Manufacturing is very important anywhere in the world because this is one activity which produces goods. Manufacturing has a long history in all the parts of the world. Most of the manufacturing activities happen in large factories and artisanal kinds of production are called craft-making rather than manufacturing. During the time of the industrial revolution the manufacturing of goods shifted from the cottage industries into large industries. The mechanisation of the industries happened and the production of goods went up in leaps and bounds. Manufacturing industries flourished in the 20th century in the western world and in the late 19th century the manufacturing industries left western countries to cheaper wages countries like China.
Building of infrastructure like roads for producing and distributing water and power is also part of manufacturing. Many of the countries in the world started manufacturing during the industrial revolution and most of countries that were depended on agriculture started manufacturing products. The countries which started manufacturing different kinds of products started prospering and many followed their footsteps. Manufacturing industries is one of the best sources of jobs and has a part to play in the wealth of a nation. Exporting the products manufactured brings in more money which results in greater wealth.
Manufacturing help in the development of new technologies and manufacturing units helps in the private sector research and development. Many countries which have shifted from the manufacturing industries to service industries had to face negative effect on the economy. The manufacturing industries have many positive additional benefits. Growth of manufacturing industry happens in the low-wage countries like the BRICK countries, namely Brazil, Russia, India, China and Korea. Manufacturing industry is also doing well in countries like Thailand, Poland and Mexico also. Whichever the place is, the rebound of manufacturing is very important because it is the sign of renewed strength.
Apart from this manufacturing offer jobs which are considered as good and secured jobs because the workers get good benefits from the employers. The chances of the workers quitting the job are less in manufacturing industries than in other kinds of jobs. There is always demand for the finished products produced by the manufacturing companies throughout the world. This is one of the main reasons why new manufacturing companies are launched on a regular basis. One of the main problems of starting a manufacturing business is the overhead cost associated with it. Successful manufacturing companies depend upon the competent business model but the demand is growing every day.
There is demand for whatever product you manufacture as long as the product is not outmoded and facilities for manufacturing are flexible. Even though manufacturing industry is tough business it can also become gratifying one. This is because a manufacturer is not producing a service or an experience but an item or product. This gives complete satisfaction for the owner of the company because he or she is making something that people use and value. It also satisfies the craftsman who has worked on the production of the product.