chapter two.pdf - Chapter 2 Manufacturing Industries Services and Products Production Planning and Control-I By Seife Ebeyedengel 1 Learning Objectives

chapter two.pdf - Chapter 2 Manufacturing Industries...

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Chapter 2- Manufacturing Industries, Services and Products Production Planning and Control-I By Seife Ebeyedengel 1
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Learning Objectives Understand the types of manufacturing industries and products Understand Limitations and Capabilities of Manufacturing plants 2
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Manufacturing Defined - Technological Definition Application of physical and chemical processes to alter the geometry, properties, and/or appearance of a given starting material to make parts or products Manufacturing also includes the joining of multiple parts to make assembled products Accomplished by a combination of machinery, tools, power, and manual labor. Almost always carried out as a sequence of operations 3
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Manufacturing Defined - Technological Definition 4
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Manufacturing Defined - Economic Definition Transformation of materials into items of greater value by means of one or more processing and/or assembly operations Manufacturing adds value to the material Examples: Converting iron ore to steel adds value Transforming sand into glass adds value Refining petroleum into plastic adds value 5
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Manufacturing Defined - Economic Definition 6
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Classification of Industries Manufacturing is an important economic activity, carried out by companies that sell products to customers. The type of manufacturing performed by a company depends on the kinds of products it makes. Industry consists of enterprises and organizations that produce and/or supply goods and/or services. 7
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Cont’d… Economic activity may be classified into various categories, according to purpose. When considering business ownership the classifications public & private are typically used. Also classified according to what type of economic good is produced. (primary, secondary, tertiary, quaternary) 8
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Business Ownership: Private Sector Usually composed of organizations that are privately owned and not part of the government.
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