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Question
When advising John of what to include in the production plan of his business plan for his entrepreneurial venture, what would you not include in you recommendation?
When advising John of what to include in the production plan of his business plan for his entrepreneurial venture, what would you not include in you recommendation?
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Solution
The correct option is B Product price
The administrative process that takes place within a manufacturing business and which involves making sure that sufficient raw materials, staff and other necessary items are procured and ready to create finished products according to the schedule specified is production planning plan, focus is on inputs and process, i.e., plant and machinery used, material to be used, suppliers details, process of manufacturing.
Thus product pricing is not a part of production planning.
The administrative process that takes place within a manufacturing business and which involves making sure that sufficient raw materials, staff and other necessary items are procured and ready to create finished products according to the schedule specified is production planning plan, focus is on inputs and process, i.e., plant and machinery used, material to be used, suppliers details, process of manufacturing.
Thus product pricing is not a part of production planning.
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