Feasibility criteria for product selection

 FEASIBILITY CRITERIA FOR PRODUCT SELECTION

From a manufacturing standpoint, these are some points compiled over the course of 3 days

Time taken to manufacture the product

Energy requirements to manufacture

The manufacturing costs

Cost of raw materials

Costing of machinery and equipment needed

Risks associated- Analysed using HACPP principles

Space needed

The extent of human resources needed

Input to output ratio- ideally, low input yet high yield

The market demands and needs

In other words, the economic, financial, social, ethical and market needs must all be considered in the selection stage of the project