It is included as one of the factors of production. Production It is the act of creating output, a good or service which has value and contributes to the utility of individuals. Production Management It deals with converting the raw materials Into finished goods.
It brings together the m's I. E. Men, money, machines, materials, methods and markets to satisfy the wants of the people.According to Elwood Spencer Buff, 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. Process Sequence of interdependent and linked procedures which, at every stage, consume one or more resources (employee, money, time, energy, machines) to convert Inputs (data, material, parts, etc.
) Into outputs. These outputs then serve as inputs for the next stage until a known goal or end result Is achieved.Production Process Mechanical or chemical steps used to create an object, usually repeated to create machinery and manpower to create a product. It is concerned with transforming a range of inputs into those outputs that are required by the market. System A set of interacting or interdependent components forming an integrated whole or set of elements, often called as component, and relationships which are different from relationships of the set or its elements to other elements or sets.
Production System It is a manufacturing subsystem that includes all functions required to design, produce, distribute, and service a manufactured product. II. Difference between the following: a. Products and Service There are many differences between the two some of these are the following: first, a service is an intangible process that cannot be weighed or measured, whereas a product is a tangible output of a process that has physical dimension. Next, a service requires some interaction with the customer for it to be a service.
The interaction may be brief, but it must exist for the service to be complete. Goods, on the other hand, are generally produced in a facility separate from the customer. B. Manufacturing of Products ; Rendering of Service The difference of the two is that manufacturing of products involves raw materials and the labor of the employees while rendering of services involves Just the labor of the person. Another is skills and talents are more appreciated in rendering of services than in manufacturing of products. C.
Quality Base ; Time Base Strategies A quality base strategy focuses on quality in all phase of the organization while a time base strategy focuses on the reduction of time needed to accomplish task.
