How COVID-19 is affecting the manufacturing industry and shaping its future?
Updated: Apr 15, 2020
A recent survey by the National Association of Manufacturers reveals that 78.3% of manufacturers anticipate a financial impact, while 53.1% anticipate a change in operations, and 35.5% face supply chain disruptions.
How are we going to get through this? What does the post-COVID future look like for the economy? These are some of the questions boring into the minds of industry leaders.
The industry is already shuttering from the tremors of this global crisis as a drop in demand chokes supply chains, and spending comes to a screeching halt. Companies have placed a freeze on opening new accounts. Furloughs have been given, while some companies pull out all the stops in order to continue to pay their employees.
The number one concern, of course, is workplace safety and the health of every employee. Many companies are leaning on automation to decrease in-house workforce; but for some manufactures, fully automating their company is an impossibility due to the necessity of manual labor.
The future could contain a smaller market for industries as companies are contained to local territory while the economy climbs out of the hole in which it has fallen into. What exactly does this look like for this industry? Nobody knows. It's an uncertainty in which creativity and proactivity must be implemented in order to not only meet our corporate needs, but our national needs as well.
M&M Welding and Fabrication is on the front line of this advance. With 14,578 confirmed cases and 524 death in Georgia from this virus, we are doing all we can for our employees as we seek to continue to provide for our nations infrastructure. The health of our employees and the needs of our customers is our priority.
Our prayers and support go out to all of our partners in the manufacturing industry. Together we will make it through this dark time.