Why 4M’s is important in operating a business?

One of most major issues in the entire production system are the inputs and the
transformation process. The output's quality is determined by their quality.
The input and production process factors are often referred to as the "Four M's
of production", namely Manpower, Method, Machine, and Materials.
The 4M’s is really important especially in operating or developing a business. In
developing a business plan, we have to consider the importance of the 4M’s of
operations in all business opportunities, because it helps you to identify the problems of
the business in the future and in actual situations especially in the production process
and marketing.

We recognize that complexity can be used to create the illusion of greater depth
or value, but it is often the simplest of tools that help us on our journey to make every
associate in our organization a confident problem solver. These methods can be used
to address the issues they face on the front lines of operations.

One such tool is the 4Ms of production, and most organizations we work with are
familiar with the concept to some degree. Whether they know it as the 4Ms, the 5Ms,
the 6Ms, Cause and Effect analysis, Fishbone diagram or Ishikawa, the basic definition
is there.

In applying your 4M's of production, it is best to think about the customer's point
of view in terms of their influences as to why they will buy a particular product, your
product aims to answer each consumer's wants or needs and meets with their
expectations over the product, and how suppliers, value chain, and supply chain affect
the business and production.

Explaining the importance of each 4M’s:

 Method

Method or production method is important because it is the

process or way of transforming raw materials to finished products. The
resources undergo some stages before it is finalized and become set for
delivery to the target buyers. The selection of the method of production is
dependent on product to produce, mode of production, manufacturing
equipment to use and required skills to do the work.
 Manpower
 Manpower talks about human labor force involved in the
manufacture of products. It is important because it measures as the
most serious and main factor of production. It also talks about what
the entrepreneur must determine, attain and match the most
competent and skilled employees with the jobs at the most
appropriate time period.

 Material
Just in case the resources are below standard, the finished
product will unsatisfactory as well. The entrepreneur may consider
cost, quality, availability, credibility of suppliers and waste that the
raw materials may produce.
 Machine
Machine is important because it is all about manufacturing
equipment used in the production of goods or delivery of services