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in Entrepreneurship by (53.5k points)

Explain are the various elements of an Operational plan?

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a.  Routing:

Routing is a process concerned with determining exact route or path a product/ service has to follow right from raw material till its transformation into finished product.

b.  Scheduling:

It means fixation of time, day, date when each operation is to be commenced and completed. It is the determination of the time that should be required to perform each operation.

c.  Dispatching: 

The process of initiating production in accordance with pre-conceived production plan is said to be dispatching. This includes issuing necessary orders instructions, guidelines and/or information to work pertaining to giving practical shape to the production plan. 

d.  Follow-Up: This element relates to evaluation and appraisal of work performed. A properly planned follow-up procedure is helpful in dispatching errors and defects in the work.

Follow-up element helps the entrepreneurs in: 

(a)  Developing ways to review the present situation with regard to materials, work-in-progress and finished goods. 

(b)  Evolving ways to expedite the performance of those departments which lag behind. 

(c)  Removing obstacles in the way of production by suggesting remedial measures.

e.  Inspection:

Inspection is the art of comparing materials, product or performance with established standards. This element helps the entrepreneur to set up laboratories or evolve strategies/methods to ensure predetermined quality of product/service.

f.  Shipping: 

This element is a detailed presentation by the entrepreneur explaining the chronological steps in completing a business transaction efficiently and profitably.

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