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Industry classification. Industry classification or industry taxonomy is a type of economic taxonomy that classifies companies, organizations and traders into industrial groupings based on similar production processes, similar products, or similar behavior in financial markets. National and international statistical agencies use various ...
Manufacturing provides important material support for national infrastructure and also for national defense. On the other hand, most manufacturing processes may involve significant social and environmental costs. The clean-up costs of hazardous waste, for example, may outweigh the benefits of a product that creates it.
The following is a list of the world's largest manufacturing companies, ordered by revenue in millions of U.S. dollars according to the Fortune Global 500. Currently the 50 biggest companies by revenue are included.
An original equipment manufacturer (OEM) is generally perceived as a company that produces parts and equipment that may be marketed by another manufacturer. The term is also used in several other ways, which causes ambiguity. It sometimes means the maker of a system that includes other companies' subsystems, an end-product producer, an ...
In process manufacturing, the formula for making the product and the recipe for packaging the product exist in separate structures to reduce the ongoing maintenance function. There is a difference between discrete manufacturing and process manufacturing in terms of flow patterns. An example given is that discrete manufacturing follows an "A ...
Machine industry. Lean manufacturing is a method of manufacturing goods aimed primarily at reducing times within the production system as well as response times from suppliers and customers. It is closely related to another concept called just-in-time manufacturing (JIT manufacturing in short).
A contract manufacturer (CM) is a manufacturer that contracts with a firm for components or products (in which case it is a turnkey supplier). It is a form of outsourcing. A contract manufacturer performing packaging operations is called copacker or a contract packager. Brand name companies focus on product innovation, design and sales, while ...
A conglomerate (/ k ə ŋ ˈ ɡ l ɒ m ə r ə t /) is a type of multi-industry company that consists of several different and unrelated business entities that operate in various industries. A conglomerate usually has a parent company that owns and controls many subsidiaries , which are legally independent but financially and strategically ...
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