For example, knowledge includes information, data, software, experience, skill, management and organizational structure. Artifacts encompass capital, equipment and work instruments, from simple tools to complicated machinery, building and infrastructure. By-products are the secondary products. They are not classified as main products, but with effective marketing they can be sold. Effluent and waste materials are classified as side-products.
Human resources generate, refine and add value to knowledge.
Knowledge and human resources are separate distinct factors of production. The unique character of the term knowledge accommodates service factors such as research, engineering and design. The by-products of a production process include also the development of equipment capital, knowledge and human labor resources. The Dynamic model perceives the relationships between its input and output as above. The most recent revision to the definition of industrial engineering is also based on the dynamic model.