Force Majuere! Its here! Very high level info
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03/06/2020 02:25 PM
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Quoting: Lester 58915073
time to change the global supply chain so it works.. time to bring jobs home.Quoting: Rosicrucian1 78569787
I own a small manufacturing company and have been thinking of how we can adjust to continue production despite the pandemic.
At my company I have mandated that all wear masks, gloves, and eye protection at all times.
Plus, no employee can work within 6 feet of another employee to prevent airborne spread. We keep all the exhaust fans running at all times.
Disinfect door knobs, light switches, etc. often using bleach solution. Toilets are disinfected after each use.
Employees eat lunch outside in their cars or sitting outside. Bring lunches from home and do not purchase from restaurants.
Sterilize all incoming paperwork such as Purchase Orders and shipping docs by baking.
Just occurred to me to forbid wearing street shoes in the office.
You're only thinking on level 1. Got sufficient inventory of materials on hand, and money in the bank free of any loan contracts or financing agreements?
It ain't so much your ability to continue functioning as it is the parties you rely on. Even if you got plenty money... Will you still have operating funds if bank calls your loans? Think they won't call your loan? While they can get their money back, they will for sure come after it...
Got personal assets pledged as collateral? If you can't pay your payoff in full; adios to those assets.
Order out of chaos... Your chaos, their order.
How about your account receivables? Got much outstanding? Figure you're gonna get paid? Might take years.
How much Retained Earnings you got invested in stocks or bonds, or even real estate? Where else could you put money to earn more than .5% growth per annum? How're those valuations looking at the moment, and can you rideout the market swings we're seeing, much less a longterm adjustment lower? Sure... You HAD Money in the markets, just didn't seize it in time...
How long can you make payroll? If you spend your cash on payroll but have no product demand or capability to deliver product, how you gonna keep generating income?
If your bank has closures, got access to funds somewhere else? You do realize that your funds on deposit are your banks assets and your claim on them is lowest on the bankruptcy creditor totempole...
What's yours turns out to be theirs, and that's why this whole thing is happening...
I have been off working on prepping and keeping up on other threads.
Ref your good questions:
1. Yep. Got some cash, but in a safer place than a bank. We keep only enough in the bank to cover payroll for the next week.
2. Supplies? Back in early Feb. we ordered enough to stay in operation for over a year.
3. Loans? Don't have any. Debt free.
4. Receivables? I am collecting aggressively. However, since our customers need our services on a regular basis, if they get behind I let them send me one more order. Then, it is pay up the full amount or they don't get their parts back. Works every time. Then, they go on COD.
5. Investments? Don't have any. Instead, I make micro-investments in new equipment, chemicals, and new processes plus advanced training for my people. Skills and knowledge cannot be taxed away or stolen.
6. Payroll? We only have two on salary, my wife and my son. I have not taken a paycheck since 2011. The rest are hourly. When oil price dove back in 2015, we just cut hours to match our workload.
Our sales? Mostly parts that go to DoD. I think they will keep buying. Oil biz is going belly up.
I learned prepping the hard way.
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