Glossary
Component
Tags: Glossary
Material that will contribute to a finished product, but is not the finished product itself. Examples would include tires for an automobile, a power supply for a personal computer, or a zipper for a ski parka. Note that what is a component to the manufacturer may be considered the finished product of their supplier.
What is Component?
A component is a crucial element in the process of creating a finished product. It is a material or part that contributes to the final product but is not the finished product itself. Components can vary greatly depending on the industry and the specific product being manufactured.
To better understand the concept of a component, let's consider a few examples. Imagine you are building a car. The tires of the car would be considered components because they are essential for the car to function properly. However, the tires alone do not make up the entire car. Similarly, a power supply is a component of a personal computer, and a zipper is a component of a ski parka.
It is important to note that what may be considered a component to one manufacturer could be considered the finished product by their supplier. For instance, a company that produces car tires may consider the tires as their finished product, while the car manufacturer sees them as components.
Components play a vital role in the logistics of manufacturing. They need to be sourced, transported, and stored efficiently to ensure a smooth production process. Logistics professionals are responsible for managing the flow of components from suppliers to manufacturers, ensuring that the right components are available at the right time and in the right quantity.
In conclusion, a component is a material or part that contributes to the creation of a finished product. It is not the finished product itself but is essential for its functionality. Understanding the role of components is crucial in the field of logistics, as they are integral to the manufacturing process.