Objectives of Production Management
Objectives are the foundation of production management without which the production cannot get completed. 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.
Definition
“The set of interrelated management activities, which are involved in manufacturing certain products, is called Production Management.
“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.”
1. Right Quality
The quality of the product is a very important parameter for every organization without quality the product cannot establish itself in the competitive market. Today’s market is a buyer’s market so one has to be very conscious about the quality aspect.
2. Right Quantity
The manufacturing organization should always be in the position to produce the product in the right number to the required quantity to satisfy the customer’s needs
3) Right Time
The time factor is very important in business timeliness of delivery is an important parameter as it judges the effectiveness of the production department.
4) Right Manufacturing Cost
Manufacturing cost is established before the product is actually manufactured because it can be a major distinguishing feature of the product.
A production is an intentional act of producing something in an organized manner. It is the fabrication of a physical object through the use of men, material, and some function that has some utility e.g. repair of an automobile, legal advice to a client, banks, hotels, transport companies, etc. The main inputs are information, management, material, land, labor, and capital.