MC004: 11 Points To Consider DURING The Dreaded Recession [Podcast]

By December 19, 2014 Uncategorized
E4

We are in a recession…now what?  Do you go to the bar or do you take action?  Welcome to Episode 4 of the MakingChips podcast.  In this fourth episode, Jim and I will step you through 11 points to consider WHEN the recession hits the Metalworking Nation.  Yes, this subject is a bummer, but MakingChips is going to Equip Manufacturing Leaders no matter the subject.

Yoda says “No!  Try not.  Do or Do Not.  There is no try”

Topics Discussed in the Show

  1. Pay attention to your cash flow – like a hawk – know the numbers.
  2. Talk to your staff and be honest about what is going on.
  3. Be honest with your partners.
  4. Know your core competency and stick to your business model.
  5. Minimize purchasing and reduce expenses – can you insource any of your services?
  6. Lower your overhead.
  7. Minimize your labor costs (OT) – make strategic decisions sooner rather than later.
  8. Realize your capacity level.
  9. Negotiate with banks.
  10. Negotiate with your landlord.
  11. Capitalize on opportunities – this is HUGE!

In our Manufacturing News segment, we discuss women in manufacturing.

In our Metalworking Tools segment, we discuss the new Mazak INTEGREX i-400ST.

5 Comments

  • Kent Gladish says:

    Will listen to it tomorrow in the car! Love it!!

  • Great Podcast!

    Here are some topics I’d like to see you guys talk about in the future.
    – Getting young people interested in Machining
    – Changes in CNC Control Technology
    – Speed or Power – What’s Better
    – Re-Shoring – Bringing machining work back to the US

    I would love to fly out and record a podcast with you guys. I live in Los Angeles and know Jim Carr. I also work with several job shops. Some topics I could discuss are:
    – Start-Up Stories
    – Celebrity Machinists – Jay Leno, Will I Am, Robert Mitchum,

    Merry Christmas

  • Todd Schuett says:

    The info about the combination of Integrex with Additive is intriguing, but I’d love to hear more about the whole Integrex One and Done concept for other Integrex models.

Leave a Reply