Factory system (industrial revolution)

In this PPT i have tried to give a brief introduction about "FACTORY SYSTEM" which had taken place due to industrial revolution.

1. FACTORY SYSTEM ( INDUSTRIAL REVOLUTION) By- Manisha Srivastava Assistant Professor

2. PRE-MACHINE AGE The stages in the evolution of commerce & industry prior to industrial revolution.

3. FEATURES OF PRE-MACHINE AGE Production was by manual labor on relatively small scale. Production was restricted for the local market only. Distribution of goods was controlled by “ MERCHANT GUILD (association of merchant)”. There was no competition in the market. Agriculture was the major economic occupation of the masses. (80% population lived in rural areas) The Farm Technology was quite simple. No FOREIGN TRADE (trade was local in character because of lack of efficient means of transport.

4. THE FACTORY SYSTEM Since the industrial revolution may changes have taken place in the industrial system. The present age is an era of large scale production. Many big factories have come into existence & they employ a large number of workers.

5. Characteristics OF FACTORY SYSTEM LARGE SCALE PRODUCTION to meet the demands of large number of people. Production is carried on in anticipation of demand. MECHANISATION Increased from the development of science & technology. Through new innovation increased the efficiency of factories.

6. AUTOMATION Installation of one set of machines to run another set of machines. A small number of operators sitting in control room to control the entire operations in factory. It Introduced in production system in advanced countries ( like USA, UK etc) In Oil refineries, Chemical industries & Food processing units…. Etc.

7. MANAGEMENT INFORMATION SYSTEM Introduced MIS with the help of electronic computer system. Computer have vast memories. It can store huge amount of information & make available the required information. It help in taking managerial decisions at the proper time. SPECIALIZATION Division of labor according to specialization. It facilitated the workers to concentrate on limited operations. Increased efficiency of workers.

8. STANDARDIZATION Bring about uniformity of quality & size. Facilitates large scale production. Increased quality consciousness in industry. Today ISO certifications is the example of it. GROWTH OF INDUSTRIAL AREAS Concentration of industries in certain regions of the country. Which offers the advantages to industry. In regards to Raw materials, Power, Market, Financing, transportation.. etc.

9. EXPANSION OF INTERNATIONAL TRADE Improved transportation & communication. Mass scale production. Standardization of products…. etc COMPETITION Cut-Throat competition among producers of goods. Contract basis “Economic Relation” between different persons rather than on customs & traditions.

10. RESEARCH & DEVELPOMENT Establishment of “Research & Development Department” in big industrial enterprises. Spend money for innovating new products & ideas. It effect in Decreasing Cost, Increasing Quality, Consumer Satisfaction & Raising the Living Standard of people.

11. THANK YOU