Tag Archive: resources

What Do We Most Want to Do Post Lockdown?

May 20th, 2020

 

 I was on a Zoom call yesterday (one of 9), and we broke into groups to answer the question of what we most want to do post lockdown. Haircuts beat going to the bar! It is especially tough when you are on video 10 to 12 hours a day! I think the group feels a bit like this woman…

The same issue is occurring in business. What type of maintenance are you deferring due to lockdown? Should you continue to defer this maintenance type activity?

One Tip to Implement This Week:

Of course, the answer is “it depends”. We shouldn’t do everything just because we used to do it; in fact, the lockdown has created the opportunity to reexamine our focus. Take advantage of this opportunity to figure out where to focus. Perform a rapid assessment, prioritize what you should pursue and proceed with essential go-forward maintenance. If you’d like to hear more about these priorities, read my eBook, Future-Proofing Manufacturing & Supply Chain Post COVID-19

 

 

We have also launched a rapid Future-Proofing Manufacturing & Supply Chain assessment if you’d like assistance with the process. Contact us if you are interested. Stay safe and healthy. We continue to post coronavirus resources, write blog articles on navigating coronavirus as well as “beyond lockdown” strategies, and we are sponsoring APICS Inland Empire‘s “Navigating Through Volatility” webinar series. Join us and learn more here.

Since the lockdown will carry forward for several months in some form or fashion, we will be expanding our webinar series and providing additional resources to help you think about how to thrive in this pre-vaccine environment.  Let us know if you have topics you’d like addressed. We would love your feedback.



Leadership As We Emerge from the Pandemic

May 6th, 2020

“Whatever You Are, Be a Good One.” – Abraham Lincoln

All bets are off. No matter what type of leader you were pre-pandemic, your opportunity is now. Relationships move faster during times of crisis than any other time. Simply become the leader you know you can be. Everyone has the potential. Use your strengths. Gather your team to build on that strength. Move forward.

 

Be Calm

During these unprecedented times, there is substantial emotional turmoil. Start with self-management. Demonstrate calmness. Communicate clearly. Be patient, yet firm. Be upfront and tell people what you can tell them and tell them what you cannot tell them. Do not avoid them. People will make up a situation worse than reality every time. Instead, be upfront. Let them know that they will be the first to know when you know or are able to communicate. Establish trust and hold it closely.

Offer Resources & Communicate Frequently

Offer information and resources to help employees, customers, suppliers and other partners navigate these volatile times. Even the strongest of people should consider EAP (Employee Assistance Program) resources. Make sure that resources are communicated clearly so that employees can take advantage of what is available. Keep communicating – even if there is no news.

Read our eBook, Future-Proofing Manufacturing & Supply Chain Post COVID-19 to hear about additional strategies to lead, keep your teams moving forward, and engage your people in the future. There is ZERO doubt that leadership will make or break not only employee and customer engagement but also bottom line business results. As my HR mentor used to say, “It begins and ends with leadership.” Thanks to Debra Daniels-Smith as I couldn’t provide nearly the value to clients without her valuable counsel when I was VP of Product Supply for a mid-market healthcare products manufacturer.

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The Economy & Where It Is Headed

April 20th, 2020

Since I dressed up for my webinar with Eileen Angulo on “Navigating Coronavirus Impact with our Employees,” it seemed a great time to do a quick video for I’ve Been Thinking on the economy and where we go from here. 

One Tip to Implement This Week:As I said in the video, consider how you can help. Turn your focus from panic and worry to creativity and innovation. Focusing on innovation is the best path forward if we’d like to turn our situations toward the positive, and it is certainly is what will turn the U.S. towards a positive future. Anyone can innovate. Perhaps we aren’t all as skilled as MacGyver in utilizing pencils and paper clips but we each have unique talents and capabilities. Spend an hour focused on innovation and let me know how it goes. To learn more about innovation,

Stay safe and healthy. We continue to post coronavirus resources, write blog articles on navigating coronavirus as well as “beyond lockdown” strategies, and we are sponsoring APICS Inland Empire‘s “Navigating Through Volatility” webinar series. Join us and learn more here. As an executive director of SAC, we are also hosting a “Thriving Through Ambiguity” webinar series with a nominal fee for non-SAC members. Let us know if you have topics you’d like addressed. We would love your feedback.



