Manufacturing is simultaneously the most complex and most important element of a product’s life cycle. As a businessperson, navigating the manufacturing environment is absolutely essential. Here are four things every business person should consider about manufacturing in order to create and sustain a successful company.
In-house vs. Outsourced Manufacturing
The first decision you’ll need to make when it comes to manufacturing is whether you plan to make your product in-house or have it made by a specialty manufacturer elsewhere. In-house manufacturing gives you essentially complete control over the manufacturing process but will require a much larger initial investment. Outsourcing your manufacturing is great from a cost control perspective, but you’ll be at the mercy of another company in terms of lead times and logistics. In many cases, businesses choose to outsource early on, then take on internal manufacturing as they grow.
Material Choices
From prototyping to finished product creation, material choice is important at every stage of the product development process. In manufacturing, you’ll need to choose the materials that best meet the needs of your products at the lowest price points. Once you decide on the materials you’ll be using, it’s also crucial to get quotes from multiple suppliers to ensure you’re getting the best price. If your product relies on polyurethane resin casting, for example, you’d want to check with more than one polyurethane casting material supplier to get the best price for the resins you’d be using every day.
High-tech Manufacturing Methods
These days, businesses have access to an incredible range of manufacturing technologies, some of which are game-changers when it comes to scalability and productivity. Advanced manufacturing tools like 3D printing, precision CNC machining, and high-efficiency laser cutting all have the potential to help small businesses deliver big results. Although the usefulness of advanced manufacturing will depend on the kind of product you’re making, it’s definitely worth exploring the technologies that could help you make a better product at a lower cost.
Digital Manufacturing Software Solutions
Modern manufacturing is as much about software as hardware. Digital design programs and collaboration software help engineers, product designers, and manufacturing specialists work together to take a product from idea to reality. Using the right software solutions can massively streamline the product development process and help you bring new products to market quickly.
Whether you’re just getting started or getting ready to create a new product, keeping these four things in mind will be helpful when you get to the manufacturing phase. Every product is different, but most of these considerations will be applicable to just about any product you might be creating.
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