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Production is the process of creating goods and services

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Production is the process of creating goods and services. It involves the transformation of raw materials into finished products through a series of activities such as planning, organizing, staffing, directing, coordinating and controlling, and are be done in-house or outsourced to a third-party supplier. The production process must be efficient and cost-effective in order to maximize profits for the business. In addition, production must also meet customer needs by producing quality goods and services that are delivered on time. An integral part of any business as it ensures that all resources are used effectively to create value for customers.