PRODUCTION MANAGEMENT AND MARKET CONSTRAINTS

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

Review of General Management, 2009, vol. 10, issue 2, 5-11

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.

Keywords: production; management; efficiency; variable inputs; costs; outputs; market price; optimal combination; resources. (search for similar items in EconPapers)
JEL-codes: G14 M11 (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:fmb:journl:v:10:y:2009:i:2:p:5-11

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