Manufacturing Industry and its important components

Products and services are an essential part of our daily life. They fulfill our needs and help other industries or companies to move forward in their business. A Manufacturing industry holds vital importance in everyone’s life by fulfilling our requirements by matching the demand with the supply of products. A Manufacturing industry converts raw materials into a finished product, and end customers can use that as per their requirements. For example, Tata motor takes raw material and converts it into a finished product (automobile) that the end customer uses to move from one place to another quickly.

A Manufacturing industry consists of different components: Manufacturing plant, warehouse, and inventory. Inventory is the starting point for the sector, and the warehouse is the finished part. The raw material is taken into inventory, processed as per the requirement, and sent to the manufacturing plant. Different machines process the raw material as per the requirement, and the finished product comes out of the plant. The finished product is kept in the warehouse before the final dispatch.