Manufacturing technology offers tools that are employed in the pursuit of obtaining new products from raw materials through an industrial process. These tools ease the work of an expertise in turning raw resources into finished products to be readily available to the consumer. Manufacturing technology has integrated machines tools and other equipments that are essential to make manufacturing process possible and efficient. This technology has embraced computer technology that has gone as far as incorporating robotics.
A typical manufacturing industry sole responsibility is to create a new product from raw materials. They also add value to a product. They are responsible in the large-scale manufacture of goods. These industries are responsible for the growth of an economy and offer a great slot of employment opportunity.
Manufacturing jobs are abundant and they have raised the standards of living of those employed in the manufacturing industries. Existence of these industries has translated to economic growth. innovation has been achieved through manufacturing technology since modern communication, transportation, superior agricultural production, medical advancement among other aspects have been enhanced as a result of industrial revolution. Manufacturing jobs though known for nice rewards, most of the employees are employed on contractual capacities. These contract jobs subject employees to job insecurity.
A manufacturing industry is normally constructed in close immediacy to the source of raw materials. Existence of improved transport and communications network is as a result of these industries. This is to open up the remote places where these raw materials are found and to enhance accessibility. When there is trade surplus, more money is generally received more money than it is spent, which results in greater wealth thus boosting the economy
Contract manufacturing is the manufacture of goods by one industry, under the label of another industry. It involves a mutual agreement of manufacturing industries to undertake manufacturing on behalf of their customers. This agreement is usually between two industries where manufacturing contractors provide such service to several industries according to their specifications. Contract manufacturing partners unites the crucial requirement to manufacture an end product that is more superior to the sum of its parts.