Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
Importance of production and operations management
Importance of production and operations management
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Recommended: Importance of production and operations management
Production Management System refers to processing centralize environment, where in this system controls aspects in production. This generates with some information that provides inventory, with this system production management plans an effective production that monitors the production target by the economy. Production Management System gives many ways to a better performance of a company for the growth of economy and this is common especially in production. According to Karauolova T. (2011) “production mangers and engineers may be directly responsible for searching out ways to decrease the use of energy”. This tells about the progression of economy, the cost of energy give highly increases, so it grows through the use of energy efficiency. Production Management System can help in the growth of the economy through energy efficiency consumption. The production is able to make the product affordable to the costumers and by the use of energy efficiency, the quality of the product is improve and the production target by the economy are successfully developed by the system used in production. According to Belokar R.M. (2009) the main objective in the Production Management is production providing goods and services in right quality and to the minimum cost that is used. This means that Production Management System is produce a good quality with a small cost amount that is important to make the investment will push through. This investment gives a big factor for the growth of the economy because it gives opportunity to the company, that company aid the growth of the succession of the economy Production Management System did many things for the growth of economy. The first is planning and organizing in fast production, this is the first ... ... middle of paper ... ...dered. These factors are considered as Production Management System this is to help the growth of economy through the use of energy that the Production Management System wanted for the growth of economy and this energy efficiency is the right sources to produce a less cost of product. It is recommended to those persons who are concerned about the production. Labor is the effort that people contribute to the production goods and services capital as the machinery, tools and buildings humans use to produce goods. Entrepreneur is a person who combines the other factors of production, land labor and capital to earn a profit and for te success of the economy. Works Cited http://www.google.com.ph/url?sa=t&rct=j&q=&esrc=s&source=web&cd=6&sqi=2&ved=0CEoQFjAF&url=http%3A%2F%2Fwww.ammic.com%2Fq_a%2Fq2.html&ei=FnQcU9e2E4P1iQe8voGYDg&usg=AFQjCNFCggQaTLpq_iT41mr9kOcnVZaAFA
The effectiveness of the production control system helps to improve the quality of the company’s product while still reducing the costs. The company is constantly looking for ways to increase the effectiveness of their production. They want to ensure that the product is at the quality they expect and always are looking to improve the quality of the product. Reduction of costs is another factor they consider, but the company refuses to produce a product that is not the quality they expect no matter what the cost savings are.
In order for a company to push its improvement and create a balanced plant, it is necessary to increase the throughput, while reducing inventory an operating expense. But, what is most important is to identify the bottlenecks to be able to focus on them. After focusing and solving the constraints, everything else is going to be less powerful but important at the same time.
Constant stage is defined as, in the manufacturing process the period in which the output of labor time per hour stabilizes is known as constant stage. In order to give brief explanation of constant stage we have to understand the learning curve and predecessor activities of constant stage, in an organization when new product or a new manufacturing process is introduced, the direct labor hours required to produce one unit would decrease as laborers become more familiar with the process. It is a established fact that the average time required to complete one unit will decrease at constant rate from initial unit produced until the complete learning has been achieved. Such effect of learning process on laborers is called learning curve. The learning curve is computed on statistical determinations that as aggregate number of units produced doubles the average direct labor time required per unit will decrease at constant percentage which is called cost reduction percentage. The time period to which the product output per hour increase is known as learning stage. A certain stage comes in the production process whereby any further improvements in output per hour can only be achieved by changing the nature of the production process itself or by changing or improving the equipment being used for production, the period in which the output per hour stabilizes is known as constant stage. Once constant stage is achieved and long time has been passed there exists a possibility that the productivity may start to decline because the excitement, challenges of learning a new production are
Ownership and control of production ; vertically integrated manufacturing operation to enable its constant introducing of new items and also ensure short lead time
...ly increase if the used factors are also being used at an increasing rate. No matter how efficient the factors of production are being used it is required to use more of them in order to significantly receive a higher output. There is also a limitation to this rule, that being that the two factors of production are used at a very similar level of involvement. If one factor of production is greatly in excess compared to the other then the excess will first be used until it is at a similar level to the factor production of which there is less. Once there are even amounts then the initial rule applies again, and an increase in both is required for significant increase in output. In order to truly be efficient with this model only if both of the factors are used at similar levels and there is no excess of one, meaning none is wasted and the optimal output can be reached.
