Production operation management meaning, objectives
What is production operation management? Production Operations Management is defined as the process which transforms the inputs/resources of an organization into final goods (or services) through a set of defined, controlled and repeatable policies. Objectives of ProductionOperations Management: (i) Maximum customer satisfaction through quality, reliability, cost and delivery time. (ii) Minimum scrap/rework resulting in better product quality. (iii) Minimum possible inventory levels (i.e.,optimum inventory levels). (iv Maximum utilisation of all kinds of resources needed. (v) Minimum cash outflow. (vi) Maximum employee satisfaction. (vii) Maximum possible production (i.e., outputs). (viii) Higher operating efficiency. (ix)Minimum production cycle time. (x) Maximum possible profit or return on investment. (xi) Concern for protection of environment. (xii) Maximum possible productivity. Definition of Production Management When the principles of management are ...