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.