Electronic Product Manufacturing
The electronic product manufacturing is one of the significant sectors of the economy. Not only because it produces gadgets and other things that makes our lives easier but also it contributes a lot for the advancement in technology.
Likewise, it also provides convenience to both businesses and homes.
Nature of the Electronic Manufacturing Industry
The electronic product manufacturing sector is the establishments that manufacture communication equipment, computers and its peripherals as well as other electronic products. Due to the rapid advancement in technology, this sector becomes significant to the economy in the future. The process of manufacturing electronic products is different from the process of manufacturing other equipment and machinery. This is because the electronic product manufacturing industry uses sensitive circuits and elements in producing electronic products. In like manner, the work force needed in this sector is smaller as compared to other manufacturing industries. The work force of this industry is composed of engineers, technicians as well as other technical workers who have the ability to perform broad research and development. On the other hand, it drives the industry’s production because of the technological innovation.
Manufacturing electronic products also uses intermediate components manufactured by other producers. That is why usually electronic companies and other manufacturing company are located near each other in order to lower the inventory costs of both companies. The industry is divided into small firms that tackle different manufacturing products. Some companies deal with research and development while other deals with manufacturing components of the electronic products like computer chips and many others. Electronic products are quite sophisticated yet it enables small company to produce various electronics products even with small investment. Likewise, it is also easy to find for investors who are willing to invest their money with new companies in the industry.
The electronic product manufacturing industry has various segments and classified according to the products they manufactured and sell. One of the segments is the peripheral and computer manufacturing that is involve in making computers and other related products and peripherals. However, some of the products used in manufacturing computers are supplied by other companies. Other segments of the manufacturing industry include communication equipment manufacturing, audio and video equipment, semiconductor as well as navigational and control instruments manufacturing.
Moreover, the innovation in the electronic industry creates higher demand in the industry to produce products and applications. That is why they give emphasis on research and development as compared to other manufacturing operations. Likewise, due to the globalization many electronic product manufacturing industry are designed in other countries and shipped to other countries. On the other hand, the electronic product manufacturing industry also offers big chance of employment especially for those who have the knowledge and skills to carry out the job well. Therefore, it does not only give big share in the economy but also in the employment growth.
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