The Need For Effective Production Mgt In Nig

The Need For Effective Production Mgt In Nig

Production Management remains the planning, organizing, directing and controlling of production activities.

The main objective of production management is to produce goods and services of right quality and quantity at the right time and at minimum cost by ensuring optimum utilization of available production capacity.

In this regard, there is no doubt that Nigeria urgently needs effective production management strategies to revive its ailing economy.

The challenge of effective production management is on the increase as rapid advancement in technology, population growth, globalization, competition and, changing demand in goods and services stares one in the face.

Production managers therefore, have the responsibility of meeting organizational goals effectively to exceed minimum quality standard.

Since the production sector is central to the development of any nation, it is often regarded as the engine of the economy.

Over the years, the nation’s productive sector has suffered a lot of setbacks, ranging from dumping, multiple taxation, obsolete technologies, inconsistency in government policy implementation and inadequate infrastructure to over dependency on external resources.

Most experts attribute the current economic reality in the country to the fact that entrepreneurs are yet to appreciate the role and importance of a well-developed indigenous production base for the promotion of local brands in the international markets; thereby shielding the local currency from external pressure with its foreign counterparts as well as preserving the country’s foreign reserve.

On the contrary, advanced nations embraced early enough the need to make production management the pivot upon which their technological breakthrough is based.

With the new administration’s ‘Renewed Hope Agenda’, Nigeria must not be left behind.

Effective production management would assist the government in policy formulation as well as advise on issues relating to trade and investment.

It is imperative that people who venture into the production business be educated and informed about the best operational management practices, for the betterment of the country.

This is to allow the basic principle of transparency, probity and accountability to be firmly rooted for effective production.

In this regard, its ripple effect in transforming the nation’s economy will be visible and holistic as the nation’s Gross Domestic Product, GDP will improve.

Similarly, for an organization, production management may support the marketing department as it finds it easier to sell good quality products; the finance department gets more funds due to increase in sales, more loans and share capital for expansion and modernization would also be available.

On the other hand, the personnel department would manage the human resource effectively.

This helps to minimize cost of production through maximization of output and minimization of input.

Another advantage is that it enables the firm to achieve its cost production and efficiency objective.

To the society, production activities create employment opportunities.

The result is that the economy gets a boost through optimum utilization of resources and effective production of goods and services.

This is heartwarming and can lead to speedy economic recovery as the service sector such as banking, transport, communications and insurance will create more jobs for the populace.

Currently, the nation’s productive sector faces a lot of challenges, some of which are yet to be resolved, hence the need for effective production management in the country.

To assist manufacturers therefore, the government should put in place modalities for low interest loans that will support the productive sector of the economy, especially now that the nation is facing some challenges and the cost of goods and services are increasing daily.

By Fred Shaka-Braimah, Edited By Grace Namiji