Readiness check list for plastic parts prototype to production
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There are unforeseen production costs that may reduce the profitability outcomes because whatever can go wrong will go wrong, take longer and cost more.
1 – Prepare BOM (Bill of Material)
How many parts are there? From shelf or custom made? What are the ballpark costs for each item?
2 – MOQ (Minimum Order Quantity)
What are the MOQs for each item? At what quantity can you start negotiating?
3 – PO (Purchase Order)
Upfront development costs are paid before the sales come.
4 – Tooling
Which tools do you need to make production? Custom or standard tools?
5 – Quality
Understand the steps required to translate low volume production into large quantities. Each step should be described in detail to secure a quality outcome.
6 – Packaging
Consider it as a marketing and also transportation safety item to protect your products during shipping.
7 – Shipping
When the volume is enough, sign a discounted rate contract with shippers to save some money.
8 – Storage
Organize your storage based on your operational flow so that things would stay in control when the volume gets high.
9 – Others
Website development, money transaction account, accounting, space, trade shows…