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Making Chips Podcast for Manufacturing Leaders

MakingChips is hosted by a set of multi-generational manufacturing leaders who are on the factory floor everyday, living their lives in the world of manufacturing—they know first hand that manufacturing can be challenging. Founders Jim Carr and Jason Zenger released their first podcast in late December 2014—releasing over 300 episodes to-date, reaching more than 650,000 downloads—all while striving to deliver on their mission, to “equip and inspire the metalworking nation.” In 2019, Nick Goellner, another multi-generational manufacturing leader, joined the MakingChips hosts, bringing a third generation of manufacturing leaders to the table. Join the hosts as they work through industry challenges with leaders such as Titan Gilroy (Titans of CNC), John Saunders (NYC CNC), Mark Terryberry (Haas Automation) and more.
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Making Chips Podcast for Manufacturing Leaders
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Dec 17, 2014

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?

1.      Do you have a diversified customer base?

2.      Maintain proper overhead (building ego).

3.      Review your debt – did those decisions result in a return?

4.      Strategic purchase of capital equipment

a.      Measure your ROI

b.      Invest in technology to stay productive and ahead of the competition

c.      Don’t spend money just for a write off…have a strategic reason

d.      Should you pay cash or get a loan?

5.      Does your company provide a critical part or service that is recession proof?

6.      Is your customer base recession proof or vulnerable?

 

7.      Is your product or process difficult to replicate or will your customers be looking to lower their costs?

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