1. Production and manufacturing both are process to converting inputs into outputs by applying some operation or process. Both terms are used interchangeably, yet both are different. Difference is the raw material procurement. When raw materials are not procured from outside, the company owns it, after processing operations produce goods/service, then the process is called Production. While maufacturing also includes Design sales marketing, and is a narrow term. Whereas production is a broader term.
2. While mass production is effective for creating large quantities of one item, flexible production is usually more cost-effective for producing smaller runs. Whereas customer-driven production system evaluates customers demands in order to make the connection between products manufactured and products bought.
3. The Analytic production system reduces a raw material to its component parts in order to extract one or more marketable products. The part of production that physically or chemically changes materials. For Ex: Petroleum refining breaks down crude oil into several marketable products, including gasoline, heating oil, and aviation fuel. Synthetic production system is the reverse of an analytic system. It combines a number of raw materials to produce finished products. The part of production process that puts together components. For Ex: Canon’s assembly line produces a camera by assembling various parts such as a shutter or a lens cap.
4. Business sustainability requires firms to adhere to the principles of sustainable development. According to the World Council for Economic Development (WCED), sustainable development is development that “meets the needs of the present without compromising the ability of future generations to meet their own needs.” So, for industrial development to be sustainable, it must address important issues at the macro level, such as: