Compare the manufacturing, merchandising, and service sectors. How do they differ as to the kinds of businesses in each category, the nature of their output, and type of inventory, if any?

Goods
The output of a service firm, such as consultancy, training or maintenance,
for example, is intangible. Manufacturers produce physical goods that
customers can see and touch. merchandisers sells the products
manufactured by the manufacturers. Merchandisers include both
wholesalers and retailers

Inventory
Manufacturers have three classifications of inventory: raw materials, work
in process and finished goods. Manufacturers produce goods for stock,
with inventory levels aligned to forecasts of market demand.
Contrastingly, merchandisers do not maintain but one of these three, that
is finished goods
Service firms, unlike manufacturers, do not hold inventory; they create a
service when a client requires it.

Customers
Manufacturers can produce goods without a customer order or forecast of
customer demand. However, producing goods that do not meet market
needs is a poor strategy.
Merchandisers buy products according the need of the customers.
However , they also check for new customers in order to increase their
market share.
Service firms do not produce a service unless...