SYLLABUS

UNIT-I

Production economics: introduction, evaluation, major long term and short term decisions; objectives, importance and activities, differences between products and services. Meaning and types of production systems: production to order and production to stock; plant location; factors affecting location and evaluating different locations.

UNIT-II

Production planning and control, objectives, advantages and elements. PPC and production systems, sequencing and assignment problems.
Inventory control: objectives, advantages and techniques (EOQ model and ABC analysis); quality control: meaning and importance, inspection, quality control charts for variables and attributes.

UNIT-III

Materials Management: meaning, objectives, importance, functions and organization materials information system; standardization, simplification and variety reduction; value analysis and engineering.

UNIT-IV

Stores Management: meaning, objectives, importance and functions, stores layout; classification and codification; inventory control of spare parts; materials logistics, warehousing management, materials handling, traffic and transportation; disposal of scrap, surplus and obsolete materials.