Producer definition, a person, group, or company that owns or runs a manufacturing plant. 1560s, “one thing made by hand,” from Middle French manufacture, from Medieval Latin manufactura (supply of Italian manifattura, Spanish manufactura), from Latin manu, ablative of manus “hand” (see handbook (adj.)) + factura “a working,” from past participle stem of facere “to perform” (see factitious ). Sense of “course of of manufacturing” first recorded c.1600.
A contract manufacturer (“Co-Man”) is a manufacturer that’s contracted to provide your organization’s product line. It allows manufacturers to make design tweaks mid-run, permitting products to get to market faster. The vote towards the former New Jersey congressman is a setback for the White Home and a victory for giant manufacturers resembling Normal Electric Co. and Boeing Co. that opposed the nomination.
A typical producer’s rep earns a 5-p.c commission on sales, although that quantity varies widely relying on the product, market and sales quantity. Last year, Sig was awarded a $580 million contract to offer as many as 238,000 service pistols to the Army, beating out firearms producers such as Glock, FN America and Beretta USA.
This progress is particularly spectacular because, as acknowledged above, superior manufacturing usually requires fewer employees, so even when these industries are producing and incomes greater than they have within the latest past, they do not necessarily add jobs.
As know-how becomes extra adaptable to market developments, manufacturers can count on to see extra profits from this follow. When a firm must put money into device steel, a particular form of hardened and really robust steel needed to make machines that manufacture merchandise, it prices some huge cash to make a big production run.