Production process

                                      Production process   Production process Introduction to production process We had already understood the importance of productions planning and control, selection of plant location.  Now we are going to learn about how production process takes place? What are the entities involves in? What are the methods of production process? Production Process It is the process followed in a plant for converting semi- finished products or raw materials into finished products. The…

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Production Planning & Control

Production Planning & Control Production Planning & Control Introduction to Production Planning Production planning and control is a tool available to the management to achieve the stated objectives. Production planning involves management decisions on the resources that the firm will require for its manufacturing operations and the selection of these resources to produce the desired goods at the appropriate time and at the least possible cost. Production Planning– Definition In the words of Kimball and Kimball, Production Planning is stated as:  “The planning of industrial operations involves four considerations, namely,…

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Product planning & Market research

Product planning & Market research Product planning & Market research Introduction to Product Planning Product Planning is the on-going process of identifying and articulating market requirements that define a product’s feature set. Product planning serves as the basis for decisions about price, distribution and promotion. Product planning analyses the product features like what the product should be? The target users of the product, expected demand, competition etc. Product planning and development process Every product starts as an idea. But all new product aides do not equal merit or potential for…

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Plant Location

                               Plant Location Plant Location Introduction to Plant location Plant location refers to the choice of region and the selection of a particular site for setting up a business or factory. But the choice is made only after considering cost and benefits of different alternative sites. It is a strategic decision that cannot be changed once taken. The place of the plant should offer the lowest cost when the cost of production and delivering the goods…

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Operation Research & LSCM in decision making

Operation Research & LSCM in decision making Operation Research & LSCM in decision making Introduction to operation research Operations Research is the application of analytical methods designed to help the decision makers choose between various courses of action available to accomplish specified objectives. Definition of operation research Operations means the activities carried out in an organization. Research means the process of observation and testing characterized by the scientific method.  Situation, problem statement, model construction, validation, experimentation, candidate solutions. Operations Research Operations Research is a quantitative approach to decision making based…

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Make or Buy decisions

                       Make or Buy decisions Make or buy decision Make or buy decision is the determination of the procurement program in which whether feedstock for production should be made by a company itself or acquired from a third party. In recent years, a trend has been observed in some sectors toward reducing the depth of production in companies in favour of increased external procurement. Mostly a company tries to insource or outsource the decision of making or buying. Insourcing means…

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Logistics

                                                   Logistics Logistics  In a general sense, logistics is the process of movement of goods from one place to another. More specifically, the concept is used to describe the part of supply chain management which undertakes the movement function. The goods movement can be in reverse and forward direction. “Logistics management is that part of supply chain management that plans, implements, and controls the efficient, effective forward…

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Logistics costing

                                      Logistics costing Logistics costing Introduction to Logistics costing Logistics cost is the factors associated with the acquisition, storage, movement, and disposition of goods. In a competitive market the firms require the detailed costing information to take the future decisions and to expand the customer services. The complexity of the cost will depend on the diversity of the products handled, customer requirements or the supply channels used. Importance of logistics costing Logistics…

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