If you have a great product idea and you want to be completely charge of making sure it hits the market properly, then you might want to take the production line element of it yourself. Manufacturing products for yourself might take a big initial investment, but it can be a lot more cost-effective in the long run. However, if you’re inexperienced, you better be prepared for some of the ways it might prove a little more treacherous than you imagined.
You’re not prepared for the risk
There’s a lot of risk involved in getting into the production of goods. Legally, you have to make sure that you’re producing goods up to the standard of the industry, and safe to boot. Then, of course, you have the safety of your employees to seriously consider. If you’re not providing the right equipment, the right training, and even the right signage, you could be liable for any accidents that happen on the production line. The risk of lost investment is less serious, but can still bankrupt your business if you’re not careful. You need to start learning about lean manufacture and how to make the whole process more efficient.
You’re not taking your equipment seriously
Indeed, that equipment is probably the most important part of keeping an efficient production line. Failing to do the proper proactive maintenance and keeping an eye out for defects is going to result in a lot of products that are lost and resources wasted due to easily avoidable problems. Even worse is when work stops entirely because of a malfunction. Even with strict maintenance, it can still happen to anyone. For that reason, you need to make sure you have the backup resources, like quick release fittings for hoses or motors for CNC tools, ready to replace any parts that have stopped working. If you’re using new equipment, make sure you check the manual. Most of them are going to list the parts you’re most likely going to need to replace. Otherwise, work will shut down while you wait for the order to come in. In production, that can mean a lot of money lost.
You make your team members indispensable
Skilled workers and operators are just as important to producing goods. When we talk about avoiding making them indispensable, we don’t mean making yourself free to fire just about anyone. Instead, you need to consider the risks of only having one person with a particular skill. What happens if they need a break for medical reasons or look for a different career? Are you just going to let your business halt while you look for a replacement? Teach your team to use the tech that doesn’t have more than one skilled operator ready. Make sure there won’t be any skills gaps if only one person is made unavailable.
If you don’t have the expertise you need, then consider bringing in an advisor who can get you up to speed. Otherwise, you better be prepared to deal with losses through bad inventory, some expensive equipment fixes, and even the legally dangerous costs of employee safety fails.\
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