The start of any new endeavor can be a time of both excitement and challenge. This is especially true with something as multi-faceted as a manufacturing endeavor, given the significant amount of upfront risk involved. Fortunately, if you begin with the correct elements, you will greatly reduce your risk exposure, allowing you to reap the rewards that a successful manufacturing endeavor can bring. To help jumpstart this success, here are a few tips to help you get started with a new manufacturing endeavor.
Find the Right Space
When choosing a space for your new manufacturing endeavor, it can be tempting to choose a space that is only suitable for your current needs. However, even though this will help save on costs in the near-term, it can cause some missed opportunities down the road.
Assuming your endeavor is successful, you will need to scale-up at some point to meet your increasing obligations. At that point, you’ll either be faced with spending a large amount of capital to scale quickly or simply losing business by remaining in your current space. By finding a space that’s larger than you currently need, you’ll set yourself up for success both now and in the future.
Know Your Suppliers
A successful manufacturing endeavor depends on a steady stream of supplies from trustworthy and reliable suppliers. Therefore, as you begin production, it is crucial that you know your suppliers so that you can reach out to them if there is a disruption for some reason. Building strong bonds with everyone from your paper towel supplier to the supplier providing polyurethane casting materials will help ensure that you’re never slowed down due to a lack of supplies.
Settle the Logistics
Once your items have been manufactured, you want to be sure that they arrive in customers’ hands as quickly as possible. It’s important, then, that you work to settle your logistics before the first item rolls off the manufacturing line. Decide whether you will use your own vehicles, independent truckers, or an established shipping company, knowing that sometimes the best answer is to use a mix of these three options. With fast shipping an expected part of successful businesses, this is one area that you can’t afford to overlook.
Any type of manufacturing involves inherent health and safety risks. The key to becoming successful is to mitigate these risks as much as possible before you begin production. This includes having proper training in place, scheduling recommended inspections in advance, and providing cleaning materials to account for the spread of possible pathogens among your employees. Workers want to know that they’re valued, and one of the best ways to do that is to demonstrate your company’s commitment to safety right from the start. Before you take a step forward with your manufacturing endeavor, it’s always important to do research to ensure that the next step will be as successful as possible. Whether it’s market research to determine your competitors, cost analysis to determine your viability, or simply surveying other local manufacturers to get a feel for the market, all types of research is important in helping you succeed. By taking the time to do the research, you will create a strong foundation on which to build a successful manufacturing.
Anica is a professional content and copywriter who graduated from the University of San Francisco. She loves dogs, the ocean, and anything outdoor-related. You can connect with Anica on Twitter @AnicaOaks.