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OVID-19 disrupted the world and metal fabrication companies within the manufacturing industry are not immune from the turmoil. As business owners navigate these muddy waters, we can learn from the ways other companies are surviving and thriving during the pandemic.
This is a roundup of recent news from metal fabrication and manufacturing companies.
The Paycheck Protection Program is talked about as one of the biggest benefits of the CARES Act for manufacturers, though the National Association of Manufacturers is continuing its push for added protections in a $1.4 trillion COVID-19 Resiliency Fund. (Read more: What the COVID-19 stimulus packages mean for manufacturers).
Unemployment filings skyrocketed past 6 million across the country. While it’s still unclear how many of these come from the manufacturing industry, initial reports show fabricated metal products as the most affected sector. (Read more: 6.6 Million More File Unemployment, Sustaining March’s Record Rate).
Many manufacturers have shifted production to adapt to the changing marketplace. A metal shop in Pennsylvania adjusted to the ever changing situation by responding to requests for metal frame hospital beds and steel parts designed to hold test tubes. (Read more: Despite the bumpy COVID-19 ride, metal fabricators endure).
With the widespread shortage of COVID-19 test kits, two companies partnered to step up and create nasal swabs with 3D printer technology. (Read more: Improving Swab Effectiveness using 3D Printing).
And, the need for ventilators caused car manufacturers Ford and General Motors to set out on a venture to learn how to create these medical machines in a fast and desperately needed move. (Read more: How old school manufacturers learned to make ventilators virtually overnight.)
More examples include a shift from fuel-grade alcohol to neutral alcohol for disinfectants or mylar for sports gear to instead providing it for medical shields. These calculated shifts in operations are possible when companies have strong operational intelligence and communication, collaboration and adaptation in the supply chain. (Read more: From face shields to hand sanitizer, chemical makers are using tech to quickly produce COVID-19 necessities.)
Other industries that service manufacturing companies have also adapted to meet these changing needs. Asset Compliance is a company that helps large manufacturers manage complex supply chains through an online data exchange. The company adapted its platform to track materials available where COVID-19 may be negatively impacting supply chains, so that companies can adapt. (Read more: Free tool helps manufacturers map where COVID-19 impacts supply chain).
Surprisingly unrelated to COVID-19, a market demand to become more environmentally conscious has inspired toy producers to research eco-friendly packaging, with manufacturers adapting their productions to meet needs there. (Read more: Toy manufacturers look to reduce carbon footprint). And as the coronavirus has caused a shutdown of many things around the world, the impact on the environment has popped up in conversations with signs that this pandemic may fuel long-term conversations in the area of going green.
While the coronavirus continues to surge across the United States, many manufacturers face an uncertain future. Amidst the challenges this pandemic brings, we find courageous opportunities to scale the mountain and follow a different path, reconnecting and engaging new sales opportunities to keep your company thriving.
Join us in our webinar where we will …
This webinar is a Q&A style discussion led by Steel Mountain Marketing’s Marketing Director Kaylie Smith along with On Point Holding’s President & CEO Brad Peterson. Kaylie brings a strong marketing background and data-driven knowledge while Brad brings years of experience in the manufacturing industry for the ultimate blend that makes this webinar worthwhile.
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