While COVID-19 has damaged some manufacturers beyond the hope of repair, we are pleased that Bopp Busch has weathered the COVID storm. However, even those surviving manufacturers will need to prepare a pandemic exit strategy. Gartner, a research and advisory company, recommend that businesses look at their COVID-19 Reset as three phases:
Phase 1: Respond
Manufacturers must take immediate actions to keep people safe and maintain essential business operations.
Phase 2: Recover
The restarting of activities affected by the pandemic, such as reopening, rehiring, rebudgeting, and resupplying.
Phase 3: Renew
The development of an organizational strategy to implement insights and patterns from Phases 1 and 2 as elements of a new foundation to build on.
Manufacturers negatively affected by the pandemic may need to reduce or eliminate operating models that have proven non-effective during the crisis. If you see a sudden surge in demand, you may have difficulty adjusting, but a return to pre-pandemic production levels should result soon. Suppliers not seeing a spike in demand may need to focus on new markets for business or adjust for current capacity. Finally, companies with digitalized business units should consider rescaling.
Every manufacturing company has seen the repercussions of the pandemic. 2021 has, and will continue to, produce an abundance of forecasting regarding future revenue as the industrial world recovers and adapts to the post-COVID-19 normal. Manufacturers will need to be flexible enough to adjust forecasts and react to impacts to determine if they need to retool, rescale, or retreat. To read the entire article about Gartner’s five phases of the COVID-19 Reset, please visit: Gartner.
Since 1948, Bopp Busch has adjusted and evolved with changing times to be a valued partner supplier for our customers. To support our core stamping services, we provide e-coating, toolmaking, general assembly, and design services. To learn more about Bopp Busch and our capabilities, contact us today.