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What is a reference to a business that changes basic inputs into products?
manufacturing business
What is the difference between manufacturing and production?
Production is the process of converting inputs into outputs through various operations. All the operations which demands consumption of resources together known as manufacturing. Both the terms are used interchangeably yet both are different axioms. The difference is in the raw material. In production, the raw material is not procured from outside, the company owns it and after processing and make the final product. But in Manufacturing, the company procures the raw material from outside, and then makes the final product. manufacturing is a process of converting raw material in to finished product by using various processes,machines and energy.it is a narrow term. production is a process of converting inputs in to outputs.it is a broder term. every type of manufacturing can be production, but every production is not a manufacturing. exa- making of a turbine by various processes is manufacturing assemble the various parts to make an engine is production not manufacturing. Manufacturing isn't just when producing the product, it includes other stages such as design, sales, management and marketing
Is company stocks a factor of production?
No, company stocks represent ownership in a firm, usually, and are not inputs in production.
What is an example of manufacture?
manufacturing is making some useful products from some inputs. making of soap from vegetable oil is an example of manufacturing.making of iron window grill from iron rods/bars is a manufacturing process
What are the other inputs in the process of the manufacturing process of the manufacturing process of the cost?
Lots of things go into the rising transportation costs of the agricultural industry, including rising prices of oil and increased competition in the field.
What is the technical core of an organization?
The technical core actually produces what the business or company is about, it is responsible for transforming the inputs into outputs . It is the production part of the organization where the manufacturing takes place. In the case of a school or university the teachers of the school would make up the technical core.
What is material?
Materials are physical substances used as inputs to production or manufacturing.
What is the difference between manufacturing and service organization supply chain?
The end goal of any company is a satisfied customer. The process of locating, obtaining and transporting the inputs needed to do this is the core function of supply chain management. Supply chain design in the manufacturing industry requires a great deal of focus on physical product and a broader supplier base, while service firms typically have little need for physical inputs other than office supplies, and often work with a much smaller group of suppliers.
What are production records?
Production records are the collection of data regarding the inputs and processes used to create or grow a product.
What are the other inputs in the process of manufacturing that involve transportation costs?
There are a few aspects of manufacturing that require transportation costs to be paid. One such aspect is receiving materials to manufacture a product with. Another reason transportation costs would be involved is when the products are being sold.
What are the inputs of TQM?
inputs of TQM
How can a firm use the Cobb-Douglas production function to maximize profits in a real-world example?
A firm can use the Cobb-Douglas production function to maximize profits by determining the optimal combination of inputs, such as labor and capital, to achieve the highest level of output at the lowest cost. For example, a manufacturing company can use the Cobb-Douglas function to analyze how changes in labor and capital inputs affect production levels and costs, allowing them to make informed decisions on resource allocation to maximize profits.
