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Manufacturing engineering is the field of engineering that designs and optimizes the manufacturing process, or the steps through which raw materials are transformed into a final product. The manufacturing process begins with product design , and materials specification .
Manufacturing output recovered from the Great Recession, reaching an all-time high in 2021, but manufacturing employment has been declining since the 1990s, giving rise to what is known as a "jobless recovery," which made job creation or preservation in the manufacturing sector an important topic in the 2016 United States presidential election.
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.
The process of the idea genesis can be made internally or come from outside inputs, e.g. a supplier offering a new material/technology or from a customer with an unusual request. The fourth element is the idea selection. Its purpose is to choose whether to pursue an idea by analyzing its potential business value.
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).
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