English for Managers. Аристова Е.В. - 27 стр.

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UNIT 5
Text 5.1
"FIVE M'S" IN PRODUCTION MANAGEMENT
Production management's responsibilities are summarized by the "five M's":
men, machines, methods, materials, and money.
"Men" refers to the human element in operating systems. Since the majority of
manufacturing personnel work in the physical production of goods, "people
management" is one of the production manager's most important responsibilities.
Production managers must also choose the machines and methods of the
company, first selecting the equipment and technology to be used in the manufacture
of the product or service and then planning and controlling the methods and
procedures for their use. The flexibility of the production process and the ability of
workers to adapt to equipment and schedules are important issues in this phase of
production management.
The production manager's responsibility for materials includes the
management of flow processes-both physical (raw materials) and information
(paperwork). The smoothness of resource movement and data flow is determined
largely by the fundamental choices made in the design of the product and in the
process to be used.
The manager's concern for money is explained by the importance of financing
and asset utilization to most manufacturing organizations. A manager who allows
excessive inventories to build up or who achieves production level and steady
operation by sacrificing good customer service and timely delivery runs the risk that
overinvestment or high current costs will wipe out any temporary competitive
advantage that might have been obtained.
Planning and control
The production manager must plan and control the process of production so
that it moves smoothly at the required level of output while meeting cost and quality
objectives. Process control has two purposes:
1. to ensure that operations are performed according to plan, and
2. to continuously monitor and evaluate the production plan to see if
modifications can be made to better meet cost, quality, delivery, flexibility, or other
objectives.
For example, when demand for a product is high enough to justify constitutions
production, the production level might need to be adjusted
From time to time to address fluctuating demand or changes in a company's
market share. When more than one product is involved, complex industrial
engineering or operations research procedures are necessary.
Inventory control is another important phase of production management.
Inventories include raw materials, component parts; work in processes, finished
goods, packing and packaging materials, and general supplies. Although the effective
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