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Production Management And Market Constraints

Author

Listed:
  • Laurean BOGDAN

    () (“Lucian Blaga” University Sibiu, Faculty of Engineering, Romania)

Abstract

The 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.

Suggested Citation

  • Laurean BOGDAN, 2009. "Production Management And Market Constraints," Review of General Management, Spiru Haret University, Faculty of Management Brasov, vol. 10(2), pages 5-11, N0vember.
  • Handle: RePEc:fmb:journl:v:10:y:2009:i:2:p:5-11
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    More about this item

    Keywords

    production; management; efficiency; variable inputs; costs; outputs; market price; optimal combination; resources.;

    JEL classification:

    • M11 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Production Management
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading

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