It is concerned with services 2. It helps in Achieving Group Goals - It arranges the factors of production, assembles and organizes the resources, integrates the resources in effective manner to achieve goals. ME3105 Production Management 3 | P a g e It is concerned with the production of goods and services, and involves the responsibility of ensuring that business operations are efficient and effective. Clipping is a handy way to collect important slides you want to go back to later. It conducts analysis and development. So, the firm will increase its sales. Most effective utilisation of resources. Therefore, Production Management can be defined as the management of the conversion process, 3. PRODUCTION AND OPERATION MANAGEMENT(3-0-0) 1. Recognize the importance of operations strategy. Helps to Introduce New Products: Production management helps to introduce new product within the market. Appreciate operations from a systems perspective. ... between strategic, tactical and operations planning. Now customize the name of a clipboard to store your clips. Encourages quality consciousness 2. Simply, production management is a process of planning, organizing, directing and controlling the activities of the production function. It’s concerned with manufacturing 1. It is also the management of resources, the distribution of goods and services to customers. Learn more. Production comes under the category of line function which directly affects customer experience and there by future of organization itself. Production Management Operation Management 1. Looks like you’ve clipped this slide to already. Out put is tangible 2. Reputation, Goodwill and Image: Production management … Functions of Production Management. We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. What is Operations Management? Reduction in production cost 4. Importance of Management. Production management make sure the quality of goods or services. This helps the firm to develop newer and higher quality product. There are many importance of production management given below-, Helps to Introduce New Products: Production management helps to introduce new product within the market. What is Production Management in Business? Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. See our Privacy Policy and User Agreement for details. Below is the importance of production management. Business Management, A good content with useful information. Importance of Production Management. It directs group efforts towards achievement of pre-determined goals. You can change your ad preferences anytime. … This helps the firm to develop newer and higher quality product. By defining objective of organization clearly there would be no wastage of time, money and effort. Importance Of Production Management to the business firm. 3. If you continue browsing the site, you agree to the use of cookies on this website. Management Management refers to the tasks and activities involved in directing an organization or one of its units: planning, organizing, leading, and controlling. Production & Operation Strategy.ppt - Free download as Powerpoint Presentation (.ppt), PDF File (.pdf), Text File (.txt) or view presentation slides online. Importance of Production Management. It conducts analysis and development. Notify me of follow-up comments by email. See our User Agreement and Privacy Policy. Used efficiently, it can lead to numerous accomplishments which will take the business to a great height. Thanks. It produces products, which satisfy the customers' needs and wants. Production management creates plant layout that refers to the physical arrangement of facilities. By defining objective of organization clearly there would be no wastage of time, money and effort. Importance of Production Function and Production Management. Copyright © 2019 The Bizmanagement Guide WordPress Theme : By Offshorethemes, Importance of Production Management in Business, Decision Support Systems in Management Business, Objectives of Production Management | Importance of Production Management. 14. 1. 2. An efficient production management ensures the following advantages (i) Production of good quality products at a reasonable cost of production, (it) Maintains optimum inventory level (iii) Betters and improves productivity of all inputs, (iv) provides uninterrupted supply of goods and services 1. If you continue browsing the site, you agree to the use of cookies on this website. It directs group efforts towards achievement of pre-determined goals. Production management has a set of certain principles like economies, facility design, job design, schedule design, quality control, inventory control, work-study and cost, and budgetary control.

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