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B U S I N E S S R E C O R D M A N A G E M E N T
P R O D U C T I O N M A N A G E M E N T
M A N A G E M E N T I N A C T I O N
PRODUCTION
Production management deals with The importance of production
converting raw materials into finished management to the business firm
goods or products. It brings together the to accomplishment of firm's
6M's i.e. men, money, machines, objective
materials, methods and markets to
satisfy the wants of the people. The main Production management helps the
objective of production management is business firm to achieve all its
to produce goods and services of the objectives. It produces product
right quality, right quantity, at the right which satisfy the customers' needs
tme and at minimum cost. It also tries to and wants. So, the firm will
improve the efficiency. An efficient increase its sales. This will help it
organisation can face competition to achieve its objectives.
effectively. Production management Reputation, goodwill and Image:
ensures full or optimum utilisation of Production management helps the
available production capacity. firm to satisfy its customers. This
increases the firm reputation,
goodwill and image. A good image
helps the firm to expand and grow.
Helps to introduce new products
Production management helps to
introduce new products in the
market. It conducts Research and
development (R&D). This helps the
firm to develop newer and better-
quality products. These products
are successful in the market
because they give full satisfaction
to the customers. Supports other
functional areas in an
organisation, such as marketing,
finance, and personnel.
