Production Management System:
It is observed that one cannot demarcate the beginning and end points of Production Management in an establishment. The reason is that it is interrelated with many other functional areas of business, viz., marketing, finance, industrial relation policies etc.
Alternately, Production Management is not independent of marketing, financial and personnel management due to which it is very difficult to formulate some single appropriate definition of Production Management.
Meaning Of Production Management System:
Production management means planning, organizing, directing and controlling of production activities. Production management deals with converting raw materials into finished goods or products. It brings together the 6M’s i.e. men, money, machines, materials, methods and markets to satisfy the wants of the people.
Production management also deals with decision-making regarding the quality, quantity, cost, etc., of production. It applies management principles to production. Production management is a part of business management. It is also called “Production Function.” Production management is slowly being replaced by operations management.
The main objective of production management is to produce goods and services of the right quality, right quantity, at the right time and at minimum cost. It also tries to improve the efficiency. An efficient organization can face competition effectively. Production management ensures full or optimum utilization of available production capacity.
Epicor® manufacturing and production management software offers easy-to-use production management capabilities designed to meet the needs of progressive make to order and mixed mode manufacturing companies. Epicor understands that many manufacturers are complex businesses that defy categorization, often making complex products alongside more straightforward repetitive ones. They require exceptionally flexible and versatile software in order to accommodate combinations of make to order (MTO), configure to order (CTO), engineer to order (ETO), and make to stock (MTS).