This document provides an overview of basic manufacturing processes. It defines manufacturing as processing raw materials into finished goods through tools, labor, machinery and chemistry. Manufacturing allows companies to benefit from economies of scale by producing more units at a lower cost per unit. The document outlines several types of manufacturing processes including casting, machining, deformation, consolidation/joining, and material addition. It distinguishes manufacturing from production, noting that production requires consideration of economic factors, while manufacturing does not. Additive manufacturing/3D printing is highlighted as an emerging technology in the industry.
2. What is Manufacturing?
What is economies of scale?
Define Manufacturing?
Types of Manufacturing?
Manufacturing Vs Production
Conclusion
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3. Manufacturing is the processing of raw
materials or parts into finished goods through
the use of tools, human labor, machinery and
chemical processing.
Efficient manufacturing techniques
enable manufacturers to take advantage of
economies of scale, producing more units at a
lower cost.
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1. A vibrant manufacturing base leads to:
More research and development,
Innovation,
Productivity,
Exports, and
Middle-class jobs.
2. Manufacturing helps raise living standards more than any other
sector.
3. Manufacturing generates more economic activity than other sectors.
Why is manufacturing important?
5. To manufacture is defined as to make something from raw
materials by hand or using machines.
An example of to manufacture is to make clothing from cotton
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7. Economies of scale are cost advantages reaped by
companies when production becomes efficient.
Companies can achieve economies of scale by
increasing production and lowering costs. This
happens because costs are spread over a larger
number of goods.
Understanding Economies of Scale
Economies of scale are an important concept for any business in any industry and
represent the cost-savings and competitive advantages larger businesses have over smaller ones.
Most consumers don't understand why a smaller business charges more for a similar product sold
by a larger company. That's because the cost per unit depends on how much the company
produces. Larger companies are able to produce more by spreading the cost of production over a
larger amount of goods. An industry may also be able to dictate the cost of a product if there are
a number of different companies producing similar goods within that industry.
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11. Production is a broader term and is basically conversion of
input to output. It is not only limited to goods but it can be
related to services too.
Let me bring it down to more simpler terms, the basic
difference between production and manufacturing is that in
production economic considerations are mandatory whereas
in manufacturing it is not.
An example mentioned below will let you understand it even better:
Example: India can manufacture aircrafts but in India aircrafts are not produced because
production cost of an aircraft in India is much higher than other nations. So, it's better to buy it
from other nation which has aircraft production unit as it will be much cheaper even after
including import taxes .
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13. The latest buzz word in the manufacturing world today
is the Additive Manufacturing Technology popularly
known in the manufacturing fraternity as 3-D
Printing
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