Production and Operations Management

Topics: Forecasting, Variable cost, Costs, Total cost, Fixed cost / Pages: 12 (2866 words) / Published: Dec 16th, 2012
Chapter 01 : INTRODUCTION TO P & O MGMT

Concept of Production
Production : * A crucial function in any organisation * Transformation of a range of inputs into the planned outputs ( goods or services ) meeting laid down quality standards * Step-by-step conversion of one form of material into another form through chemical or mechanical process to enhance the utility of the product to the end users. * Value addition process at each stage * A process by which “goods and services are created” ………Edwood Buffa * Some examples: Chilly powder, Furniture, edible oils, Petrol

Concept of Operation
Operation : * Categorised into * Manufacturing operations and Service operations * Manufacturing operations is a * Conversion process that includes mfg yields and * produce a tangible output called product * Service operations is a * Conversion process that includes service yields and * produce an intangible output like performance, an effort etc

Manufacturing v/s Service Operations

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ACTIVITIES OF PRODUCTION FUNCTION * The Activities of Production Function 1. Planning 2. Organising 3. Directing 4. Controlling 5. Training & Dev 6. Coordinating 7. Motivation 8. Cont. improvement * Combines and transforms various resources into value added products as per policies of the Organisation * E.S. Buffa : Deals with decision making process so that resulting goods or services are * produced according to specifications ( Quality ) * in the quantity and by the schedule demanded * out of minimum cost

OBJECTIVES OF PRODUCTION MANAGEMENT * To produce right goods or services of / at right * QUALITY * QUANTITY * TIME * COST * Without compromising on * SAFETY * STATUTORY RULES & REGULATIONS * By effectively utilising the * The loop : MONITORING / FEEDBACK / ACTION

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