Production, Operation Management

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.

Posted Date: 12/10/2012 2:14:45 AM | Location : United States







Related Discussions:- Production, Assignment Help, Ask Question on Production, Get Answer, Expert's Help, Production Discussions

Write discussion on Production
Your posts are moderated
Related Questions
Complete a net material requirements schedule for: a) All items (10 schedules in all), assuming the requirement for each BOM item is 1. b) All 10 items, assum

How do these policies and practices align with Apple, Inc.'s legal compliance standards? If alignment is not present, how does this affect the role of the HRM prof

how to calculate idletime of each row

Explain Production in terms of management. Production is any procedure or process developed to transform a set of input elements as men, capital, materials, energy and inform

Paul Gett is a well-known wealthy financial expert living in the city of Torris. Adam Wade, Gett's friend, tells Timothy Brown that he is Gett's agent for the purchase of rare coin

Linear Programming Concept paper. Submit a Linear Programming Concept Paper about the following 1. The two types of linear programming discussed. 2. Five examples of LP appli

Is the Human Resource strategic partner's specialized approach a little boring to the employees and the organization?

Think back to a time when you wondered about a practice or structure within an organization. If you cannot remember such a situation from your own work history, you may write about

The Central Evaluation Unit Task 1: Analyse and evaluate the processing of new applications at the CEUPU: • Create a process map for new applications • Calculate the cycle time for

What do you understand by “line balancing”? What happens if balance doesn’t exist?