Beyond COVID-19: Rapid steps that can help machinery and industrial automation companies recover

With COVID-19 disrupting the equipment and services markets, machinery and industrial automation companies need a rapid recovery strategy.

 
Machinery and automation companies serve every industry, from consumer goods to high tech, and the equipment that rolls off their production lines is as varied and unique as their customers. But almost every business in this fragmented and diverse sector has seen demand drop and plants idle as the coronavirus spreads worldwide. Despite their fundamental differences, machinery and automation companies now share one goal: surviving the crisis and emerging stronger into the next normal.

While most companies have already addressed immediate concerns, including worker safety, few have yet created a complete plan to govern their eventual ramp-up to full production. To assist them, we reviewed the current state of the machinery and automation sector and created scenarios to model how demand might evolve across diverse customer segments. With this information, machinery and equipment providers can estimate how demand for their own products might evolve, as well as the timing and pace of their recovery. In addition to looking at global trends, we also examined the European market because it is the location of many machinery and automation companies, as well as many equipment customers. We then created a recovery framework with universal strategies that can help any machinery and automation company, regardless of its customer base or geographic location.

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Πηγή: mckinsey