January 28, 2021
Source: Oliver Theiss, Chief Revenue Officer, Andronix
The coronavirus pandemic brought on one of the most sudden shifts in US economic history. We went from record-low unemployment and continuous economic growth to tens of millions of unemployed and trillions of dollars in the economic loss within major manufacturing industries. The fortunes of the US economy shifted in just a few short weeks.
While there have been signs of recovery, there have also been signs that at least part of the current recession’s losses could become permanent – a long term hill for the US economy to climb. That result is a significant amount of economic stress that companies must absorb at the same time that they are implementing health containment initiatives and new processes to protect employees and keep their doors open.
To that end, many are now attempting to capture savings wherever they can to reinvest in those initiatives. Whether coronavirus remains for six months or years to come, it’s vital that systems be put in place that protects against the kind of losses that many have suffered this year.
Now is the time to look for these types of savings throughout the organization. In the past, there were a limited number of belt-tightening activities that would enable companies to prepare for these situations. Technology now makes it possible to go further, and while big technology initiatives are too much, you can start small, leveraging foundational changes with minimal investment to reap significant ROI and streamline operations ahead of a potential recession.
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- A Bottom-Up Approach to Technology
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- Digital Andon Cord
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- Going Lean, to Generate Fast Results
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Source:: Internet of Business