Final answer:
The term for a fully computer-assisted production system is Computer-Integrated Manufacturing (CIM), which includes CAD and CAM to enhance efficiency and reduce production costs.
Step-by-step explanation:
The term for a production system in which computers assist with product design, control machines, handle materials, and oversee the production function in an integrated manner is Computer-Integrated Manufacturing (CIM). CIM represents a manufacturing approach where the entire production process is controlled by computer. This methodology encompasses both software and hardware, such as Computer-Aided Design (CAD) and Computer-Aided Manufacturing (CAM), in order to facilitate efficient and effective production. It allows for a seamless integration of various stages from design to manufacturing, and enables firms to produce at lower costs and higher efficiency, thus leading to greater competitiveness in the market. Computer-Integrated Manufacturing (CIM) is an advanced production system where computers play a pivotal role across the entire manufacturing process. It involves seamless integration of various components such as product design, machine control, material handling, and production supervision. CIM optimizes efficiency and coordination by facilitating real-time communication between different stages of manufacturing. This comprehensive system enhances precision, reduces manual errors, and enables a more streamlined workflow. By utilizing CIM, industries can achieve greater automation, improve quality control, and respond more effectively to changing production requirements, marking a significant advancement in modern manufacturing methodologies.