Archive | Production Management

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 be written as: y = [...]

By |2017-02-06T21:14:06+05:30February 6, 2017|Production Management|Comments Off on Equation for Production Function | Industries | Production Management

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 of finished goods, higher productivity [...]

By |2017-02-06T21:14:06+05:30February 6, 2017|Production Management|Comments Off on Increasing the Productivity of Resources | Industries

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 goods are placed so that [...]

By |2017-02-06T21:14:03+05:30February 6, 2017|Production Management|Comments Off on Classification of Products: 4 Types
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