Production comprises a wide range of activities, its scope encompassing the origination of inputs, product design, manufacturing and distribution, all the way to consumer use and return or reuse. Production embraces practically all sectors of the economy, and is the dominant focus of R&D spending in national innovation systems.
It has been an important driver throughout economic history – the story of previous industrial revolutions is largely that of the evolution of production. It is indeed a critical component of the industrial revolution we are currently embarking on. This is acknowledged by the World Economic Forum in the launch of a major initiative on Shaping the Future of Production that is concerned with unlocking the potential of the production sector while addressing associated global challenges.
