Highlight the importance of studying Production and Operation Management (POM)

1. POM plays a major role in the MSE Micro and Small Scale Enterprises sector especially in
this era of liberalization.
2. Cost minimization and cost efficiency as the core function of the firms that have thrived in business is the domain culture a fare of POM.
3. Cost consciousness, introduction of new varieties and ways of doing things as a never ending company culture are firmly rooted in POM environments. These practices endure
competitiveness.
4. Research and Development especially in product design for new market are tasks that
have emanated from the evolving practices in POM.
5. POM practices enable recycling of non sellable by-products to reduce loses hence maximize
profits.
6. POM enhances quality in products and at the same time ensures efficiency in production
through technology transfer or adoption of technology.
7. Studying POM gives us a systematic approach to improving efficiency by determining each
workers skill and learning ability for best placement.
8. Since POM activities are mainly at the lower level of organizational hierarch, i.e. the shop floor- comprising mainly the superintendent and the lower middle management. Concentrating POM studies at the shop level is quiet strategic since this is where most management problems of the day are found.
9. Operation systems of organization take up largest part of its financial assets, personnel and expenses and studying POM helps them to make accurate estimates of these inputs.
10. POM enhances productivity which is good measure of economic growth.
11. Competitiveness of a nations good and services can be improved and sustained if POM
strategies are used in the production function.
12. Poverty alleviation as a result of jobs creation through POM technologies in the production system.

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NatalieR answered the question on June 10, 2022 at 11:30