PRODUCTION OPERATIONS MANAGEMENT

Jun 28th, 2015
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A. T. Still University
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According to Brech, “Controlling is a systematic exercise which is called as a process of checking actual performance against the standards or plans with a view to ensure adequate progress and also recording such experience as is gained as a contribution to possible future needs.” According to Donnell, “Just as a navigator continually takes reading to ensure whether he is relative to a planned action, so should a business manager continually take reading to assure himself that his enterprise is on right course.”

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ControllingThe basic management function of (1) establishing benchmarks or standards, (2) comparing actual performance against them, and (3) taking corrective action, if required.AUDIT1. Accounting: Systematic examination and verification of a firm's books of account, transaction records, other relevant documents, and physical inspection of inventory by qualified accountants (called auditors). See also external audit and internal audit.2. 2. Quality control: Periodic (usually every six months) onsite-verification (by a certification authority) to ascertain whether or not a documented quality system is being effectively implemented.Cost ControlPractices and policies used by businesses to determine whether actual costs are in line with budgeted costs and to correct discrepancies by limiting actual costs or adjusting budgeted costs. Cost control is necessary for a business to sta

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