Emerging from the Pandemic
The coronavirus pandemic has caused economic havoc across the country, including here in Connecticut.
For the most part, manufacturers in the state have continued to operate their facilities since they are considered essential businesses.
Some have had to deal with workforce issues while others have been challenged sourcing raw material to keep operations going at full capacity.
As federal and state officials make inroads to minimize the ongoing effects of the health crisis, companies of all sizes in all industries need to prepare themselves to emerge from their current state as the economy reopens.
Business owners and leaders have steered their companies through this rocky period and now must plan for what is being called the new normal.
One thing manufacturers can be doing is taking a thorough look at their organization.
They may be able to come out of this crisis, which may have stagnated their business to varying degrees, with a far more lean and efficient operation.
Lean is not about reducing headcount or doing more with less. It’s all about reducing waste in processes and aligning people where they add the most value.
It’s going to be a different world in terms of business and the economy as we move beyond the coronavirus situation.
You can control the destiny of your business by positioning your operations and processes to meet and compete in the new manufacturing world order.
Resiliency and planning will be key. To effectively bounce back, some companies may have to figure out how to operate in new ways and to do so better than the competition.
Others may have to tweak or rethink their business models. Contingency plans should also be developed in order for a company to be prepared for future disruptive events or a potential return of the coronavirus later in the year.
Companies who found themselves vulnerable because they could not get needed parts and material may also want to build backup and safety plans for their supply chains.
The supply chains built on just-in-time inventory and distributed component sourcing may have to be reconsidered if disruption was a detrimental factor to your business operations.
Above all, continue to communicate and be transparent with your employees, suppliers, vendors and customers. Keep everyone informed and be open to ideas and suggestions that could positively impact your business.
As a business owner and leader, you have likely witnessed workplace transformations and innovations to maintain operational efficiency. Be sure to reinforce your appreciation to others throughout the organization.
This is not the time to stand still and wait for the way forward. Reassess your entire business operations, establish contingency plans and prepare your company to return to an effective and prosperous scale of production.
For assistance managing and adapting your business operations, contact CONNSTEP (800.266.6672).
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