Nissan and electric vehicle maker Rivian are reopening US factories that were shuttered for the coronavirus pandemic. Rivian's plant in Normal, Ill., has instituted a phased return of employees, and two Nissan plants are due to reopen Monday followed by another June 8.
The factory floor, supply chain, customers, operating costs and recovery plans all should be factored in by finance leaders as manufacturers prepare to emerge from the pandemic crisis, writes Motion Industries Chief Financial Officer Greg Cook. "While managing through each of these factors, attempt to over-communicate," he writes.
Lasers bring a new level of precision and efficiency to manufacturing as the field advances toward Industry 4.0. Mark Crawford explores standard laser applications, such as texturing, drilling, welding and ablation, as well as newer uses enabled by artificial intelligence.
The use of USB drives to copy company data more than doubled in the early weeks of the pandemic, while malicious network activity and incident-response inquiries also were up, a Digital Guardian report states. Employees appear to be taking data for themselves rather than to sell online, says report author Tim Bandos.
Checking with suppliers should be the first order of business for manufacturers preparing to return to full operations, writes Plante Moran partner Lou Longo. "Manufacturers need to be prepared for similar questions from their own suppliers, who will have concerns about their viability," he writes.
Westerlo, N.Y.-based Hannay Reels has managed to avoid layoffs or furloughs by being declared an essential business and through a small-business loan. The manufactured has deployed automatic hand sanitizers and towel dispensers and enforced social distancing across more than a dozen buildings while some office employees worked from home.
The Federal Reserve's Beige Book report found slow recovery from mass unemployment in the US due to employee health concerns, child care problems and ample unemployment benefits. The Fed also reported the Paycheck Protection Program has helped many businesses limit or avoid layoffs, but many business leaders are uncertain about the potential pace of recovery.