MANAGEMENT

Detailed explanation-1: -This process, which converts raw materials into finished goods, is called manufacturing.

Detailed explanation-2: -A manufacturer is a person or company that produces finished goods from raw materials by using various tools, equipment, and processes, and then sells the goods to consumers, wholesalers, distributors, retailers, or to other manufacturers for the production of more complex goods.

Detailed explanation-3: -A manufacturer is someone who makes products in a factory like cars, boats, bikes, computers etc. A producer is someone who makes products NOT in a factory like food. Producers also make TV shows, movies, radio shows, media.

Detailed explanation-4: -Raw materials are the input goods or inventory that a company needs to manufacture its products. Examples of raw materials include steel, oil, corn, grain, gasoline, lumber, forest resources, plastic, natural gas, coal, and minerals.

Detailed explanation-5: -Production is the process of making or manufacturing goods and products from raw materials or components. In other words, production takes inputs and uses them to create an output which is fit for consumption – a good or product which has value to an end-user or customer.