Production Management And Market Constraints
AbstractThe present paper deals with optimization of production depending on input resources under market constraints. Production efficiency refers to increasing the output with a minimum input. The objectives of management are: reducing costs of outputs simultaneously with reducing prices of market goods. This is a big challenge for each firm, in order to ensure quality with reducing costs per unit when the market “imposes” the price. Reducing the cost per unit depends on the optimal combination of resources: labour and capital. The paper presents a relation between market price evolution as a constraint and mixing of resources as a management priority.
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Bibliographic InfoArticle provided by Spiru Haret University, Faculty of Management Brasov in its journal Review of General Management.
Volume (Year): 10 (2009)
Issue (Month): 2 (N0vember)
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Web page: http://www.spiruharet.ro/facultati/facultate.php?id=7
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production; management; efficiency; variable inputs; costs; outputs; market price; optimal combination; resources.;
Find related papers by JEL classification:
- M11 - Business Administration and Business Economics; Marketing; Accounting - - Business Administration - - - Production Management
- G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies
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