What Should You Be Doing Now to Prepare for the Economic Recovery?

The good news is if the economic experts are correct, it appears the current recession may have “bottomed-out”. From a pragmatic perspective, at least the view from there is “up”. Time will tell, although I remain cautiously optimistic they’re right.

As things begin to look up and more importantly, when your business begins to pick up, the consensus in the research, reports, editorials, and executive polls we've read suggests that manufacturers should be prepared for a different recovery unlike any previous experienced. Those preparing now will be better positioned for growth. What might you expect when the market returns?

There will be extraordinary cost pressures forcing manufacturers to find even greater efficiencies to remain competitive
Design and manufacturing lead times will be dramatically shortened with reliance on IT solutions to solve these challenges
Increased material costs will demand higher throughput and yields and reductions in scrap
Rising energy costs will demand greater energy efficiencies
Voids created by either weakened competitors or competitors who have left the market will create additional opportunities for growth for manufacturers who are prepared, equipped, and can respond quickly

If you're familiar with our products, you already know our track record for designing products that enhance productivity and efficiency including the most energy efficient billet furnace on the market. In this edition of Profiles, you can also read about two initiatives we've pursued during this period that have us prepared, and will in turn help or customers prepare for the recovery. Design technology upgrades with DriveWorks embedded in our SolidWorks automated design software is helping us retain and reuse knowledge, making our engineer-to-order product designs and build times extraordinarily more efficient and faster. We've also developed a new technology, the Granco Clark Spinning Log Welder, unequivocally the best technology ever developed to join two-piece billets. With better material utilization, it will help you reduce your scrap and increase your yield 1% to 2%.

Are you preparing for the recovery? We’re prepared to help you with that.