Production Processes

Definition

Production processes refer to the methods used to transform inputs into outputs or finished goods. These processes involve activities such as manufacturing, assembly, packaging, and distribution.

Related terms

Outsourcing: This term describes when companies hire external parties or other organizations to perform specific production tasks or services.

Supply Chain: A supply chain is a network that encompasses all stages involved in delivering a product or service from raw materials extraction to final consumption.

Just-in-Time Manufacturing (JIT): JIT is an approach where items are produced or delivered just when they are needed in order to minimize inventory costs.