Manufacturing Sector During Coronavirus

Ever since China witnessed an outbreak of an unknown virus in November, the world has not been the same. We’ve abruptly taken a step back and entered a constant state of fear and misery wondering to get our lives back to normal. 

As the world began to hibernate, the economy started to slow down. China, according to an analysis, may not be able to retain its position as the ‘world’s largest factory’ in the post Covid-19 global economic order due to the tremendous decline in their production  capabilities to supply raw material to their neighbouring countries.

Managing a manufacturing plant through a crisis like this is going to be a tough call as organisations are facing significant operational challenges. The global pandemic is disrupting both the demand behaviour and as well as the supply chains of companies by challenging their capabilities to deliver goods to the market.

In response to the government restrictions or falling demand, companies have temporarily shut their factories or curtailed operations until any further notice. In case of essential supplies, the frontline manufacturers have seen a significant increase in their demand but are still struggling to take their work to the relative safety of their homes. Experts are therefore looking for ways to operate through the immediate crisis while preparing for a potentially longer period of uncertainty of the end of the pandemic. 

It is a well-known fact that the 2020 recession is going to hit all the sectors and will heavily impose a financial burden. To examine the economic and operational impacts of COVID-19, the National Association of Manufacturers (NAM) surveyed almost 600 manufacturing leaders and concluded that:
- 78% of manufacturers are anticipating financial impact,

- 53% of manufacturers are anticipating a change in operations, and

- 36% of manufacturers are facing supply chain disruptions.

The suppliers, distributors, customers, and clients, are all going to be at a great risk during a time like this. Organisations, therefore are adopting several strategies that would not only benefit them, but also their internal and external public.

The application of Lean Six Sigma suggests to eliminate waste that do not add any value to the end product. These wastes do not just add extra cost, but also reduces the efficiency of an organisation to work as it consumes a lot of time. By eliminating the steps that are not required, the productivity of an organisation automatically increases. Lean Six Sigma is an improvement methodology that helps you to identify waste and eliminate them. It is a systematic approach to help employees realise their potential and make appropriate decisions. Lean Six Sigma provides a competitive advantage by streamlining processes which results in improved customer experience and increased loyalty. It also helps in developing more efficient process flows that drives higher bottom-line results.

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