This document discusses key concepts in production management. It defines production management as planning and regulating operations that transform materials into finished products. The 5 P's of production management are products, plant, process, programs, and people. Objectives include producing the right quality and quantity on time and within budget. Production planning and control is a tool to achieve objectives by directing resources based on demand and schedules. Different types of production discussed are batch, jobbing, project, mass/flow, and process production. Productivity is defined as the ratio of output to input, and factors that impact productivity are also outlined.