Featured on Supply Chain Chats about Coronavirus & Where We Go From Here

April 5th, 2020

I was featured on Netstock’s “Supply Chain Chats” about the coronavirus impacts in the supply chain, latest trends and what changes might occur long-term due to the coronavirus challenges. We talked about the bullwhip effect and how companies are likely to respond. See the video here.

For additional coronavirus information, resources and strategies, please visit the coronavirus resources section of our website.



Coronavirus & Economic Impacts

April 1st, 2020

After concern about health and safety is worry about the economy and our livelihood. Thus, we thought we’d address this topic with the latest information by the experts….and a few of our thoughts thrown in for good measure.

According to the economic update by the Inland Empire Economic Partnership, “When Will We See the Light at the End of the Tunnel?“, we are headed into a recession (not surprisingly), but all hope is not lost! In essence, the report talks about two scenarios.

  1. Optimistic scenario: It assumes a decline in infections by early April with the virus under control by June, passing of the stimulus package, existing medications adopted to treat the serious effects and a vaccine ready within a year. In this case, we’ll go into a recession but the economy will start turning up in the 4th quarter or at least by the first quarter of 2021. It will be a V shaped downturn.
  2. Pessimistic scenario: In essence, the assumptions above do not come true, and the vaccine takes 18 months to develop. Certainly, the outlook isn’t as rosy with this scenario, and there won’t be a recovery in 2020.

We all hope the optimistic scenario is the likely outcome. As the report states, the Wall Street Journal surveyed 34 professional economists and categorized them into “pessimistic”, “baseline” and “optimistic”, and the IEEP “optimistic” outcome is more in line with the Wall Street Journal “pessimistic” outcome, and so this signals hope.

As it relates to businesses, non-critical businesses are certainly going to struggle until the coronavirus is under control. In several states, these non-critical businesses are shutdown. In some cases, employees have been let go; others furloughed; some are working remotely if feasible and some are finding creative ways to keep the business running or are changing directions as best as possible. Clearly unemployment claims are surging.

With that said, more opportunities are born during recessions than any other times so keep your eyes open. For example, perhaps you can tweak your products so that you can supply some critical products during this period. Or, perhaps you can develop a new product that can launch as soon as businesses are re-opened. Or have you thought about a new service that could make you stand out from the crowd as businesses start to ramp up? Or how about stealing top talent? I just love the story of a CEO of one of my clients. He hired a talented engineer during the Great Recession when he was let go and no one else was hiring, and that resource helped him excel to first in his market following the recession.

For those businesses considered critical, the picture is a bit brighter. For example, I am working with a food bar manufacturer, and people are stockpiling food bars. Thus, volume has spiked for food bars sold through grocery stores and Costco. In their case, it has trailed off for weight management bars and so they have a mixed bag. Certainly, toilet paper manufacturers cannot keep store shelves stocked! Medical products are also in high demand.

The $2 trillion dollar stimulus package was signed into law. There is assistance for individuals, businesses and workers. We are continuing to post resources to explain the benefits. I thought this article did a good job in describing the stimulus benefits (thanks CLA), and there is loan availability and forgiveness included as well. Stay tuned for updates on our coronavirus resources webpage.

Stay tuned with our coronavirus resources webpage. We will continue to add the latest economic forecasts, stock market analyses and more. However, instead of fretting about the future, take a step back (after all, you are probably in lockdown) and think about how you should reposition your business for the future. It is an opportune time to rethink strategy. If you’d like help to discuss further, please contact us.

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