p.o.m.doc - INDIAN INSTITUTE OF MODERN MANAGEMENT(IIMM Registration No IIMM\/DH\/1\/2007\/5516 Course PM HRD ASSIGNMENT-PRODUCTION OPERATION MANAGEMENT(POM

p.o.m.doc - INDIAN INSTITUTE OF MODERN MANAGEMENT(IIMM...

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INDIAN INSTITUTE OF MODERN MANAGEMENT (IIMM) Registration No. : IIMM/DH/1/2007/5516 Course : PM & HRD ASSIGNMENT :- PRODUCTION & OPERATION MANAGEMENT (POM) Answer 1. (a) Objectives of POM With a view to producting goods and services of right quality in right quantity at right time and at minimum cost, the Production and Operation Managers may have one or more of the following objectives for framing their managing strategy and policies:- a. Efficiency to maximize the output for given input. b. Productivity to maximize the production in relation to specified resources whether computed singly or in combination of such resources. For example, Labour Productivity may be maximized either by increasing production with the same labour or maintaining the same level of production with reduced labour. c. Cost Reduction to reduce the cost of production which is directly related to the competitive strength of the company in market. d. Quality to be a distinctive feature of a product for its uniqueness or general purpose utilisation with added reliability. e. Quality to be a distinctive feature of a product for its uniqueness or general purpose utilisation with added reliability. f. Reduction in Processing Time to reduce the throughput time for processing or the lead time between placement of order by a customer and actual delivery of goods or services. Elements of Production and Operations Management The business of conversion process may be divided into three prominent phases namely planning, organizing and controlling. These phases are not compartmentalised but are overlapping onto each other. Each of these phases involves several actions which are depicted in the model at Fig.1.1 and discussed in varying detail in subsequent chapters. The managerial activities in any business unit are commonly termed as planning, organizing, staffing, decision making, motivating, leading, directing, coordinating, communicating, controlling and so on. Several authors and management thinkers have grouped these activities is different ways and produced different set of lists. Harold Koontz and team detailed these as planning, organizing, staffing, leading and controlling. Some argued that organizing and staffing cold be just one function. Others feel directing is more appropriate a term than leading in business situations and the former should include the latter. Another school thinks coordinating and communicating should be considered as different functions. Indeed these groupings may be varied according the predominance of activities in different types of organizations. 1
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Fig.1.1. Elements of Production and Operations Management (POM) In order to simplify the managerial functions in POM, the chapters of this compilation have been organized according to the model at Fig 1.1. This figure is a basic Input/Output model superimposed with the concepts of Operational Management Theory. Inputs like land, labour, capital, raw material, technology and management are fed into the system. Conversion of these inputs is undertaken to produce desired goods and services which are the outputs. There are input
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