L 03 industrial management
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Transcript of L 03 industrial management
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Industrial Management
Lecture - 3
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Production
• It is a process of creating or enhancing utility by transforming a set of inputs such as men machinery, material & money into a specific set of output such as finished goods or services
• It is a process by which goods & services are created
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Inputs:
•Men•Machinery•Material•Money
Transformation Process:
•Product Design•Process Planning•Production Control•Maintenance
Outputs:
•Products•Services
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• It may be defined as the ratio between output & input
• Output means the amount or numbers of items produces & inputs are the various resources employed such as men machinery, material & money
• It is the measure of the quantity of output per unit of input
Productivity = Amount of Output/Amount of Input
Productivity
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Productivity IndexLabor productivity =
OutputNo of Labour employed
Direct labor cost productivity =Output
Amount of wages paid
Capital productivity = Output
Capital Employed
Energy productivity =Output
No. of Units of power used
Raw material productivity =Output
Cost of raw materials
Direct cost productivity =Output
Sum of all direct costs
Material productivity =OutputCost of
(Raw Material+ Packaging material+ Supplies)
Total Factor Productivity =Output
Labour+ Capital Invested
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Factors affecting Productivity
Factors affecting national productivity1. Human resources2. Technology and Capital Investment3. Government Regulation
Factors Affecting Productivity in organization:-1. Product( or system ) design2. Machinery and Equipment3. Skill and Effectiveness of the worker4. Production Volume
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Measures to Increase Productivity
• Material• Labor• Plant, Equipment and Machinery• Land and Buildings
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Types of Production Methods / Systems
1. Continuous• Mass production• Process or continue flow type
2. One time Large Projects
3. Intermittent• Batch production• Job Production