Manufacturing is the use of machines, tools and labor to make things for use
or sale. Also it can be used for selling things. The term may refer to a range
of human activity, from handicraft to high tech, but is most commonly applied to
industrial production, in which raw materials are transformed into finished
goods on a large scale. Such finished goods may be used for manufacturing other,
more complex products, such as household appliances or automobiles, or sold to
wholesalers, who in turn sell them to retailers, who then sell them to end users
- the "consumers".
Manufacturing takes turns under all types of economic systems. In a free market
economy, manufacturing is usually directed toward the mass production of
products for sale to consumers at a profit. In a collectivist economy,
manufacturing is more frequently directed by the state to supply a centrally
planned economy. In free market economies, manufacturing occurs under some
degree of government regulation.
Modern manufacturing includes all intermediate processes required for the
production and integration of a product's components. Some industries, such as
semiconductor and steel manufacturers use the term fabrication instead.
The manufacturing sector is closely connected with engineering and industrial
design. Examples of major manufacturers in the North America include General
Motors Corporation, General Electric, and Pfizer. Examples in Europe include
Volkswagen Group, Siemens, and Michelin. Examples in Asia include Toyota,
Samsung, and Bridgestone
.