Plant layout is a floor plan of the physical facilities used in production. The objectives of plant layout include minimizing costs and time, utilizing space effectively, and facilitating manufacturing processes and organizational structure. Layouts can be classified as process, product, combination, or fixed position. A process layout groups similar machines together, while a product layout arranges machines in the order of production steps. Combination layout uses aspects of both, and fixed position layout dictates machine placement based on product characteristics. The document then discusses advantages and limitations of each type of layout.