Description
Manufacturing is the creation or production of goods with the help of equipment, labor, machines, tools, and chemical or biological processing or formulation. It is the essence of secondary sector of the economy. The term may refer to a range of human activity, from handcraft to high-tech, but it is most commonly applied to industrial design, in which raw materials from the primary sector are transformed into finished good on a large scale. such goods may be sold to other manufacturers for production of more complex products or distributed via the tertiary industry to end users and consumers. In this modern times more advance nations are manufacturing because manufacturing is a very critical contributor to any nations gross domestic product. The manufacturing sector is also a very great source of employment, l must say that any country that manufacture more products are able to price very low to the consumers, because there is know import cost. In other for any business to start a manufacturing business and succeed that company must seriously undertake a comprehensive market research to first find out which product can be sold in the market, the competitors in the market and the cost involved in the production of that product, in this way it will help the business to really understand the market environment and the market trend. We must also understand that we cannot do a proper manufacturing business without a credible business plan. The current economic situations across the globe has put must manufacturers in a very tight corner, this survival tips for manufacturers is very critical to such as maintain your focus, maximize your productivity and increase your speed through enhanced product and process design and finally you need to pay attention to your production and supply chain. The safety in the manufacturing facility is very important to any serious business, its very important that companies conduct risk assessment and prioritize house keeping, training and adequate safety equipment and tools are very important for the safety of the workers.
