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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