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 of the business chain. Some people specialize in the skills
required to manufacture goods, while others provide the funds required by
businesses to purchase the necessary tools and materials. As previously stated,
manufacturing efficiency can lead to increased productivity and cost savings.
The
Evolution of Modern Manufacturing
Before
the Industrial Revolution, handcrafted goods dominated the market. This era saw
the birth of the industrial process, in which raw materials were transformed
into finished goods in large quantities. With the advancement of steam engines
and newer technologies, businesses were able to use machines in the
manufacturing process. This reduced the need for human capital while increasing
the total volume of goods produced.
Mass
production and assembly line manufacturing enabled companies to create
interchangeable parts, allowing finished products to be easily manufactured by
reducing the need for part customization. In the early twentieth century, Henry
Ford popularized mass-production techniques. Companies have since pioneered
high-tech manufacturing methods thanks to computers and precision electronic
equipment.
Advanced
manufacturing:
Advanced
manufacturing is a process that uses new technology to improve the production
of products. This manufacturing process enables businesses to add more value to
the raw materials they use and better serve their target markets. Newer
technologies also aid in the faster introduction of new products to the market
while increasing output.
Submitted By
Sk. Mohamad Mujammil
TPS – A ( Section )
30-005
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