Archive | Production Management

Product Diversification: Objectives and Forms | Product Mix | Production

In this article we will discuss about:- 1. Meaning of Product Diversification 2. Objectives of Product Diversification 3. Forms 4. Factors Motivating It . Meaning of Product Diversification: The term ‘product diversifi­cation’ is sometimes called ‘product differentiation’. Product diversifica­tion is a part of product line decisions’. The word diversification means that something new will be […]

Equation for Production Function | Industries | Production Management

After reading this article you will learn about the equation for production function. Production function is concerned with the creation of a product. It establishes the relationship between the quantity of output furnished or given out by a productive process and the quantities of different inputs used in that process. Algebraically a production function can […]

Increasing the Productivity of Resources | Industries

This article throws light upon the four main considerations to be kept in mind for increasing the productivity of resources. The considerations are: 1. Material 2. Labour 3. Plant, Equipment and Machinery 4. Land and Buildings. Consideration # 1. Material: Industries in which the cost of raw material is a big percentage of the cost […]

Production System: Concept and Models | Industries | Production Management

After reading this article you will learn about the concepts and input output model of production system. Concept of Production System: The production system is a part of a larger system – the business firm. The production system can be viewed as a framework or skeleton of activities within which the creation of value can […]

Classification of Products: 4 Types

Products may be classified as:- 1. Convenience Goods 2. Shopping Goods 3. Specialty Goods 4. Industrial Goods. Type # 1. Convenience Goods: Convenience goods such as cigarettes, candy bars, blades, magazines etc. All these items are found clustered around the checkout stand of food stores, and food, of course, is usually a convenience good. Convenience […]

Product Planning: Definition, Need and Constituents

After reading this article you will learn about:- 1. Definition and Concept of Product Planning 2. Need For Product Planning 3. Constituents. Definition and Concept of Product Planning: Product planning may be defined as ― Evaluation of the range, mix, specification and pricing of existing and new products in relation to present and future market […]

Process and Machine Capabilities | Production Management

After reading this article you will learn about the process and machine capabilities. Process Capabilities: A process capability study is a determination of the total spread of the process as determined by measuring the product produced under controlled conditions. The process capability is independent of the specification but is determined by: (i) The condition of […]

Classification of Sampling Plans | Industries

Sampling plans may be classified as follows: 1. Single Sampling Plans 2. Double Sampling Plans 3. Multiple Sampling Plans 4. Sequential Sampling Plan (Item by Item Analysis).   1. Single Sampling Plans: A lot is accepted or rejected on the basis of a single sample drawn from that lot. i. Under this plan, a lot […]

Product Development: Meaning, Procedure and Principles

After reading this article you will learn about:- 1. Meaning of Product Development 2. Procedure for Product Development 3. Principles. Meaning of Product Development: A product is an article obtained by the transformation of raw material and is marketed/sold by the manufacturer, i.e., a product is a salable item. It may be a consumer product […]

3 Main Types of Process Planning | Production

This article throws light upon the three main types of process planning. The types are: 1. Manual Process Planning 2. Automated Process Planning 3. Generative Process Planning. Type # 1. Manual Process Planning: This type of planning is known as man-variant process planning and is the commonest type of planning used for production today. Planning […]