Production planning means to fix the production goals and to estimate the resources which are
required to achieve these goals. It prepares a detailed plan for achieving the production goals
economically, efficiently and in time. It forecasts each step in the production process. It forecasts
the problems, which may arise in the production process. It tries to remove these problems. It also
tries to remove the causes of wastage.
Production planning provides answers for two major questions, viz.,
What work should be done?
How much time will be taken to perform the work?
So, production planning decides the ways and means of production. It shows the direction. It is
based on sales forecasting. It is a prerequisite of production control.
Definition of Production Planning
According to Ray Wild, production planning is defined as follows:
"Production Planning is concerned with the determination, acquisition and arrangement of all
facilities necessary for future operations."
Objectives of Production Planning
Role of Production Planning and Control in Manufacturing Industry