What are the basic requirements to start your own manufacturing plant
In previous article we will discuss about the how to start pharmaceutical manufacturing plant in India. In present article we try to cover some basic requirements to starting our own pharmaceutical manufacturing company or plant. In pharmaceutical industry various manufacturing option is available from the raw material manufacturing to finished goods. But quality is first priority for each manufacturer in healthcare industry. Lot of person dream to start manufacturing plant during their job period . Certain requirements are common for each manufacturing unit like.
- Product : This is the first and initial requirement because lot of things depends on the product you are going to manufacture. Product like Tablet, Capsule, Liquids, Granules, Powders, Dry syrups etc.
- Feasibility Report : It is necessary ascertain the feasibility of manufacturing the selected product. The feasibility report should analyze both the technical as well as financial feasibility of the product.
- Market Identification : Once the feasibility is established then finalize the target market and enter the market as decided and create a pathway for that entry.
- Finance : This is the most important and competitive tool for setting up any business venture. there should be good financial arrangements is must for a venture. Every venture always needs sufficient finance to meet the actual needs or expenses.
- Team : Once the above requirements are met then after that focus your attention on the selection of team. Because every venture or manufacturing project required professional, skilled and dedicated team to run smoothly and development.
- Area for setting up the plant : The area for the setup of manufacturing plant is matters. The place where the facility to do the maufacture is to be established, needs to be decided after considering the below points
- Availability of economic land
- Availability of skilled and economic labour
- Easy availability of technical support
- Easy access to markets and raw materials
- Transportation and logistics
- Financial considerations like tax breaks/ subsidies/ government incentives.
7. Equipment Selection : This is a very crucial and important decision. Running a manufacturing plant equipment is required but low cost equipment at the begining of the project is beneficial for the venture. Always choose the equipment according to the budget and customer requirement. Always choose and buy good quality equipment for the manufacturing plant.
8. Permissions and licence : ultimately you are required to obtain all the necessary licences, permissions and approvals as per the rules and regulations of the government. where you want set up your manufacturing plant , you required approvals like GMP, WHO, USFADA, DRUG and COSMETIC ACT.
We will try to give brief idea to you about the steps which are required for the smooth and hassle free setup of a manufacturing plant. We hope above information helps you. Lot of sales person and production managers set their own manufacturing plant. Some architect present in market only do work related to the pharmaceutical manufacturing plant.
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