Manufacturing Industry
MANUFACTURING INDUSTRY Manufacturing is the process of converting raw materials or parts into finished goods using tools, human labour, machinery, and chemical processing. Manufacturing enables businesses to sell finished goods at a price higher than the cost of the raw materials used. Large-scale manufacturing allows for the mass production of goods using assembly line processes and advanced technologies as core assets. Manufacturing techniques that are efficient allow manufacturers to take advantage of economies of scale, producing more units at a lower cost. Understanding Manufacturing Manufacturing is a vital and significant part of the economy. It entails the transformation of raw materials such as ore, wood, and food into finished goods such as metal goods, furniture, and processed foods. Adding value by converting these raw materials into something more useful. Because this added value raises the price of finished goods, manufacturing is a very profitable part