Definition: The term 'manuufacturing' is a broad concept that encompasses various activities and processes involved in producing goods or services. It can refer to both manufacturing and production, which are distinct but related activities.
Manufacturing involves the creation of new products or services from raw materials or components. This process typically includes several key steps:
1.
Raw Materials
- The initial material used to produce the final product is known as the raw material. It could be a metal, plastic, wood, or