Production Planning and Control
Production planning and control is a tool available to the management to achieve the stated objectives. Thus, a production system is encompassed by the four factors. i.e., quantity, quality, cost and time. Production planning starts with the analysis of the given data, i.e., demand for products, delivery schedule etc., and on the basis of the information available, a scheme of utilisation of firms resources like machines, materials and men are worked out to obtain the target in the most economical way.
Once the plan is prepared, then execution of plan is performed in line with the details given in the plan. Production control comes into action if there is any deviation between the actual and planned. The corrective action is taken so as to achieve the targets set as per plan by using control techniques. Thus production planning and control can be defined as the “direction and coordination of firms’ resources towards attaining the prefixed goals.” Production planning and control helps to achieve uninterrupted flow of materials through production line by making available the materials at right time and required quantity.
Download Ebook The Fundamentals Of Production Planning And Control
