Capital Budgeting

Quest- 1 What is Production Management and its objectives? Explain Scope and function of Production Management?

Ans:- Production is basically defend as conversion of Inputs into output through transformation process . Input include 5m,s i.e. man , machinery , money , material methods &output is final goods.

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Examples:-

Production Management

It is process in which performance of management activities are done with regards to selecting designing operating controlling and finally updating production system.
Production as Heant of Organization:- As every department as its own importance, but till the time production departments at produce products how these can be marked for what purpose the funds and man power may be needed and there would be no need of material management without the existence of production

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Production Management Functions:-

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1 PLANNING:-

Planning involve all the activities that establish a future course of action. These action guides for decision making it involves.

Production Planning Facilities Planning Designing Conversion Process

In Fact Planning phase is divided in to two sub parts

PLAANNING

Pre- Planning Actual- Planning
(i) Product Planning ( i ) Material Planning (ii) Process Design (ii) Methods Planning
(iii) Sales forecasting