Quotas, sample costs, materials, capital, first runs – don’t know where to start?
o A simple step-by-step guide to getting your product manufactured.
o How to decide which manufacturer to use
o Where to find the best manufacturer for YOUR design
- trade fairs, online sources, agents.
o The pros and cons of hiring and agent vs. going direct.
o The facts about quality control, commissions, quotas and more.
o What you’ll need including letters of credit, shipping options, brokers and codes.
All of the above assumes you have done your market research in terms of design, competitive research, distribution, etc.
Step I: What does manufacturing entail?
Getting your product made and to market can be up to 80% of a company’s revenue!
The scope of this supply chain includes more than you think:
o Organization and financing, selling, design, purchasing, sourcing raw materials/manufacturing/finished goods, shipping, distributing and final accounting to determine success of cycle.
Typical problems include:
o Late supply (= canceled orders), poor quality, financing troubles, packing that doesn’t fit standards, packing leading to breakage, design without consideration of cost.
If you know what to look for in advance, you can save yourself lots of trouble.