This week was our final advisory meeting. It was not the most productive but it was very good to see we were on the right track. The advisors showed us that we are on the right track with our supply chain. We have now developed two different supply chains, one for year one when we will be manufacturing in Canada and then for year two and beyond we will be manufacturing over seas. By manufacturing overseas we must identify the risk and rewards associated. Some of the risks include: lack of quality control from one of the founders, risk of having the designs stolen, uncertainty with the manufactures as well as decreased ability to give feedback and make adaptions to the product. But it could end up being significantly cheaper and it is easier have mass production. By keeping production in-house for the first year we will be able to get rid of any of the "kinks" or issues that will arise. That way by the time we send the design over seas it will be clean and not need any adaptions.
Our year one financials needed some small changes. Erik and Jon gave us some insight into things that I hadn't thought about before. This was very helpful because there experiences have shown things that I wouldn't have other wise thought about. Our board has been amazing and has given us such great help and insight.
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