3M’S RIGHT FOR SMALL BUSINESS MANUFACTURING IN INDIA
Projections for manpower and staffing are made in the project report. However, it is necessary to time the induction of manpower in a planned manner. The engineers and operatives must be available before the installation of the machinery.
Choosing and ordering of right machinery are also of paramount importance. In many cases technology or process provides us with specifications which are not provided, then an extensive techno-economic survey of machinery and equipment available must be carried out. The entrepreneur must also consult experts prior to making a selection of equipment and machinery.
Materials procurement and planning are critical to success, of a start-up with a small scale manufacturing unit. Inventory management can lead to manageable cash flow situations; the otherwise if too much is ordered too soon the considerable amount of working capital gets locked up. On the other hand, non-availability may result in production hold-ups, and idle machine and manpower. For essential imported raw material whose lead-time is large proper planning is all the more essential.