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What makes a good production plan? Share To maximize productivity, every company needs a sound production plan. However, effective planning is a complex process that covers a wide variety of activities to ensure that materials, equipment and human resources are available when and where they are needed.
Production planning is like a roadmap: It helps you know where you are going and how long it will take you to get there. Here are some advantages of an effective production plan and scheduling. Reduced labour costs by eliminating wasted time and improving process flow. Reduced inventory costs by decreasing the need for safety stocks and excessive work-in-process inventories.
Optimized equipment usage and increased capacity. Improved on-time deliveries of products and services. Key factors of a production plan Effective planning hinges on a sound understanding of key activities that entrepreneurs and business managers should apply to the planning process.
Here are some examples: Forecast market expectations To plan effectively, you will need to estimate potential sales with some reliability. Most businesses don't have firm numbers on future sales. Availability of equipment and human resources Also known as open time, this is the period of time allowed between processes so that all orders flow within your production line or service.
Production planning helps you manage open time, ensuring it is well-utilized, while being careful not to create delays. Planning should maximize your operational capacity but not exceed it. It's also wise not to plan for full capacity and leave room for the unexpected priorities and changes that may arise.
Standardized steps and time Typically, the most efficient means to determine your production steps is to map processes in the order that they happen and then incorporate the average time it took to complete the work.
Remember that all steps don't happen in sequence and that many may occur at the same time. After completing a process map, you will understand how long it will take to complete the entire process. Where work is repeated or similar, it is best to standardize the work and time involved.
Document similar activities for future use and use them as a base-line to establish future routings and times.
This will speed up your planning process significantly. During the process map stage, you may identify waste. Risk factors Evaluate these by collecting historical information on similar work experiences, detailing the actual time, materials and failures encountered.
Where risks are significant, you should conduct a failure mode effect analysis method FMEA and ensure that controls are put in place to eliminate or minimize them. This method allows you to study and determine ways to diminish potential problems within your business operations.
This type of analysis is more common in manufacturing and assembly businesses. How to plan work All other activities are initiated from the production plan and each area is dependent on the interaction of the activities. Typically, a plan addresses materials, equipment, human resources, training, capacity and the routing or methods to complete the work in a standard time.
In order to do a good sales forecast, you should base it on a history of firm orders. The production plan initially needs to address specific key elements well in advance of production in order to ensure an uninterrupted flow of work as it unfolds.
Material ordering—Materials and services that require a long lead time or are at an extended shipping distance, also known as blanket orders, should be ordered in advance of production requirements.
Suppliers should send you materials periodically to ensure an uninterrupted pipeline.
Equipment procurement—Procuring specialized tools and equipment to initiate the production process may require a longer lead time. Keep in mind that the equipment may have to be custom made or simply difficult to set up. This type of equipment may also require special training. Bottlenecks—These are constraints or restrictions in the process flow and should be assessed in advance so you can plan around them or eliminate them before you begin production.
When you assess possible bottlenecks, be aware that they may shift to another area of the process.Wikimedia Commons If you attend business school, you can expect to read a lot of case studies. Professors love them because they offer real-world examples of why businesses succeed and fail.
There. The Times offers a comprehensive range of case studies, many provided by real companies, with topics ranging from marketing, finance, environment, strategy and operations management. Associations for Teaching Professionals.
A business plan can provide essential background information on your business, strategy, and culture to employees, including managers and staff, as your business grows. Jun 11, · In its bankruptcy filing, Gawker listed $50 million to $ million in assets and $ million to $ million in liabilities.
The company still plans to appeal the case.
The Times Business Case Studies. NIVEA Developing a marketing plan. Introduction to NIVEA. Major brand owned by Beiersdorf Introduced in A global brand with14 product ranges Includes moisturisers, deodorant, suncare NIVEA FOR MEN launched in UK in Slideshow by ansel.
5 outstanding Facebook marketing case studies We've highlighted five of the best Facebook marketing case studies from , including examples from Disney, Shutterfly and Qwertee.