Definition: Production is the method of turning raw materials or inputs into finished goods or products in a manufacturing process. In other words, it means the creation of something from basic inputs.
What Does Production Mean?
What is the definition of production? Production may also refer to the goods being produced. For instance, some business call a set of products being produced at the same time a production run. Both of these definitions are interchangeable. Basically, it just means a manufacturing process or the end result of a manufacturing process.
Economists call businesses that produce goods producers. These companies create products to sell to their customers. For example, a clothing company produces clothing for consumers. Today, however, companies are leaning toward the trend of outsourcing their production capacities, so that they do not need to perform it themselves.
For example, a clothing company may distribute clothing as their product, but the clothing itself is manufactured by an entirely different organization overseas. Sometimes the intangible process of brainstorming ideas for the products’ formation is also considered to be a part of the production process. An example of this is Apple. They design all of their electronics in California, but have them produced overseas.
Example
Edgar Allen Poe is running a poetry business called Poets R Us. The purpose of his business is to use a host of employed writers to deliver poetry content to other poetry firms and individuals that need poetry on an on-demand basis. When Edgar Allen Poe receives a request to provide poetry for a client, he refers them to his employees who provide the poetry for him.
These poems are considered to be in production because they are currently being produced. The process of brainstorming, formulating the stanzas, literary techniques, and unique ways to incorporate the theme into the overall poem is included under the umbrella of production.
Summary Definition
Define Production: Producing means to manufacturing or creating a product or good from raw materials.
