Manufacturers in the context of "Wear and tear"

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⭐ Core Definition: Manufacturers

Manufacturing is the creation or production of goods with the help of equipment, labor, machines, tools, and chemical or biological processing or formulation. It is the essence of the secondary sector of the economy. The term may refer to a range of human activity, from handicraft to high-tech, but it is most commonly applied to industrial design, in which raw materials from the primary sector are transformed into finished goods on a large scale. Such goods may be sold to other manufacturers for the production of other more complex products (such as aircraft, household appliances, furniture, sports equipment or automobiles), or distributed via the tertiary industry to end users and consumers (usually through wholesalers, who in turn sell to retailers, who then sell them to individual customers).

Manufacturing engineering is the field of engineering that designs and optimizes the manufacturing process, or the steps through which raw materials are transformed into a final product. The manufacturing process begins with product design, and materials specification. These materials are then modified through manufacturing to become the desired product.

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👉 Manufacturers in the context of Wear and tear

Wear and tear is damage that naturally and inevitably occurs as a result of normal wear or aging. It is used in a legal context for such areas as warranty contracts from manufacturers, which usually stipulate that damage from wear and tear will not be covered.

Wear and tear is a form of depreciation, which is assumed to occur even when an item is used competently and with care and proper maintenance. For example, repeated impacts may cause stress to a hammer's head. This stress is impossible to prevent in the normal use of the tool for its designed task, and any attempt to avert it impedes its functionality. At the same time, it is expected that the normal use of a hammer will not break it beyond repair during a reasonable life cycle.

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Manufacturers in the context of Gerontechnology

Gerontechnology, also called gerotechnology is an inter- and multidisciplinary academic as well as a professional field that combines various disciplines of gerontology and technology. Sustainability of an aging society depends on our effectiveness in creating technological environments, including assistive technology and inclusive design, for innovative and independent living and social participation of older adults in any state of health, comfort as well as safety. In short, gerontechnology concerns matching technological environments to health, housing, mobility, communication, leisure, work and also the personality/individual dispositions of older people. Gerontechnology is most frequently identified as a subset of HealthTech and is—since the 2010s—more commonly referred to as AgeTech or Agetech in Europe and the United States. Research outcomes form the basis for designers, builders, engineers, manufacturers, and those in the health professions (nursing, medicine, gerontology, geriatrics, environmental psychology, developmental psychology, etc.), to provide an optimum living environment for the widest range of ages.

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Manufacturers in the context of Medicare Part D

Medicare Part D, also called the Medicare prescription drug benefit, is an optional United States federal-government program to help Medicare beneficiaries pay for self-administered prescription drugs. Part D was enacted as part of the Medicare Modernization Act of 2003 and went into effect on January 1, 2006. Under the program, drug benefits are provided by private insurance plans that receive premiums from both enrollees and the government. Part D plans typically pay most of the cost for prescriptions filled by their enrollees. However, plans are later reimbursed for much of this cost through rebates paid by manufacturers and pharmacies.

Part D enrollees cover a portion of their own drug expenses by paying cost-sharing. The amount of cost-sharing an enrollee pays depends on the retail cost of the filled drug, the rules of their plan, and whether they are eligible for additional Federal income-based subsidies. Prior to 2010, enrollees were required to pay 100% of their retail drug costs during the coverage gap phase, commonly referred to as the "doughnut hole.” Subsequent legislation, including the Affordable Care Act, “closed” the doughnut hole from the perspective of beneficiaries, largely through the creation of a manufacturer discount program.

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