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Manufacturing combines the use of tools and machines with labor to produce goods for sale. If you are considering starting a manufacturing business, there is some important information to consider. Manufacturing generally refers to raw items being turned into finished goods. Most commonly, manufacturing results in the mass production of goods for sale to consumers for profit.
Manufacturing may be referred to as fabrication in some industries, such as the steel or semiconductor industries. Manufacturing is also related to engineering and industrial design, so if you have knowledge of those fields you will be better off.
Major manufacturing companies include Volkswagen Group, Michelin, Samsung, Bridgestone, and Pfizer. These companies sell products ranging from MP3 players to drugs.
When you create your manufacturing business, keep in mind the supply and demand you will face. Your company should also appeal to direct investors. When you decide which products to create, consider that some products may end up costing more than they can be sold for. For instance, biohazard materials and hazardous waste are costly to clean up and can cause workers to become exposed to dangerous materials. This can cost you more in healthcare and insurance.
For more information on manufacturing, visit the links on Business.com.