CANADA'S LEADING INFORMATION SOURCE FOR THE METALWORKING INDUSTRY

LATEST MAGAZINE

CANADA'S LEADING INFORMATION SOURCE FOR THE METALWORKING INDUSTRY

CANADA'S LEADING INFORMATION SOURCE FOR THE METALWORKING INDUSTRY

CAMM survey shows cash flow a key concern for shops

Share This Post

Cash flow, employee retention and anxiety are key issues facing manufacturers, according to a recent survey conducted by the Canadian Association of Mold Makers (CAMM) and Automate Canada.

The two industry groups surveyed members and non-members working in manufacturing about their experiences with the Coronavirus lockdown and its impact on their business.

“We want to help and deal with concerns of workers, managers, owners in an ever-changing landscape,” says CAMM Board Chair Mike Bilton.  “We know these surveys are crucial in helping us keep updated about our industry.”

The goal of the survey is to inform about the sector’s rapidly changing current state and use these results to help advocate for support and to find ways to help with supply chain and any pending crisis in medical equipment.

One of the more moving results of the survey was that a full three quarters of companies who responded were willing to help with medical devices and/or equipment manufacturing.

“We have teams in place with Automate Canada and CAMM.  We meet daily and sometimes hourly.  We are sharing info to work for the best interests of industries for which many of us have a great passion,” said Automate Canada Chair Shelley Fellows.

The survey went to contacts in Canadian manufacturing, mouldmaking and industrial automation sectors and had 93 respondents.

It was immediately clear that the COVID-19 crisis is already having a significant impact on these businesses. Here are some findings:

  • Almost 65 per cent of respondents were companies under 50 employees 
  • Two-thirds of respondents had some employees off work on self isolation or quarantine. One-third had none
  • Layoffs are already starting to hit hard at some workplaces, with over 700 employees from 25 per cent of respondents on either temporary or permanent layoffs
  • To date, manufacturers have been impacted by worker anxiety, project cancellations, travel cancellations and the challenges of adapting to working from home. The risk of losing employees, cancelled projects and declining sales were also big stress points
  • Anticipated challenges in coming weeks are cash flow, employee retention, health and safety and supply chain risks
  • 75 per cent of companies who responded were willing to help with medical devices and/or equipment manufacturing 

This survey will be conducted weekly to gather data on the impact COVID-19 is having on the Canadian manufacturing sector. The goal is to assist manufacturers, mould makers and industrial automation companies through these rapidly changing times and to understand best practises and responses should another crisis hit.

Share This Post

 

Recent Articles




Wordpress Social Share Plugin powered by Ultimatelysocial
error

Enjoy this post? Share with your network