Aron Govil Describe the Difference between a Manufacturing Company and a Retail/Wholesale Company

Aron Govil

A manufacturing company takes raw materials and turns them into finished goods. A retail/wholesale company buys finished goods from manufacturers, adds the value of their own labor, and then sells them to individual customers. Aron Govil-

Aron Govil Describe the Difference between an Employee and an Independent Contractor

An employee is someone who works for one company, full-time, and receives a W-2 at the end of the year. An independent contractor is someone who provides labor (or part of it) to many different companies. 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 like talking on the phone, sending emails, etc. A warehouse (or manufacturing facility) is where actual work happens and 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’s been manufactured and packaged for sale in retail stores. It will have been passed from business to business, starting with manufacturers that produce batches of goods meant for individual buyers, then wholesalers that buy these goods from manufacturers and sell them to retailers before finally being purchased by individual customers at retail stores. 

A retail store purchases a finished product from a wholesale company that buys it from a manufacturing facility. A manufacturing facility creates the finished product by turning raw materials into a product using equipment and labor, usually in a warehouse-type building with industrial machinery. A manufacturing company makes products for retailers or other companies to resell, while a retail/wholesale company only resells products they purchase from manufacturers. An office is where employees of an organization work on administrative tasks like 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 location for sale or use. Employees receive W-2s once they’ve been hired by one company for full-time work, while independent contractors receive 1099s after completing jobs for multiple companies.

How Can a Product Be Re-manufactured?

A product can be re-manufactured by taking apart the product and recycling its separate components. For example, cell phones are often re-manufactured by taking them apart to remove valuable 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 typically recycled separately as well. A product that has been re-manufactured will typically have exposed metal or exposed wiring that looks damaged or worn out since it cannot be reassembled into the original packaging designed to keep it intact.

What Is Re-manufacturing?

Re-manufacturing is the process of taking a product that has been used (or broken) and putting it back together to make it look like new. Things like old appliances, furniture, cell phones, cars, etc., can be re-manufactured for resale by companies called refurbishes. A refurbished will often remove parts or components from an item to sell them separately before putting the remaining piece (or pieces) back together again to make it look like new. The items may also be repaired prior to being sold instead of taken apart for scrap metal and other components. Re-manufacturers are also sometimes called “recycling centers”, especially if they focus on recycling products rather than refurbishing them.

A manufacturing facility manufactures products to sell to other companies or retailers, while retail/wholesale companies only buy and resell products they’ve purchased from manufacturers. An office is where employees of an organization work on administrative tasks like 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 location for sale or use. Employees receive W-2s once they’ve been hired by one company for full-time work, while independent contractors receive 1099s after completing jobs for multiple companies. 

Conclusion:

Manufacturing and retail/wholesale companies produce and sell finished products, while a manufacturing facility manufactures and sells unfinished products. An office is where employees of an organization work on administrative tasks like 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 location for sale or use. Employees receive W-2s once they’ve been hired by one company for full-time work, while independent contractors receive 1099s after completing jobs for multiple companies.