Types of production system: The types of production system are grouped into two categories, namely: 1. Intermittent production system 2. Continuous production system 1. Intermittent production system: Intermittent means something that starts and stops at irregular intervals (time intervals). In the intermittent production system, goods are produced according to customer Read more…
The production system is part of a larger organization – the business entity. The production system can be viewed as a structure or skeleton of value-creating activities. In short, the difference between the value of the inputs and the value of the outputs represents the value generated by the production Read more…
The main purpose of production and operations management is to effectively manage and utilize the resources of the company which is essential for the production of goods and services. Production management refers to managing the activities related to the production of goods. On the other hand, operations management is one Read more…
Importance of operation management in an organization: Operational management is the planning, organizing, managing, controlling and overseeing of production and production processes. The main objective of the operations manager is to ensure the timely delivery of the goods and to turn the raw materials into successful finished goods. Operational management Read more…
Functions of Operations Manager: Some of the key functions of the Operations Manager are: Finance: Finance is an important component of operational management. It is important to ensure that all funds are utilized to their fullest extent and are carried out regularly to ensure the optimum creation of goods and Read more…
The Concept of Operational Management: Operational management is a function of converting inputs into outputs, thereby adding value to some companies. The right quality, the right size, the right time and the right price are the four basic requirements of customers and they determine the level of customer satisfaction. If Read more…
Qualities of a Product Manager: The following qualities must-have in a product manager to be called a smart production manager. Let’s have a look in the following qualities: Communication Skills: “Communication is the language of leadership” Therefore, strong communication skills are important. The production manager must communicate with the team, Read more…
Importance of production management: Importance of Product Management for Business Entity: Fulfilling company objectives: Production management helps the business to achieve all its objectives. It produces products that meet the needs and wants of customers. Therefore, the company will increase its sales. This will help it achieve its objectives. Reputation, Read more…
Concept of Production Management: The concept of production management refers to the application of management and principles to the production process in a factory. In simple words, production management involves planning, organizing and controlling the production process. The set of interrelated management activities involved in producing certain products is called Read more…