Running a manufacturing business while COVID-19 is a challenge in itself. In addition to social restrictions that make people not free to shop, a lot of termination of employment also reduces purchasing power. Consumers are more focused on shopping for primary needs such as food and medical devices.
Keep sustainable for manufacturing business
As a business actor, it takes several steps to survive. Organizing the company’s financial flows needs to be done properly to keep the manufacturing business sustainable. One of them is efficiency so that the company’s cash can be used for a longer period of time. Here are some tips you can using :
1. Set cash flow
You can make efforts that can be made to regulate cash flow efficiency. That is for branding activities, delaying company expansion activities and delaying family gathering. For internal company, unpaid leave is applied, withholding employee salaries and the owner does not take salaries. This step is to maintain long-term cash flow. This is because there is no certainty when the pandemic ends.
2. Empathize and maintain communication
Running a manufacturing business is not only profit. It also provides what is needed by consumers with the current conditions, medical devices are needed. For example producing and selling masks. Companies can convey to customers, by buying these products, they can help craftsmen to survive and help people get a supply of masks.
The company is actively providing information related to the prevention of virus transmission, namely spraying disinfectants and checking the body temperature of employees. This is to maintain consumer confidence that the company cares about these conditions. In situations like this it is important for companies to establish good communication with consumers, employees and partners.
3. Employee arrangements
Companies can enforce work from home (WFH) and require employees to fill out job update applications to maintain company productivity. The company also needs to make a daily plan with a minimum of six activities. Activities that are priorities or that can provide income for the company.
4. A new marketing strategy
During this pandemic, there was a shift in needs in the community. They tend to override secondary needs such as fashion. Giving discounts for all products is one right step. Companies also need to improve applications and online content. If the company has an application, you can maximize the features in your application. You can also enter content that you have created by searching for topics and keywords previously in the application. Unless the content that you create must remain relevant.
5. Utilizing banking services
Companies must be able to utilize online banking services optimally. Banking offers these services to facilitate companies in running their business. So companies do not need to come directly to the bank. Companies can conduct financial transactions digitally.