Question

Explain the key elements of an operation plan that help an entrepreneur streamline the production and manufacturing process.

Answer 1

Key elements of an operation plan that help an entrepreneur streamline the production and manufacturing process are:

1. Routing: Routing is a process concerned with determining the exact route or path a product/service has to follow right from raw material till its transformation into a finished product.
2. Scheduling: Scheduling simply means fixation of time, day, and date when each operation is to be commenced and completed. In general, it’s the determination of the time that should be required to perform each operation.
3. Dispatching: The process of initiating production in accordance with the preconceived production plan is said to be dispatching. This includes issuing necessary orders instructions, guidelines, and information to work pertaining to giving practical shape to the production plan.
4. Follow-Up: Follow-up or expediting function relates to evaluation and appraisal of work performed. A properly planned follow-up procedure is helpful in dispatching errors and defects in the work.
5. Inspection: Inspection is the art of comparing materials, product or performance with established standards. This element helps the entrepreneur to set up laboratories or evolve strategies/methods to ensure predetermined quality of product/service.