Mold Builder Shares Coronavirus Impact and Its Plans to Keep Manufacturing Moving
In an effort to share solutions and strategies (and so you don’t feel alone), I wanted to share some conversations I’ve been having with mold builders as they continue their manufacturing amidst challenges brought about by the virus. Here is one Q&A with R & D Leverage.
Slideshow Title
MMT: Has your business experienced any changes due to the Coronavirus?
Mike Stiles, CEO of R&D/Leverage: Our business no, but we are hearing from some of our convertor customers that parts availability – specifically injection molded parts previously sourced from China – have been subjected to supply-chain breaks.
MMT: Has your business made any adjustments due to the Coronavirus?
Stiles: Most of the changes we have made are customer-driven. We haven’t reduced or restricted travel, but we are having customers cancel previously scheduled visits due to their own restrictions of outside visitors.
No related impact to our staffing/headcount, supply chain (virtually 100% domestic), lead time (unless we get busier due to on-shoring of previously off-shore projects).
We have withdrawn from an upcoming European trade show (Interpack) due to feedback from customers and prospects who have already declared they will not attend. No current impact on recruiting/hiring unless related uptick in future business requires accelerated hiring to meet demands.
Nothing yet in marketing other than consideration of making some currently open press-time available for short-term production of injection molded parts to fill the gaps for a convertor or brand-owner that needs a bridge-plan while working through long-term solutions.
MMT: What are you hearing from your customers?
Stiles: Some tooling projects that were previously slated for off-shore manufacturing are being pulled-back for domestic production regardless of increased costs. Some of these projects have been already stated in China and are being canceled and re-started here in the U.S. because of both uncertainties of supply and risk of travel for project managers to an area where health and wellness become a concern.
MMT: How is R&D Leverage prepared to help its customers or other manufacturers to keep things going, as this virus continues to disrupt manufacturing across the globe? How can or is R&D Leverage helping?
Stiles: We are not, and have no intention of becoming production injection molders. However, we do have a variety of injection molding presses which we use for validation of new molds we design and build. Currently, these machines are utilized at less than 15% in support of our tooling operations. In some instances, we could make some press time available to fill-the-gap for someone who is actively seeking a long-term solution but who needs parts in a reasonable interim period.
MMT: Moving forward, what is your single biggest concern related to the Coronavirus?
Stiles: Currently the biggest concern is the roller-coaster reaction in the stock markets and the impact that singular issue might have on business investments. No panic from us yet, but we all know that this issue can be a barometer for future business activity.
Our hopes are that U.S. health officials work diligently to contain outbreaks to small isolated areas in order to reduce the opportunity for a larger global impact.
If you are interested in sharing your story, insights, strategies or solutions, email me at: cfuges@gardnerweb.com
Related Content
Dynamic Tool Corporation – Creating the Team to Move Moldmaking Into the Future
For 40+ years, Dynamic Tool Corp. has offered precision tooling, emphasizing education, mentoring and innovation. The company is committed to excellence, integrity, safety and customer service, as well as inspiring growth and quality in manufacturing.
Read MoreThe Trifecta of Competitive Toolmaking
Process, technology and people form the foundations of the business philosophy in place at Eifel Mold & Engineering.
Read MoreMaking Quick and Easy Kaizen Work for Your Shop
Within each person is unlimited creative potential to improve shop operations.
Read MoreEditorial Guidelines: Editorial Advisory Board
The Editorial Advisory Board of MoldMaking Technology is made up of authorities with expertise within their respective business, industry, technology and profession. Their role is to advise on timely issues, trends, advances in the field, offer editorial thought and direction, review and comment on specific articles and generally act as a sounding board and a conscience for the publication.
Read MoreRead Next
How to Use Strategic Planning Tools, Data to Manage the Human Side of Business
Q&A with Marion Wells, MMT EAB member and founder of Human Asset Management.
Read MoreHow to Use Continuing Education to Remain Competitive in Moldmaking
Continued training helps moldmakers make tooling decisions and properly use the latest cutting tool to efficiently machine high-quality molds.
Read MoreReasons to Use Fiber Lasers for Mold Cleaning
Fiber lasers offer a simplicity, speed, control and portability, minimizing mold cleaning risks.
Read More