Finance + Materials People + Facilities = Manufactured Goods Finance + Materials People + Facilities = Manufactured Goods

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Manufacturing Resources Manufacturing begins with an idea, a product that can be made for profit Manufacturing begins with an idea, a product that can be made for profit Once a product is decided, a company begins Once a product is decided, a company begins There are 4 major resources to have in a company: There are 4 major resources to have in a company: Finance Finance Materials Materials People People Facilities Facilities

Finance The following are costs in a company: The following are costs in a company: It cost money to design, build, and operate a system. It cost money to design, build, and operate a system. People must be paid for labor People must be paid for labor Materials and machines have to be purchased Materials and machines have to be purchased Owners expect a return on the investment Owners expect a return on the investment Taxes must be paid Taxes must be paid

Materials All technological systems use materials such as: All technological systems use materials such as: Gases – used to weld materials together Gases – used to weld materials together Liquids – lubricate machines Liquids – lubricate machines Solids – provide the structure or product Solids – provide the structure or product The might be used to support the operation of the system or might become part of the output The might be used to support the operation of the system or might become part of the output Technological systems can change the form of materials: Technological systems can change the form of materials: for example iron ore, coke and limestone are changed into pig iron. Pig iron is made into steel and rolled into sheets that can be used for refrigerators, automobiles, and filing cabinets for example iron ore, coke and limestone are changed into pig iron. Pig iron is made into steel and rolled into sheets that can be used for refrigerators, automobiles, and filing cabinets

People There is a need for many different kinds of people including: There is a need for many different kinds of people including: Mechanical people with skills to operate the tools and machines Mechanical people with skills to operate the tools and machines Engineering, design, and creative skilled people are needed to design products Engineering, design, and creative skilled people are needed to design products Interpersonal skills are needed to manage the human aspects Interpersonal skills are needed to manage the human aspects Logical or critical thinking is needed to schedule activities and to solve problems Logical or critical thinking is needed to schedule activities and to solve problems Many of these people continue after high school to a technical or 4 year college to earn training in a specific area. Many of these people continue after high school to a technical or 4 year college to earn training in a specific area.

Facilities Facilities are needed for any company to operate Facilities are needed for any company to operate The facility might be a workshop or factory The facility might be a workshop or factory

1. Which of the following identifies the four resources of production? A. People, time, facilities, and feedback B. People, processes, facilities, and capital C. People, materials, finance, facilities D. People, finance, feedback, capital