Question
Which are the three situations related to manufacturing operations before the venture?
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Answer
Following are the three situations related to manufacturing operations before the venture:
- No Manufacturing Involved: This is for a firm producing tangible good. For a trading firm or a service provider, then this section is of no use.
- Partial Manufacturing: If some or all the manufacturing process is to be subcontracted or outsourced, then the production plan describes the following:
- Name and location of subcontractor(s).
- Reasons for their selection.
- Cost and time involved.
- Any contracts that have been completedetc.
- Complete Manufacturing: If the manufacturing is to be carried out in whole by the entrepreneur, then it describes the following:
- The physical plant layout.
- The machinery and equipment required to perform the manufacturing operations.
- Raw materials and suppliers names, addresses, terms and conditions.
- Cost of manufacturing.
- Any future capital equipment required etc.
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