COVID-19: What it means for industrial manufacturing

Business leaders globally are in uncharted waters as together we face the challenges surrounding the recent pandemic and resulting economic impact. As the COVID-19 crisis continues to expand, many industrial manufacturing companies are facing challenges on numerous fronts:

  • material shortage and production stoppages due to supply chain disruption
  • problem to meet delivery times
  • unpredictable orders
  • cost escalation
  • workforce dislocation
  • cash-flow liquidity

What to expect?

Manufacturers should expect continued weakening links in their supply chain, as some vendors and suppliers will likely face operational or financial struggles of their own. The deeper into the supply chain, the greater the impact of the outbreak is likely to be.

As with previous downturns, the industry will likely move quickly to cut discretionary and capital spending to support operations. A key question for all companies will be: Do you have the financial reserves to weather the storm?

Acting fast is crucial in unprecedented situations

Companies have to do the right things now, and do them quickly and systematically. It is not just about surviving the coming weeks and months. It is about being prepared for what comes after that. Have you considered changing your business model, restructure employees’ hierarchy, or optimize processes in your company? Do so.

Save up to 30% of your costs

In the current Covid-19 crisis, an immediate and radical freeze on all unnecessary expenditures must be brought in. Companies that do this can reduce working capital, indirect costs, project costs and CAPEX by 15 – 30 % within a very short timeframe, and thus achieve immediate effects on the profit and loss account or liquidity statement.

Using LEAN methodology and automation is the future

As an expert in transformation management and performance improvement, Wesconi has a broad portfolio of measures available to help companies manage all phases of the crisis cycle, shore up their operational business and achieve massive savings.

We don’t limit ourselves to merely extend advice on “how things should be done”. We are ready to provide executive interim managers with years of experiences in their fields and strong hands-on approach, who will drive into project themselves and lead your company through all process of transformation.

Our experts have already helped companies such as Continental, CCN Group, Burgmaier Precisions and many more to achieve successful transformation.

The first consultation is for free

At Wesconi we want to play our part in helping companies through this troubled period. We are therefore offering free consultation to all companies who are experiencing dramatic changes in demand, supply or availability of personnel. If you´d like support, contact us. We are ready to discuss your current situation and find the best solution for you.

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