76. Object of ProductionBy Roger Bryan
Object of production is product that a company markets to its consumer base. In this section of your business plan, elaborate as to how the manufacturing of the product or service will take place on ground. Also, make sure that you jot down the problem that may arise during the production process.
Elaborate your suppliers and their production levels and prices. If feasible, try to create a relative performance chart of all the suppliers with their strength and weakness in the perspective of your business plan. Also, to increase the investor confidence, draw up a back up action plan in case the suppliers fail you.
The time estimate for production should also be included with the general outline of the production facility. Include the amount of production envisaged and other details such as time period of production etc. Make an estimate of the amount of sales that are expected based on the data at hand.
The next stage is to explain the various control methods in place or your plan to use in the future with regards to your production. Back this up with details of cost estimates, inventory/materials required, other special requirements (if any) and feasibility of the object of production.