Question

Kartik works as a production analyst at 'Shree Tyres'. During the board meeting for the financial year 2022-23, the target production of tyres for the year was decided at 6 lakh units. The Managing Director of the company asked Kartik to prepare a blueprint in advance and work your plan. He also added that this blueprint will ensure orderly flow of materials in the manufacturing process from the beginning to the end.

Identify and explain the component of ‘Business Plan’ being discussed by the Managing Director.

Answer 1

Operational Plan: "The operational plan coordinates for the intended manufacturing results in terms of material movement, machine performance, and labour operations, however divided, into a defined direction."

1. Quantity
2. Quality
3. Time
4. Place
5. Cost