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 increase the objective function value which is good, Could someone ...

Could someone please explain how the objective function value would change when the right hand side value changes? For maximization questions: For a positive shadow price, an incre

Variety management, what are the different methods of variety management of...

what are the different methods of variety management of manufactured goods

Case Study, After working for 30 years, Ramjee Somjee Dutt opted for VRS an...

After working for 30 years, Ramjee Somjee Dutt opted for VRS and started a courier company and did very well in the first four years. He was now looking for expansion of his busine

Explain what different kinds of management challenges, 1. What different ki...

1. What different kinds of management challenges these four CEOs faced as they took control of managing their different companies?

Objectives of production control, Objectives of Production Control An...

Objectives of Production Control An enterprise wishes to obtain the following objectives through production control: 1.Making necessary arrangement for the production of goo

Mass customisation - operation strategy, Mass Customisation - Operation Str...

Mass Customisation - Operation Strategy This example of mass customisation is rather limited in scope to denim trousers. A customer who wishes to purchase a jacket of a partic

Explain replacement are covered under the adea, Harvey Jameson was recently...

Harvey Jameson was recently terminated as comptroller at the age of 66 from Better Beef, Inc. His replacement is Tammy Parker, age 45. Because both he and his replacement are cover

Valuate the production quantity, Using the data, suppose the manufacturer h...

Using the data, suppose the manufacturer has an inflated demand forecast as follows: Quantity Probability 2,200 5% 2,300 6% 2,400 10% 2,500 17% 2,600 30% 2,700

Performance measurement in organisations, Performance Measurement 1. A...

Performance Measurement 1. An effective performance measurement framework rarely is derived from one single approach.  2. Each of the methods outlined comes with its own un

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