What manufacturers can do to prepare for the upturn
By Rob Stummer, Asia Pacific CEO, SYSPRO This is an incredibly difficult time for everyone and manufacturing companies have had to lay off staff or shutdown during the Covid-19 pandemic. Coronavirus has already caused shifts and a reduction in “wants” goods and an increase in “needs” goods as this crisis evolves, and consumers batten down the hatches into a conservative mode, and some businesses have been agile enough to switch production quickly to high demand products like ventilators, masks, hand sanitiser or home consumables. As we stem the spread of the virus, what is certain is that there will be an upturn and demand will recover, we just don’t know when. When the inevitable recovery does happen though, the manufacturing companies that have maintained a level of business continuity and are ready to jump back into full production are the ones that will survive this Covid-19 crisis. The real question is how quickly will that demand come back and how will manufacturers be able to respond to their biggest challenge to date? Increasing operational efficiencies In an increasingly interconnected world, maintaining the efficiency of supply chains is of the utmost importance to the Australasian economy if we are to jump back into action once the constraints of the coronavirus crisis have reduced. The good news is technology is allowing manufacturers to minimise disruptions by using real-time reporting to manage their inventory to ensure there are no issues with under or oversupply of goods. A frictionless, real-time, data-driven and interconnected supply chain can only benefit the economy in the short and the long-term. Manufacturing businesses should be doing everything they can to survive this by preserving cash and by optimising their operational efficiencies using real-time process feedback. Their Manufacturing Execution Systems (MES) will ensure that quality and efficiency are built into […]