Welcome to Episode 3 of the MakingChips podcast. In this third episode, we will give you 7 points to consider BEFORE a recession hits the manufacturing industry.
This episode is about tactics for manufacturing companies WHEN the recession hits. That’s right, I said WHEN, not IF. If there is one thing that nobody understands, it’s our economy. There is little evidence of a recession proof economy, so we need to spend some time discussing how to better prepare. Are you ready for a recession?
Topics Discussed in the Show
- Do you have a diversified customer base?
- Maintain proper overhead
- Review your debt
- Strategic purchase of capital equipment
- Does your company provide a critical part or service that is recession proof?
- Is your customer base recession proof or vulnerable?
- Is your product or process difficult to replicate or will your customers be looking to lower their costs?