Akademik

production

In the context of project financing, a defined portion of the proceeds of production up to a dollar amount. Bloomberg Financial Dictionary

* * *

production pro‧duc‧tion [prəˈdʌkʆn] noun

1. [uncountable] MANUFACTURING the process of making or growing things to be sold as products, usually in large quantities:

• Toshiba is increasing production of its popular line of laptop computers.

• They have plans to design a smaller submarine that could go into production (= start being produced ) by the end of the decade.

• a new plant with an annual production capacity of (= the ability to produce ) 500,000 disk drives

• Germany's high production costs

• a magnesium metal production facility (= factory )

• He was a production manager for Lockheed Corp.

• By adjusting the production process, they were able to reduce the plant's waste by two-thirds.

• Bonuses were introduced for employees meeting production targets (= aims ) .

• production workers assembling pianos
— see also factor of production

2. [uncountable] MANUFACTURING an amount of something that is produced:

• In August, production of passenger cars climbed 12% from a year earlier.

ˈbatch proˌduction [uncountable] MANUFACTURING

when a factory makes a quantity of one form of a product or part, followed by a quantity of another different form:

• small batch production on a flexible manufacturing system

conˌtinuous proˈduction also ˈflow proˌduction, ˈprocess proˌduction [uncountable] MANUFACTURING

when a finished product is produced from basic materials in one production process:

• Assembly line operation is an important feature of flow production.

diˌrect proˈduction [uncountable] MANUFACTURING

when someone produces all the things they need using their own efforts and skills, without the advantages of specialization (= concentrating on producing only one product) or the division of labour (= using different people to do different jobs). Direct production is more an economic model than a real production method

inˌdustrial proˈduction [uncountable] MANUFACTURING

used to talk about the total production from all industrial activities in a particular period of time:

• Industrial production figures due today are likely to show that the UK manufacturing sector remains depressed.

ˌjobbing proˈduction [uncountable] MANUFACTURING

when a single product is made, rather than large quantities of goods:

• Jobbing production is used to produce prototype models, spare parts, and countless other tailor-made pieces.

just-in-ˈtime proˌduction [uncountable] MANUFACTURING

when parts are delivered just before they are needed in the process of producing something:

• Just-in-time production dictates that parts be delivered to a factory at the last minute. That cuts inventories and finance costs.

ˌlean proˈduction [uncountable] MANUFACTURING

when things are manufactured using just-in-time production methods, with the aim of zero defects (= no faults), no reworking (= working again on things that were done wrong) etc:

• He wants to bring in lean production, with fewer workers and more components being subcontracted.

ˌmass proˈduction [uncountable] MANUFACTURING

when products are made in large numbers by machines, so that they can be produced cheaply:

• The new model will become cheaper with mass production.

• The technique developed by Matsushita brings the mass-production cost down to under £3.00 per watt.

ˌprimary proˈduction

1. [uncountable] ECONOMICS activities such as agriculture, fishing, and mining, rather than manufacturing:

• The proportion of jobs coming from primary production is much greater in the Highlands than in the rest of Scotland.

2. [uncountable] the first stage in producing oil, metals etc, rather than producing other things from oil etc:

• Aluminum producers have announced cuts in primary production of 900,000 metric tons.

3. [countable, uncountable] the process of making films, television, and radio broadcasts, or plays, or a particular film etc:

• a film production company

• CBS has been discussing possible co-productions with the BBC.

* * *

production UK US /prəˈdʌkʃ^ən/ noun [U] PRODUCTION

► the process of producing commodities (= oil, metals, crops, etc.) or manufacturing goods to be sold: production costs/processes/targets »Many businesses have moved their manufacturing operations to Asia to lower their production costs.
a decline/fall/increase in production »Opec is expected to agree to an increase in production.
»energy/food/oil production

● go into/out of production — Cf. go out of production

► (also Production) the department in a company that makes goods: »The launch date has been announced so it is vital that Production deliver on time.

► the amount of goods or products that are made or grown by a company or country: »UK wheat production is forecast to be 700,000 tonnes higher than last year.
»cut/expand/increase production

► the activity of organizing the practical and financial details of a film, television programme, etc.: »The production company that owns the format has made huge profits from its adoption by networks around the world.

► the act of providing something to be examined: »Refunds will only be given on production of a receipt.

→ See also BATCH PRODUCTION(Cf. ↑batch production), CONTINUOUS PRODUCTION(Cf. ↑continuous production), FACTOR OF PRODUCTION(Cf. ↑factor of production), INDUSTRIAL PRODUCTION(Cf. ↑industrial production), JOB PRODUCTION(Cf. ↑job production), JUST IN TIME(Cf. ↑just in time), MASS PRODUCTION(Cf. ↑mass production), PRIMARY PRODUCTION(Cf. ↑primary production), SECONDARY PRODUCTION(Cf. ↑secondary production)

Financial and business terms. 2012.