Welcome to Episode 3 of the MakingChips podcast. In this third episode, we will give you 7 points to consider BEFORE a recession hits the manufacturing industry.

This episode is about tactics for manufacturing companies WHEN the recession hits. That’s right, I said WHEN, not IF. If there is one thing that nobody understands, it’s our economy. There is little evidence of a recession proof economy, so we need to spend some time discussing how to better prepare. Are you ready for a recession?

Topics Discussed in the Show

* Do you have a diversified customer base?

* Maintain proper overhead

* Review your debt

* Strategic purchase of capital equipment

* Does your company provide a critical part or service that is recession proof?

* Is your customer base recession proof or vulnerable?

* Is your product or process difficult to replicate or will your customers be looking to lower their costs?