Learn how to control costs during challenging times, including the current COVID-19 crisis.
Whether you are operating at limited capacity, or experiencing decreased demand or shutdowns, learn how to control costs to stay flexible and resilient.
Manufacturers often have to weather major shifts during times of crisis, and COVID-19 has been no exception.
Whether you are facing significantly reduced demand or restarting from a complete shutdown, you are likely to encounter CAPEX cost challenges and must decide which fixed assets to utilize as production returns and ramps up. If you are facing record high or low demand, you have to figure out where and how to add or reduce capacity, including deciding about extra shifts, third-party warehousing, or temporary contract manufacturing among other things.
All of these considerations require a comprehensive assessment that addresses:
IIoT technology can help you collect valuable, real-time information. With advanced analytics, predictive maintenance can provide potential cost savings by helping reduce unplanned downtime, scrap, rework, and more.