In production, a final product or finished product is a product that is ready for sale, distinguishable from a business's work in progress, which is not yet complete or ready for sale.
For example, oil is the final product of an oil company. The farmer sells his vegetables as his final product, after they have been through the whole process of growth.
Industrial process control (IPC) or simply process control is a system used in modern manufacturing which uses the principles of control theory and physical industrial control systems to monitor, control and optimize continuous industrial production processes using control algorithms. This ensures that the industrial machines run smoothly and safely in factories and efficiently use energy to transform raw materials into high-quality finished products with reliable consistency while reducing energy waste and economic costs, something which could not be achieved purely by human manual control.
In IPC, control theory provides the theoretical framework to understand system dynamics, predict outcomes and design control strategies to ensure predetermined objectives, utilizing concepts like feedback loops, stability analysis and controller design. On the other hand, the physical apparatus of IPC, based on automation technologies, consists of several components. Firstly, a network of sensors continuously measure various process variables (such as temperature, pressure, etc.) and product quality variables. A programmable logic controller (PLC, for smaller, less complex processes) or a distributed control system (DCS, for large-scale or geographically dispersed processes) analyzes this sensor data transmitted to it, compares it to predefined setpoints using a set of instructions or a mathematical model called the control algorithm and then, in case of any deviation from these setpoints (e.g., temperature exceeding setpoint), makes quick corrective adjustments through actuators such as valves (e.g. cooling valve for temperature control), motors or heaters to guide the process back to the desired operational range. This creates a continuous closed-loop cycle of measurement, comparison, control action, and re-evaluation which guarantees that the process remains within established parameters. The HMI (Human-Machine Interface) acts as the "control panel" for the IPC system where small number of human operators can monitor the process and make informed decisions regarding adjustments. IPCs can range from controlling the temperature and level of a single process vessel (controlled environment tank for mixing, separating, reacting, or storing materials in industrial processes.) to a complete chemical processing plant with several thousand control feedback loops.
A supply chain is a complex logistics system that consists of facilities that convert raw materials into finished products and distribute them to end consumers or end customers, while supply chain management deals with the flow of goods in distribution channels within the supply chain in the most efficient manner.
In sophisticated supply chain systems, used products may re-enter the supply chain at any point where residual value is recyclable. Supply chains link value chains. Suppliers in a supply chain are often ranked by "tier", with first-tier suppliers (also called "direct suppliers") supplying directly to the client, second-tier suppliers supplying to the first tier, and so on.