Question

‘Bharat Ltd.’ is a manufacturer of electronic items. In 2022 – 23, the company decided to enter into manufacturing Artificial Intelligence-based computers. Being highly complex and tedious, the manufacturing process of these computers needed to be thoroughly planned. (a) Identify the component of business plan discussed in the above paragraph. (b) State the objective of the component identified in (a) above. (c) List five points that are needed to be described in this component of business plan, if the manufacturing is to be carried out in whole by ‘Bharat Ltd.’.

Hint:

Production Plan = How, where, and with what resources the product will be made.

Answer 1

(a) Component of Business Plan:
The component discussed is the Production Plan.

(b) Objective of Production Plan:
The objective of the production plan is to explain how the products will be manufactured or produced. It details the production process, the resources required, and the arrangements made to ensure smooth and efficient production, maintaining quality and controlling costs.

(c) Five Points to be Described in the Production Plan:
If Bharat Ltd. manufactures the AI-based computers entirely on its own, the production plan should describe:

1. Location of Production:
The site or factory where manufacturing will take place.

2. Production Process:
Detailed steps and techniques involved in manufacturing the AI-based computers.

3. Machinery and Equipment:
List and specifications of machines and tools required for production.

4. Raw Materials and Inputs:
Description of the components, parts, and raw materials needed for manufacturing.

5. Quality Control Measures:
Procedures to ensure that the final products meet quality standards.