Objectives are the foundation of production management without which the production cannot get completed. Production management deals with decision-making related to production processes so that the resulting goods or service is produced according to specification, in the amount and by the schedule demanded and at minimum cost.

Definition

“The set of interrelated management activities, which are involved in manufacturing certain products, is called as Production Management.

“Production management deals with decision-making related to production processes so that the resulting goods or service is produced according to specification, in the amount and by the schedule demanded and at minimum cost.”

 

1.Right Quality

The quality of the product is a very important parameter for every organization without quality the product cannot establish itself in the competitive market. Today’s the market is a buyers market so one has to be very conscious about the quality aspect.

2.Right Quantity

 The manufacturing organization should always be in the position to produce the product in right number to the required quantity to satisfy the customer needs

3) Right Time

The time factor is very important in business timeliness of delivery is an important parameter as it judges the effectiveness of production department.

4) Right Manufacturing Cost

Manufacturing cost is established before the product is actually manufactured because it can be a major distinguishing feature of the product.

A production is an intentional act of producing something in an organized manner. It is the fabrication of a physical object through the use of men, material and some function which has some utility e.g. repair of an automobile, legal advice to a client, banks, hotels, transport companies etc. The main inputs are information, management, material, land, labor, and capital.

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