Classifying Business Goods & Services

Foundation Goods Installations

Major long-term investment items Buildings, land, fixed equipment, etc. Determine the scale of operation

Accessory Equipment
Less expensive & short-lived Not considered part of fixed plant Portable tools, PCs, Materials handling equipment, etc.

Classifying Business Goods & Services

Entering Goods Raw Materials
Farm products & natural products Only processed as necessary for handling & transport Require extensive processing Examples Goods found in the natural state: Minerals, ores, products of the forests and the seas. Agricultural products: Cotton, fruits, eggs, raw milk, animal products, livestock.

Classifying Business Goods & Services Entering Goods Manufactured Materials & Parts
Any product that has undergone extensive processing prior to purchase Component Materials require additional processing E.g. Yarn ( Cotton Yarn Cloth ) Component Parts generally do not require additional processing E.g. Cycle bell, Button in a shirt.

Classifying Business Goods & Services

Facilitating Products Supplies

Any supplies necessary to maintain the organizations operations Ex: Cleaning materials, Stationery items

Services
Maintenance & Repair support Advertising agency services Advisory support Logistical support

Types of Industrial Products

Major Equipment Accessory Equipment Raw Materials

Component Parts
Processed Materials

Supplies
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Business Services

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