Aggregate production functions, particularly theCobb-Douglas model have been widely used in modeling input and outputrelationships in various organisations and at national economic levels. Mostcommonly used is the two-factor model where all inputs are aggregated ascapital and labour factors of production. In this paper, a six-factorCobb-Douglas model has been fitted to a ten-year production data obtained froma palm-oil producer. By logarithmic transformation, the normal equationsobtained from the model were solved by the Least Squares method to obtain theoutput elasticities. The bootstrapping technique was used to establish theirvalidity. The input components were aggregatedand used in the traditional aggregate Cobb-Douglas model to obtain comparativeresults. For the disaggregated model, the output elasticities for the six inputcomponents were found to be 0.1653, 0.0457, 0.0864,-0.3136, 0.0403 and 0.3845respectively, resulting in a decreasing return to scale of 0.4086. In the caseof aggregate model, we have output elasticities of 0.4578 and 0.2730 foraggregate capital and labour respectively, also indicating a decreasing returnto scale of 0.7308. However it was found that while the aggregate model gave ageneralized result, the disaggregated approach pointed to specific aspects ofthe inputs that were adversely affecting the productivity of the organizationand thus requiring stringent management control. Thus the study showed that thedisaggregated Cobb-Douglas production function is superior to the traditionaltwo-factor model. The model developed which was statistically tested, is noveland provides robust decision support for budding and seasoned firms.