Expansion of Manufacturing Industry

Manufacturing Industry is the backbone of any set-up that creates products of need and utility. Not only survival but also growth and expansion of industries, largely, depends on manufacturing sector. We have discussed about the technicalities of the ribbon blender mixers that are used in various industries across the globe in our previous articles.

The economic downfall or up rise does affect different sectors. Yet, the modern basic necessities of the world, dependent on the manufacturing sector, become the reason why this sector even after witnessing a downfall will have opportunities of rise.

Let us discuss about how the expansion of this sector works and its effects on the related or dependent sectors.

Manufacturers of various machines, equipment, etc. are changing their strategies to expand their businesses and grow. Industry trends have changed in a span of last 50 years, out of which last 20 years being the years of advancement in need, demand, technology and possible supply due to technology and advancement.

Manufacturers, majorly, take the following steps to give a boost to their businesses along various horizons:

·         The range of products that they offer are reconsidered and necessary changes are made so as to gain more customers & also be able to turn the potential customers into the actual ones 

o   Example: A bakery providing local produce extends its range of products by using imported cacao beans 

·         They enter new sectors, most of the times dependent or related sectors. This may be a forward integration or a backward one 

o   Example: A multi brand retail store starts selling its own produce (Backward Integration) or providing the packing of products (Forward Integration) 

·         They enter new markets, thus, reaching more segments of customers or wider geographic areas

o   Example: A fashion store for men starts selling womenswear

o   Example: A company opens its stores in more locations across a region

·         They change the services they provide 

o   Example: A Manufacturer of Ribbon Blender Mixer in Pune providing after sales services to their customers in Nashik with the help of a Supplier of Ribbon Blender Mixer in Nashik

Above are the major changes that manufacturers make in order to expand their operations. In the coming article, we shall discuss about the effects of expansion of manufacturingindustry on related industries.

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