Aron Govil – Difference Between a Manufacturing Business and a Retail Business

A manufacturing company takes raw materials and turns them into finished products. A retail/wholesale business buys finished goods from manufacturers, adds value to their own work, and then resells them to individual customers. Aron Govil –

Aron Govil Describe the difference between an employee and an independent contractor

An employee is a person who works for a company, full time, and receives a W-2 at the end of the year. An independent contractor is someone who supplies labor (or a portion thereof) to many different businesses. As such, they receive 1099s instead of W-2s at the end of the year.

Describe the difference between an office and a warehouse/manufacturing facility

An office is where company officials go to handle administrative tasks such as talking on the phone, sending emails, etc. A warehouse (or manufacturing plant) is where the actual work takes place and where products are made or prepared for shipment.

Aron Govil Explain how a product becomes a retail product once it has been manufactured

A product becomes a retail product once it has been manufactured and packaged for sale in retail stores. It will have been passed from business to business, starting with manufacturers producing batches of goods for individual buyers, then wholesalers buying those goods from manufacturers and reselling them to retailers before finally being purchased by customers. individual in retail stores.

A retail store purchases a finished product from a wholesale company, which purchases it from a manufacturing plant. A manufacturing plant creates the finished product by turning raw materials into a product using equipment and labor, usually in a warehouse-like building with industrial machinery. A manufacturing company manufactures products for resale by retailers or other companies, while a retail/wholesale company only resells products that it purchases from manufacturers. An office is where employees of an organization perform administrative tasks such as sending emails and talking on the phone while a warehouse is where goods are stored before being loaded onto trucks or ships for transport to another place of sale or use. Employees receive W-2s once they’ve been hired by a company for full-time work, while independent contractors receive 1099s after completing work for multiple companies.

How can a product be re-manufactured?

A product can be remanufactured by disassembling the product and recycling its separate components. For example, cell phones are often remanufactured by taking them apart to remove precious metals like gold, silver, platinum and palladium which are then sold on the market. These precious metals can also be found in circuit boards, motors, speakers and batteries etc. which are usually also recycled separately. A product that has been remanufactured will usually have exposed metal or exposed wiring that appears damaged or worn because it cannot be reassembled in the original packaging designed to keep it intact.

What is remanufacturing?

Remanufacturing is the process of taking a product that has been used (or broken) and reassembling it to look like new. Things like old appliances, furniture, cell phones, cars, etc. can be re-manufactured for resale by companies called refurbishers. A refurbished will often remove parts or components from an item to sell separately before reassembling the remaining part(s) to make it look like new. Items can also be repaired before being sold instead of being disassembled for scrap and other components. Remanufacturers are also sometimes referred to as “recycling centers”, especially if they focus on recycling products rather than refurbishing them.

A manufacturing plant manufactures products for sale to other businesses or retailers, while retail/wholesale businesses only buy and resell products that they have purchased from manufacturers. An office is where employees of an organization perform administrative tasks such as sending emails and talking on the phone while a warehouse is where goods are stored before being loaded onto trucks or ships for transport to another place of sale or use. Employees receive W-2s once they’ve been hired by a company for full-time work, while independent contractors receive 1099s after completing work for multiple companies.

Conclusion:

Manufacturing and retail/wholesale companies produce and sell finished products while a manufacturing plant produces and sells unfinished products. An office is where employees of an organization perform administrative tasks such as sending emails and talking on the phone while a warehouse is where goods are stored before being loaded onto trucks or ships for transport to another place of sale or use. Employees receive W-2s once they’ve been hired by a company for full-time work, while independent contractors receive 1099s after completing work for multiple companies.

Anne G. Cash