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Product Manager is the one who manages the product available for its promotion, marketing, profit and sale eventually while Production Manager is the one who develops or produces teh product from the raw material in a factory or industry.
Le Directeur de production est le chef des chefs de produits
Production manager is a person who looks after all type of production in an organization, while product manager is someone who looks after a product portfolio and is responsible for complete product cycle , his duty comprises of dealing with marketing,R&D,customers and all other stake holders to enhance the sales and introducing new products.
product manager responsible only for one product in the portfolio But the production Manager does not relate to any specific product it has the responsibility for whole production.