PRODUCTION MANAGEMENT AND MARKET CONSTRAINTS Cover Image

PRODUCTION MANAGEMENT AND MARKET CONSTRAINTS
PRODUCTION MANAGEMENT AND MARKET CONSTRAINTS

Author(s): Constantin Drăghici, Elena Daniela Popescu
Subject(s): Economy
Published by: Editura Eurostampa
Keywords: production; management; efficiency; variable inputs; costs; outputs; market price; optimal combination; resources

Summary/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: labor and capital. The paper presents a relation between market price evolution as a constraint and mixing of resources as a management priority

  • Issue Year: XVI/2010
  • Issue No: 16
  • Page Range: 901-906
  • Page Count: 5
  • Language: English
Toggle Accessibility Mode