gorabet bahis siteleri betbonusking.com bonusaffiliate.com casinorulet.com canlı bahis siteleri Gaziantep escort bayan casino siteleri ofis taşıma
+

Manufacturing

Cosmetic Producer • Toys Producer • Sign Makers and Printing

THE NEW NORMAL

What Has Changed?

1

Securing Sales

COVID-19 slowdowns have pushed manufacturers to open up online ordering and other sources to acquire sales. These channels may have been underutilized or have not previously existed in these companies.

2

Scrambling Supply Chain

Businesses in manufacturing face multiple challenges in supply chain and distribution including changes in transportation, issues with the availability of raw materials, delays, and issues with storage, warehouses, and inventory. Alternative sources have only been found for transportation.

3

Dangers with Debt

Besides a reduction in demand, debt repayment was the top challenge faced by manufacturing companies, and forgiveness of debt was considered most useful, in addition to loans and grants.

4

Manufacturing Essentials

Given the right equipment and raw materials, some manufacturers were the first to pivot to producing high-demand medical supplies, including hand sanitizer. This can provide an advantageous source of capital both in the short-term and long-term as consumer behavior and government policy shift in response to the pandemic.

5

Reshoring

COVID-19 challenges with supply chains coupled with years of ongoing reshoring trends are causing more manufacturing to return to the United States.

6

Ordering in Bulk

The COVID-19 pandemic is increasing consumer focus on health, long-term sustainability, and affordability. These trends will likely increase preference for one-time quality purchases or bulk options for the long-term rather than re-purchasing items.

RECOMMENDATIONS

How Should I Recover?

1

PHASE 1

Onset

Prepare your business for your local state’s reopening process

Establish and enhance websites for online sales and ordering

  • Lynda.com offers various online video courses for website development, software, business skills and other professional skills. Logging on with local libraries like the King Country Library System and Seattle Public Library cards offers free access.
  • Consider hiring a university student or recent graduate to help build or improve a website. Due to COVID-19, many college students are looking for internships and job opportunities to replace those lost due to the pandemic. Post a job offering on Handshake.
  • Take advantage of free software and technology resources for small businesses.

Connect with company and legal advisors to prepare for incoming tariffs, sanctions, and regulatory changes

2

PHASE 2

Oscillation

Ensure the health of workers following federal COVID-19 safety guidelines

Re-assess products, supply chains, and business models

Find ways to utilize excess manufacturing capacity

  • Work with university incubators such as UW CoMotion, startups or other companies (similar but not direct competitors) to sell excess capacity.

Grow your network for partnership opportunities

  • Explore your local and national Ascend network for wholesaling opportunities and connect with potential excess capacity buyers.
  • Register as a manufacturer on free online domestic supplier directories such as: ThomasNet, Maker’s Row, MFG, and Kompass. Many of these are looking for manufacturers of critical COVID-19 related supplies and equipment.
3

PHASE 3

Opening

Enter industries with new demand following COVID-19 long-term

  • The health and medical technology sector will likely sustain prolonged demand for high-quality, efficient production of medical tools and equipment.
  • Differentiate products and operations with 3D printing technology, which allows for the customization of existing product lines, replacement of hard-to-acquire parts, unique products and more.

Case Studies

Success Stories

post thumbnail

mSEED Group

mSEED pivoted their business to provide hand sanitizer in response to the pandemic.

SEE FULL STORY

Technology

Tools to Adapt

3D Printing Technology

The flexibility of 3D equipment has allowed for the creation of personal protection equipment, parts for ventilators, and other tools critical to combating the pandemic.

Internet of Things

Internet of Things (seamless integration of the Internet with other computers and devices) has enabled manufacturers to construct a network of sensors that gather critical data on production speed, quality and efficiency. Following COVID-19, it will become increasingly important to integrate sensor and tracking technology to maintain optimal operations.

Enterprise Resource Planning (ERP) Software

NetSuite

E2 Shop System

Global Shop Solutions

Useful Industry Resources

Find More Ways to Help You

post thumbnail

SCORE: Manufacturing Action Plan

SCORE released an action plan tailored for manufacturing businesses.

SEE FULL STORY