production vs devising

production and devising both are nouns.

Word	Noun	Adjective	Verb	Adverb
production	Yes	No	No	No
devising	Yes	No	No	No

As nouns, devising is a hyponym of production; that is, devising is a word with a more specific, narrower meaning than production:

production (noun)	devising (noun)
the act or process of producing something	the act that results in something coming to be
(law) the act of exhibiting in a court of law
(economics) manufacturing or mining or growing something (usually in large quantities) for sale
the creation of value or wealth by producing goods and services
an artifact that has been created by someone or some process
a presentation for the stage or screen or radio or television
a display that is exaggerated or unduly complicated
the quantity of something (as a commodity) that is created (usually within a given period of time)