Podcast
Questions and Answers
[Blank] is the worker or human workforce involved in the manufacturing process of a business.
[Blank] is the worker or human workforce involved in the manufacturing process of a business.
Manpower
The total number of individuals who are employed in a company or available for a particular project assignment or work is called ______.
The total number of individuals who are employed in a company or available for a particular project assignment or work is called ______.
manpower
Without appropriate ______, a factory's raw materials, inventory, and finished goods will not move along the value chain.
Without appropriate ______, a factory's raw materials, inventory, and finished goods will not move along the value chain.
manpower
An entrepreneur must consider educational qualifications, experience, employment status, and ______ when hiring a workforce.
An entrepreneur must consider educational qualifications, experience, employment status, and ______ when hiring a workforce.
Good manpower allows companies to keep the ______ and ______ promises they make resulting in potentially maintain client relationships
Good manpower allows companies to keep the ______ and ______ promises they make resulting in potentially maintain client relationships
[Blank] refers to the system and step-by-step process in a business, converting raw materials to finished products.
[Blank] refers to the system and step-by-step process in a business, converting raw materials to finished products.
Without a scalable ______, it would be difficult to expand a business, as methods must be documented and replicated.
Without a scalable ______, it would be difficult to expand a business, as methods must be documented and replicated.
The method of production depends on the product, mode of production, manufacturing equipment, and required ______.
The method of production depends on the product, mode of production, manufacturing equipment, and required ______.
[Blank] are crucial in business operations, enabling efficient and fast task performance in the production of goods or delivery of services.
[Blank] are crucial in business operations, enabling efficient and fast task performance in the production of goods or delivery of services.
When selecting equipment, one should consider the types of products, system to be adopted, cost, capacity and ______ of the equipment.
When selecting equipment, one should consider the types of products, system to be adopted, cost, capacity and ______ of the equipment.
[Blank] refers to the raw materials needed in production; sourcing them at the cheapest price with the highest quality is critical.
[Blank] refers to the raw materials needed in production; sourcing them at the cheapest price with the highest quality is critical.
When selecting raw materials, an entrepreneur should consider cost, quality, availability, and ______ of suppliers.
When selecting raw materials, an entrepreneur should consider cost, quality, availability, and ______ of suppliers.
[Blank] refers to the activities, decisions, and responsibilities of managing resources dedicated to the production and delivery of products and services.
[Blank] refers to the activities, decisions, and responsibilities of managing resources dedicated to the production and delivery of products and services.
Properly managed production can increase sales, meet objectives, enhance firm reputation, and enable the development of newer and better quality ______.
Properly managed production can increase sales, meet objectives, enhance firm reputation, and enable the development of newer and better quality ______.
When production is properly managed, a firm can produce products of right quantity, right quality, at the appropriate price, at the right time. The firm will in turn have more efficiency and higher ______
When production is properly managed, a firm can produce products of right quantity, right quality, at the appropriate price, at the right time. The firm will in turn have more efficiency and higher ______
Flashcards
Manpower
Manpower
The worker or human workforce involved in the manufacturing process of a business.
Manpower (Definition)
Manpower (Definition)
The total number of individuals employed by a company or available for a particular project or work.
Hiring Considerations
Hiring Considerations
Educational qualifications and experience, employment status, number of employees needed, required skills, worker availability, and salary requirements.
Method
Method
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Machines
Machines
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Raw Material Factors
Raw Material Factors
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Operations Management
Operations Management
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Benefits of Good Operations Management
Benefits of Good Operations Management
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Materials
Materials
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What are the four M's of production?
What are the four M's of production?
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Study Notes
- Manpower is the worker or human workforce involved in the manufacturing process of business.
- People operate factories and service establishments.
- Even factories with the most advanced and automated machines still require skilled people to operate and maintain them.
- Hiring the right people is the first step to good operations management.
- Manpower is the total number of individuals employed by a company or available for a particular project or work.
- An organizations manpower needs are estimated and planned by available metrics.
- The 4M's of production are Materials, Manpower, Method, and Machine which contribute to the Input and Process in order to deliver an Output and create a final product.
Importance of Manpower
- Manpower is one of the most critical assets in an organization.
- Without appropriate manpower, the work cannot happen.
- Raw materials, inventory, and finished goods will not move in the value chain without manpower.
- All these mission critical operations require skilled manpower.
Hiring Criteria
- Entrepreneurs must consider these criteria when hiring workforce:
- Educational qualifications and experience
- Status of employment (permanent or contractual)
- Number of employees/staffs needed
- Required skills and expertise
- Availability of potential workers in the community
- Salary requirements and other mandatory benefits
- Good manpower allows companies to keep the production and delivery promises they make.
- This can lead to additional sales and maintain client relationships.
Method
- Method refers to the system and step by step process in the business.
- Method can be considered the process or technique of converting raw materials to finished products.
- Operations, runs the factory or service shop that converts the input into output.
- Wrong methods can jeopardize operations because it may not be able to attain the results.
- Without a scalable process, it would be difficult to expand the business.
- The methods used in the main branch must be documented and replicated in other branches.
- Improvements should be found if things are difficult to implement at another site.
Method Selection Factors
- Product to produce
- Mode of production.
- Manufacturing equipment to use.
- Required skills to do the work.
Machines
- Machines are also important in the operations of the business.
- Refers to the manufacturing equipment used in the production of goods or delivery of services.
- Without proper equipment, business will not be able to perform the needed tasks efficiently and fast.
Selecting Equipment
- Types of products to be produced
- Production system to be adopted
- Cost of the equipment
- Capacity of the equipment
- Availability of spare parts in the local market
- Efficiency and durability of the equipment
- Skills require in operating the equipment
Materials
- Materials refers to the raw materials needed in the production or manufacturing of a product.
- Sourcing of raw materials is critical in any business.
- Entrepreneurs want to acquire the cheapest possible price at a highest quality.
Raw Materials Selection Factors
- Cost
- Quality
- Availability
- Credibility of suppliers
- Waste that the raw materials may produce
Operations Management
- Operations Management refers to the activities, decisions and responsibilities of managing the resources, which are dedicated to the production and delivery of products and services.
- Operations management can contribute to the success of business by using available resources to effectively produce products and services in a way that satisfies the customers.
- When production is properly managed businesses therefore may increase its sales, can meet the objectives, increases the firm's reputation, goodwill and image, the firm can develop and offer newer and better quality products.
- Marketing can find an easier means to sell products and services, finance can get more funds due to increased sales and human resources can effectively manage the workforce due to better performance of the production management.
- The firm can produce products of right quantity, right quality, appropriate price and at the right time, the firm can achieve cost efficiency objectives, and can earn higher profits.
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