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?