The final product’s cost is determined by raw material costs, production costs (labour costs, machinery costs, fuel costs for machines such as Petrol/LPG/Electricity), and waste. Furthermore, a profit percentage will be applied to the selling price in addition to the manufacturing cost.
Wastage can occur in the form of raw materials or finished goods. Wastage of raw materials might occur when, for example, cauliflower needs to be cleaned by removing leaves and stems; this contributes to wastage because it is thrown away and not used. Manufactured products can sometimes be squandered due to leakage, poor quality, or other uncontrollable causes.
Most manufactured things have a Lot number, which allows for the tracking of constituent parts or ingredients, as well as personnel and equipment records involved in the product’s fabrication. This enables manufacturers and other entities to do quality control checks on subsets of their production output and deliver adjustments or recall information. It also provides consumers with an identity that they may use to contact the producer and study the production of the goods they have received.
Expiry dates are applied to food items, pharmaceutical products, cosmetics, and many other manufactured products when the age of the product may effect its safe use. An expiration date, also known as an expiry date, best-before date, or use by date, is a predetermined date after which the product should no longer be utilised.