Industrial or business goods refer to products that are used
to produce other goods and services. They are essential for the smooth
functioning of a business and play a crucial role in the manufacturing process.
Types of Industrial or Business Goods:
- Raw
Materials: Raw materials are the basic inputs used in the production of
goods and services. They are the starting point of the production process
and are usually unprocessed or minimally processed.
- Fabricating
Materials and Parts: These are materials used in the production process
that are not finished goods but are used in the production of finished
goods. They are semi-finished products and include materials like steel,
aluminum, and plastic.
- Installations:
Installations refer to long-term investments in physical structures,
machinery, and equipment that are used in the production process.
- Accessory
Equipment: Accessory equipment refers to equipment that is used to support
the production process. They are smaller and less expensive than
installations and include equipment like hand tools and small machinery.
- Operating
Supplies: Operating supplies are the materials used in the production
process that are consumed or used up in a short period of time. They
include materials like lubricants, fuels, and cleaning supplies.
In conclusion, industrial or business goods play a critical
role in the production process and are essential for the smooth functioning of
a business. A clear understanding of the different types of industrial goods
and their features can help businesses to make informed decisions about the
goods they require for their operations.
