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What is forecasting and why is it necessary in production function?
Wiki User
∙ 14y ago
Forcasting is nothing but expectation/estimation.It is most important function in production process because
---->To procure raw materials in timely without disturbing production process.
----> To control over pricing of raw materials
----> Controlling material wastages of short term life
Wiki User
∙ 14y ago
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What is the production function and types of production function?
production function is relation between firm's production and material factors of production
What is short run production function?
if at-least one factor of production is constant, production function is infact short-run production function
What sources shift production function?
s shift in production function
What is the managerial use of production function?
In microeconomics, a production function asserts that the maximum output of a technologically determined production process is a mathematical production of input factors of production.
How do you derive a cost function for a production function?
derive cost function from production function mathematically, usually done by utilizing mathematical optimization methods.
Distinguish between production and operation management?
Production management is an organized function within a business that deals with planning, forecasting and production or marketing of a product at all stages of its lifestyle. Operation management is concerned with overseeing, designing and controlling production and business operations during the production of goods or services.
What is the production function and types of production function?
production function is relation between firm's production and material factors of production
What is short run production function?
if at-least one factor of production is constant, production function is infact short-run production function
What are the production function of Mc Donalds?
what is mcdonalds production function
What is a mitochondria and what is its function?
An organelle found in large numbers in most cells, in which the biochemical processes of respiration and energy production occur. The main function of the mitochondria is the production of energy, in the form of adenosine triphosphate (ATP). The cell uses this energy to perform the specific work necessary for cell survival and function.
What sources shift production function?
s shift in production function
What is the function of SER smooth endoplasmic reticulum in liver cells of vertebrates?
It is involved in detoxification, production of biochemicals necessary for digestion and in lipid digestion.
What is the use of production function?
In microeconomics, a production function asserts that the maximum output of a technologically determined production process is a mathematical production of input factors of production.
What is the managerial use of production function?
In microeconomics, a production function asserts that the maximum output of a technologically determined production process is a mathematical production of input factors of production.
How does one figure the production function of their company?
One would have to figure out the production function of their company pretty early on. The production involves the things they make, and the function is what the product does.
How do you derive a cost function for a production function?
derive cost function from production function mathematically, usually done by utilizing mathematical optimization methods.
Nature and scope of production management and operation management?
Production management is the planning, forecasting, or marketing of a product at all stages of the product's lifecycle. Operations management is overseeing, designing, and controlling the process of production.
