Unit – 1
Question – 1
Define and explain Production & Operation Managementand What do you understand by concept of Product Management ?or
Question - 2
. Explain the concept of production and evaluation of production Management. How does a production managementcontribute to the growth of an organisation? (dec 2010)
is an intentional act of producing something in an organizedmanner.It is the fabrication of a physical object through he use of men, materialand some function which has some utility e.g. repair of an automobile, legaladvice to a client, banks, hotels, transport companies etc. Thus irrespective of thenature of organization, production is some act of transformation, i.e. inputs areprocessed and transformed into some output. The main inputs are information,management, material, land, labour and capital. Fig. shown below explains theproduction process of an organization.
is an organizational lifecycle function within a companydealing with the planning or forecasting or marketing of a product or products atall stages of theproduct lifecycle.Product development(inbound-focused) andproduct marketing(outbound-
focused) are different yet complementary efforts with the objective of maximizingsales revenues, market share, and profit margins. The role of productmanagement spans many activities from strategic to tactical and varies based onthe organizational structure of the company. Product management can be afunction separate on its own and a member of marketing or engineering.While involved with the entireproduct lifecycle, product management's mainfocus is on drivingnew product development. According to the ProductDevelopment and Management Association, superior and differentiated newproducts — ones that deliver unique benefits and superior value to the customer— is the number one driver of success and product profitability.Depending on the company size and history, product management has a varietyof functions and roles. Sometimes there is a product manager, and sometimesthe role of product manager is shared by other roles. Frequently there is Profit