explain district investigation of sexual harassment case, Peter Lewiston wa...

Peter Lewiston was terminated on July 15, 2004, by the governing board of the Pine Circle Unified School District (PCUSD) for violation of the district sexual harassment policy. Pr

Which coca-cola products are main likely to lose customers, Some industry a...

Some industry analysts think soft-drink companies should develop products that will bring new customers into the market rather than just creating variants on the old. They warn tha

Economic order quantity, The Warehouse Company supplies spare parts for its...

The Warehouse Company supplies spare parts for its two plants, Plant A and PlantB. Plant A and Plant B do not have any significant storage space. Hence you want carryminimum possib

After working for 30 years, After working for 30 years, Ramjee Somjee Dutt ...

After working for 30 years, Ramjee Somjee Dutt opted for VRS and started a courier company and did

Explain how the project scope will be defined, The project scope planning p...

The project scope planning processes include all of the following EXCEPT: A. How the project scope will be defined B. How the requirements will be collected C. How the work brea

Lean Management, Please can u give me case analysis of Sunwind AB(HBC Case)...

Please can u give me case analysis of Sunwind AB(HBC Case)

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