There has been a large amount of attention paid to the subject of entrepreneurship in the last few years; mainly because most people have chosen to go from working for somebody else, to be their own bosses and work for their dreams. Nevertheless, many still wonder what is entrepreneurship and what is that sets entrepreneurs apart from other regular business owners. At first, it seems both concepts do not differ much from each other since they both start up and run businesses and assume risks to pursue opportunities; however, there are certain traits that difference them.
In today’s competitive business world, ‘customer requirements or customer need’ is the main focus area for any organization. Customer is like a family member of a firm or organization. Industries are trying to capture customer’s view about quality regarding the products or services which they are going to provide. The user or buyer wants high quality products in optimum cost and quick response to changing environment from the firm. This will totally depends on overall effective performance of an organization. This paper gives an idea about Quick Response Manufacturing (QRM) for increase in productivity in order to gain maximum profit and sustainable environment in competitive business world.
a. Scientific laws govern how much a worker can produce in a day. b. It is the
Land is the place used to produce the goods. Not only the physical land, but also resources such as oil, air, and water. “Labor refers not only to the number of people in the workforce, but the quality of the workers in the workforce (Mandura 115)”. Capital, the third factor of production, refers to the goods used in further production. And finally, entrepreneurship is defined as the assembling of resources to produce new products.
When the price of raw material will go up or down, the production coats will rise or fall. Secondly, the price of substitute products also affect the supply curve. Because the relatived products are competitive relationship, when the price of one product goes up, another will goes down. It will affect suppy. Thirdly, production technology will affect the supply curve. When the level of technology is rising or falling , the production costs will go down or up. finally, the government policies will affect the supply curve. Positive policies will make the supply go up, conversely, it will go down. For example, the govenrment limit the amount of cars which people can buy, it will caused the supply curve down. In addition, the price of product in the future and the development of product company will also affect the supply
Entrepreneurship - a special kind of activity. Its constant conditions are limited resources, competition and uncertainty of the situation. The main tools of the entrepreneur are: thrift, cooperation and innovation. Consequently, enterprise is the independent economic entity, with rights of a legal entity, which is based on the use of labor collective property produces and sells products, works, and provides services.
The first definition on entrepreneur was simply someone who invented something. Eventually, it turned into someone who owned a business. But the best definition, the one used most often today, is someone who organizes, manages, and assumes the risks for a business or enterprise. This shows that not only does a person "invent" something, but that they see the opportunity and build a business around it. An entrepreneur has a vision and builds around this vision.
An entrepreneur is someone with the capacity to lead a business to success and is willing to take the risks in order to accomplish their goals. (Dollonger, 2002). Starting a new business is an example of entrepreneurship. Entrepreneurs are very important in order for any business to succeed, however, only some entrepreneurs will succeed in life. Here are some of the characteristics of successful entrepreneurs.
Quality is a word which has been used for a very long time, lots of books have been written about it, and many of the world scientists have defined it in many different ways. In this research paper, I will emphasis on the Quality Management System, why is it important? What is it used for? What is the importance of having a Quality Management System? Many people think implementing QMS costs a lot and all the benefit is a piece of a paper which say that your company is certified in having QMS so you can only hang this picture or certificate on the wall and tell your smart customer that you have it. In fact, no blames on them, they have not used this system yet, they do not know that this system save a lot and a lot of money for companies. They do not know that this system create a dynamic motion within the companies so everyone know what he/she is doing, everybody understands his/her role, and everyone can feel being an important part of the process then everybody can work towards a clear and unified target. However, having a lot of benefits requires a reasonable cost and in the same time it worth. There are several organization which are concerned and involved in this issue, those organizations have produced a unified standards and those standards have its requirements. The International Standardization Organization which located in Switzerland which have a contribution of 157 countries have produced a standard which is concerned about the QMS.
The functions of production management depend upon the size of the firm. In small firms the production manager might enclose to appear after production planning and control along with personnel, marketing, and finance and purchase functions. In medium sized firms, there could be divide managers for personnel, marketing and finance functions. But the production planning and control and purchase and stores perhaps under the control of production management department. In large sized firms the performance of production management is restricted to the management of production activities only. As such, there are no durable and fast rules or strategy to identify the function of production management, but in the academic attention we can declare some of the functions, which are looked after by the production management.