The Economy of Precision: The Role of Small-Scale Manufacturing in Innovative Industrial Development

Citation: Aleksandr Drozdov, "The Economy of Precision: The Role of Small-Scale Manufacturing in Innovative Industrial Development", Universal Library of Business and Economics, Volume 02, Issue 02.

Copyright: This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

Abstract

The article analyzes the strategic role of small manufacturing enterprises in the context of modern industrial transformation. The features of the economy of precision, which unites digital technologies, engineering competencies, and high-quality craft production, are considered. It is shown that small enterprises are becoming key elements of the innovation ecosystem and form a sustainable model of Industry 4.0, where flexibility and customization determine competitiveness.

Keywords: Precision Economy, Small-Scale Manufacturing, Innovation, Digitalization, Industry 4.0, Customization, Sustainable Development, Engineering Economy.

https://doi.org/10.70315/uloap.ulbec.2025.0202014