Chain of production

The chain of production consists of the various stages involved in the production of a particular product. The chain...

Stock control

Businesses hold stocks in a variety of forms: raw materialswork-in-progressfinished goodsconsumablesplant and machinery spares. The aim...

Research and development

Most people associate the research and development (R&D) function of a company with the invention of new products. Whilst this is very...

Production and quality

The term 'quality' in a business sense means 'fitness for purpose'. A supplier supplies a quality product when it exactly meets the...

Quality

Quality is often defined as 'fitness for purpose'. In other words a quality product is one that meets...

Factors of production

The term factors of production relates to the key factors that go into making goods. It is common practice to break these...

Operations

Operating activities (or operations) are the ongoing activities that a business is involved in - e.g. processing a customers order in an...

Production and resource requirements

Production consists of all those processes which involve converting inputs into finished outputs that can be sold in the marketplace. In order...

Critical path analysis

Critical Path Analysis (CPA) is a management tool designed to ensure the most efficient scheduling of any project. Suppose...

Constraints on production

There are a number of limiting factors that determine the quantity and nature of output that a producer is able to achieve...