This summer it is hard to turn on the news or scroll through a social media feed without hearing about tariffs and trade wars.
Just scanning headlines like these (top search engine results) is confusing, disorienting, and somewhat alarming:
- Top American brands say the trade war is now eating into their profits (Washington Post – July 25, 2018)
- China says there will be ‘no winner’ in global trade war (BBC News – July 25, 2018)
- Trump’s trade war is economic suicide (Fox News – July 24, 2018)
- GM Falls Victim to Trump’s Trade War as Metal Prices Sink Profit (Bloomberg – July 25, 2018)
I’m a business owner, not an economist. Although I’m interested in all this news, I’m not qualified to judge the wisdom of these actions, or to predict the outcome. And these events are clearly not something I can control. But what can I do? Obsessing doesn’t help. And blissful ignorance is not a good strategy.
In times of uncertainty and volatility, focusing on what we can control becomes even more important.
How visibility into real-time data helps
That’s where real-time data comes into play. Visibility into real-time data – that is real-time visibility into business performance – can reduce waste and costs.
Hertzler Systems has over 35 years of experience helping manufacturers gain greater visibility into real-time data. Our clients are empowered to reduce variability, raw materials costs, inventory, scrap, waste, and rework.
Now is a good time to revisit some of our case studies to see how a:
- A foods manufacturer reduced raw material costs by 70% in six weeks
- A multi-plant packaging company increased line speeds by 15-20% over nameplate capacity
- An industrial products company increased on-time delivery by 30% and reduced inventory over 50%
These savings can provide a buffer against volatility, especially in the costs for raw materials for manufacturers, and the predictability of your supply chain. You and I can’t control or even predict the outcome of a trade war, but we can take positive steps to better manage what we can control. And that is going to give us more flexibility and capacity to respond creatively to whatever the future brings.
If you’d like to discuss how Hertzler can help you solve problems faster, reduce costs and improve throughput, contact our sales team at email@example.com, or complete the form here. They’ll be happy to discuss your situation, and explore how GainSeeker Suite can help you improve business performance.