1. PRODUCTION Presented By A. Wadut Al Mamun

2. Tangible Intangible PRODUCT

3. ELEMENTS OF PRODUCTION (1) Land (including all natural resources) (2) Labor (including all human resources) (3) Capital (including all man-made resources) (4) Enterprise (which brings all the previous resources together for production).

4. MARKET ENVIRONMENT MICRO ENVIRONMENT Major internal factors in an organisation that affect its performance is known as micro-environment. Example: Competitor, customer, supplier and general public. MACRO ENVIRONMENT Major external factors in an organisation that affect its performance is known as macro-environment. Example: Political, economical, demographic and social conditions.

5. 1.PRACTICES A standard set of process or rule or procedure or method used in a particular field or profession 2. SYSTEMATIC Any process marked by methodical plan or procedure and repeatability 3.PROCESS A sequence of procedure that consumes resources to convert input into out put. These O/P serve as I/P for the next stage until required goal is achieved

6. PROCEDURE A fixed step by step action is known as procedure

7. 1. STAGE A subsection of a project that are performed together and scheduled output is expected. 2.RESOURCE A economic or productive factor that requires to accomplish an activity. 3.OUTPUT An amount of work, energy or goods, produced by a machine or man or company in a given time

8. INVESTMENT FIXED INCOME BONDS FIXED DEPOSITS PREFERENCE SHARES VARIABLE INCOME OWNERS EQUITY PROPERTY OWNERSHIP

9. GOAL An observable and measurable end result having one or more objectives to be achieved within a more or less fixed timeframe. END RESULT A final outcome of a process. The end result of an investment basically amo unts to how much money was made or lost as a direct result of deciding on that particular course of action.

10. SERVICES Services are mostly intangible. Eg: consultancy, education, insurance, expertise, medical treatment, or transportation COMPETITOR Any person or entity which is a rival against another Competition also requires companies to become more efficient in order to reduce costs

11. SIMPLE PRODUCTION CHART

12. Production System Mass Production approach by Ford Automobile Makes Outputs available in Large Quantities at Lower Unit Costs than Individually- Crafted Items Lean Production system by Toyota Automobile Make output with a continuous and zero defect process by utilizing optimal resources in time

13. Henry Fords Mass Production System In 1910 Henry Ford laid the foundation of first highly organized assembly line system of automobile manufacturing. He organized all the elements of a manufacturing system-- people, machines, tooling, and products-- and arranged them in a continuous system called conveyer system for manufacturing the Model-T automobile. Ford was so incredibly successful he quickly became one of the world's richest men and put the world on wheels. Ford Motor Company produced A-Bomber an Hour during WWII for USAF using the same concept.

14. Mass Production MODEL T Machine that Changed the World Initially, took 14 hours to Assemble Model T - Mass Production reduced Time to 1 Hour and 33 Minutes Model Ts Price dropped from $1,000 in 1908 to $360 in 1916 1914: Ford produced 308,162 cars, more than all 299 other auto manufacturers combined 1927: Automobile Produced every 24 seconds

15. Toyota lean production 1956 Taiichi Ohno went to US to study Fords Manufacturing Facilities Found Mass Production Principles not Applicable: Scale of Japanese Markets Desire for Product Variety Unable to Afford Resources and Inventories Toyoda

16. Toyota Lean Production system Japanese economy was in shambles and Toyota could not afford Mass Production of vehicles due to smaller market size. Toyota begin to design a whole new concept of Production System which is now also known as Just-in-Time system. Taichii Ohno and Shigeo Shingo, are known as the brain behind Toyota Production System or Lean Production System or Just-in-Time System approach

17. Mass Production Vs Lean Production *Mass production is producing goods in large quantities at low cost per unit. *This system is also known as Push System or Just-in-Case System. *Mass production requires mass consumption. *With precision equipment, large numbers of identical parts could be produced at low cost and with a small work force. Lean Production producing goods as per requirement This system is also known as Pull system or Just In Time Lean Production required lean consumption zero waste Meet the demand with optimal utilization of recourses and zero waste

18. RAMKUMAR WADUT