Production management involves developing relationships between market demand and a company's production capabilities. It includes planning, organizing, directing, controlling inventory, and balancing the five factors of man, machine, material, money, and management. The scope of production management encompasses production planning and development, administration, implementation functions, and allied activities. A production system deals with input, processing, output, demand forecasting, and manufacturing control to efficiently convert inputs into the desired outputs through applying management functions like planning, organizing, directing, and controlling the production process. The main types of production are flow production, batch production, and unit production.