What is Market Research?

             Market research is defined as the process of evaluating the feasibility of a new product or service, through research conducted directly with potential consumers. This method allows organizations or businesses to discover their target market, collect and document opinions.

Market research can be conducted directly by organizations or can be by the outsourced to agencies which have expertise in this process.

The process of market research can be done through deploying surveys, interacting with a group of people also known as sample, conducting interviews and other similar processes.  

Primary purpose of conducting market research is to understand the market scenario with a particular product or service, to decide how the audience will react to their product or service.

Classification of production system

 Classification of production system

    There are two types of production system 

• Intermittent Production System
• Continuous Production System

            In this production system different types of production flow will be followed (Ex:fig-1) 

fig 1

Intermittent Production System

    Intermittent production is an umbrella term for manufacturing processes that use irregular production schedules to create several different products using one production line. It's used by manufacturers who produce low-volume, high-variety products for either mass customization or bespoke manufacturing. and in this Intermittent Production System different types of production flow will be as mentioned below 

• Project Production Flow
• Jobbing production Flow
• Batch Production Flow

 Project Production Flow

        Project production is characterized by complex sets of activities that must be performed in a particular order within the given period and within the estimated expenditure

Jobbing production Flow

        The product is produced within a given period and at a fixed cost. This cost is fixed at the time of signing the contract. Examples of such jobbing production flows include, services given by repair shops, tailoring shops, manufacturer of special machine tools, etc

Batch Production Flow

        Batch production is a method whereby a group of identical products are produced simultaneously (rather than one at a time). It is up to the manufacturer to decide how big the batch will be, and how often these batches will be made. Each batch goes through the separate stages of the manufacturing process together.

Continuous Production System

        Continuous production is a flow production method used to manufacture, produce, or process materials without interruption. Continuous production is called a continuous process or a continuous flow process because the materials, either dry bulk or fluids that are being processed are continuously in motion, undergoing chemical reactions or subject to mechanical or heat treatment. Continuous processing is contrasted with batch production.

Continuous usually means operating 24 hours per day, seven days per week with infrequent maintenance shutdowns, such as semi-annual or annual. Some chemical plants can operate for more than one to two years without a shutdown. Blast furnaces can run from four to ten years without stopping. And in this Continuous Production System different types of production flow will be as mentioned below 

• Mass Production Flow
• Process Production Flow

        

Mass Production Flow

            Mass production is the manufacturing of large quantities of standardized products, often using assembly lines or automation technology. Mass production facilitates the efficient production of a large number of similar products

Process Production Flow

                

             In this PROCESS PRODUCTION in which a product passes through several processes or stages of production which are operated on a continuous basis; for example in oil refining ,power plants and petrochemicals plants.

PRODUCTION SYSTEM IN PRODUCTION AND OPERATIONS MANAGEMENT

Production System in Production and Operation Management

    The production system of an organization is that part, which produces products of an organization. It is that activity whereby resources, flowing within a defined system, are combined and transformed in a controlled manner to add value in accordance with the policies communicated by management. A simplified production system is shown above. The production system has the following characteristics

1. Production is an organized activity, so every production system has an objective.
2. The system transforms the various inputs to useful outputs.
3. It does not operate in isolation from the other organization system.
4. There exists a feedback about the activities, which is essential to control and improve system performance.