It’s early 2009 and the world economy has seen better times. Despair is not rampant – but it isn’t hard to find. Economic conditions don’t adjust overnight, so managers have to target their efforts for the long and short term.
Strategic planning for the future is both necessary and important; specific tactics to move through this rough patch are going to be vital.
If you have the opinion that now is not the time to be getting involved with big initiatives or engineering projects, hold the phone.
Let me give you the perspective of an experienced engineer: Now might be just the right time andÂ there are many reasons why.
- The purpose of an engineered project is to improve the process. We create plans and design systems that do it faster, better, cheaper, with less waste, less energy, fewer people, greater throughput and great productivity. That should always be in season.
- Current economic conditions may make it easier to buy both goods and services. A clever buyer can work with an eager seller and frequently make deals that might not be as easily accomplished in times of surplus demand.
- Although one of the underlying issues in the economy is the availability of credit, interest rates can be quite reasonable. Enterprises that seek to add capacity may be able to get a good buy, pay for it with low interest money, and get extended terms. You never know until you investigate.
- Think of using engineering as a way to gain advantage: you not only want to cut flab – you also want to build muscle. Look at the whole structure and overall flow of your production process. In slower times, it can shed light on new insights. Remember the wisdom of excellent managers: there is no end point for improvement. This is an opportunity to think long, hard and intelligently about how to make your system operate seamlessly.
- When the demand begins to recover, it’s likely to come on strong. The time to meet the dynamics of an inevitable recovery is before it happens. Who has the time for extended shutdowns when you’re operating at full capacity? If you have the foresight to put strategic and properly engineered capacity and infrastructure in place, you may get off to an early lead in the next upturn.
Talk to an IBT engineering professional and let us look at how we can make sure that you are ready to stand happily in tomorrow’s sunshine. Contact IBT Engineering Services to discuss your options for targeted system solutions.