Capital Budgeting

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  • Topic: ISO 9000, Manufacturing, Quality assurance
  • Pages : 40 (6894 words )
  • Download(s) : 132
  • Published : December 31, 2012
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Quest- 1 What is Production Management and its objectives? Explain Scope and function of Production Management?

Ans:- Production is basically defend as conversion of Inputs into output through transformation process . Input include 5m,s i.e. man , machinery , money , material methods &output is final goods.

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Examples:-

Production Management

It is process in which performance of management activities are done with regards to selecting designing operating controlling and finally updating production system. Production as Heant of Organization:-

As every department as its own importance, but till the time production departments at produce products how these can be marked for what purpose the funds and man power may be needed and there would be no need of material management without the existence of production

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Production Management Functions:-

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1 PLANNING:-

Planning involve all the activities that establish a future course of action. These action guides for decision making it involves.

Production Planning Facilities Planning Designing Conversion Process

In Fact Planning phase is divided in to two sub parts

PLAANNING

Pre- Planning Actual- Planning (i) Product Planning ( i ) Material Planning (ii) Process Design (ii) Methods Planning (iii) Sales forecasting (iii) Manpower Planning (iv) Plant Location (iv) Money (Fund) (v) Plants Layout

(vi)Equipment Decision

1. ORGANISING:-

Organizing involve activities that establishes of tasks for (organization structure are) and authority. It establishes structure of roles and flow of information with in production System. Determination activities required to achieve Production on rule system goods

Assigning authority and responsibility for cawing them out

3. CONTROLLING:-

It involves all the activities that assure that actual performance is in adivadance with the planned performance. This is done by developing standard initially Measuring actual performance Finally comparing standard initially

Activities involved in controlling
Routing
Estimation
Scheduling
Dispatching
Inspection
Evaluating

OBJECTIVES OF PRODUCTION MANAGEMENT

To produce quality goods & services
Increase profitability through higher efficiency production by improving quality. To give customer more confidence by providing quality products at right price & at right time Optimal use of resources

Maximizing use of manpower, Material, Machinery by minimizing Wastage of material Ensuring quality at minimum cost

Outstanding Quality Customer...
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