Coronavirus Demands a Data-Driven Response
CNC machining businesses are justifiably concerned about the COVID-19’s effect on metalworking supply chains, but they are not helpless. Data illuminate the path ahead.
As scary as headlines and the associated economic headwinds may be, panicking about the novel Coronavirus benefits no one. Rather than acting rashly based on guy instinct, businesses should analyze and act on evidence, particularly data of the sort provided by Modern Machine Shop publisher Gardner Business Media’s own in-house intelligence division. Here, I talk to Michael Guckes, chief economist of Gardner Intelligence, about the data we track, how the metalworking economy is responding to the virus, and the advantages of a rational, data-driven response.
This president of a machining job shop is preparing for the situation to last and focusing on communication and a positive environment for employees.
To minimize interaction, reschedule the work day to place a buffer between shifts.
Plans for protecting people and lead times alike involve not only concrete action, but also clear communication.