This term includes use of machines, workforce or tools in order to produce goods. The goods are meant for usage or sale. Manufacturing can be done on a small-scale which includes cottage industries; handicraft industries etc. and it can be done on a large scale too. Large-scale industries include high-tech industries which require lots of capital investment and workforce. Manufacturing process basically transforms raw materials into finished goods on a large scale. Modern manufacturing includes all the intermediate processes required for production and integration of the products components. Some industries like steel and semiconductor industries use the term “fabrication” instead.
Paul Hoffman had once remarked, “Among the reasons for this was the fact that the U.S.A. is one mass market. It is only when you have a mass market that large-scale manufacturing which involves very substantial expenditures can be justified.” Manufacturing is closely related to the engineering and industrial sector. Major manufacturers in Asia include Toyota, Bridgestone and Samsung.