It’s an understatement to say that the COVID19 (or Coronavirus) pandemic will have a profound and long-lasting impact on the world as we know it. From the way we work, and teach our children, to how we buy food. It’s inevitable that COVID19 will touch upon every facet of our lives–with some estimates predicting it could rob as much as 2 Trillion dollars from the global economy.
While restaurants, airlines, and the hospitality industry are the worst hit by this catastrophe, manufacturing is far from immune to its effects. Even after the pandemic has subsided and social distancing comes to an end, many companies estimate it will take between three and six months for manufacturing to return to normal. To weather the storm manufacturers should take advantage of every opportunity available to reduce costs and improve efficiency. For manufacturers with CNC machines, utilizing independent spindle repair companies offers significant benefits during such unpredictable times.
Independent Repair Companies Reduce Labor Costs
It’s no secret that labor is expensive. A Harvard Business Review study showed that labor expenses typically represent more than 50% of overhead. With so much uncertainty regarding both material supply and consumer demand it’s essential for manufacturers to remain as flexible as possible. Some estimates project that more than 2 million layoffs could result from the pandemic, as companies scramble to reduce labor expenses. For manufactures, utilizing independent spindle repair companies can help fill necessary labor gaps as businesses try to scale down operations.
Domestic Repair Companies Improve Repair Turnaround Times
With global supply chains severely disrupted and international borders shutting down, many OEMs are cutoff from their equipment. For manufacturers this can add untold delays for even the most routine spindle repairs. However, a domestic repair company, such as GTI Spindle, can provide quick turnarounds to get manufacturers back into operation significantly faster than foreign OEMs. In fact, many OEMs partner with independent repair companies to provide supplemental repair services in regions that they can’t effectively cover.
Companies with Expertise in Vibration Analysis Can Help Manufacturers Go Remote
Unplanned downtime is one of the most expensive challenges manufacturers face. Some estimates calculate that downtime costs as much as $22,000 a minute in the automotive sector. Vibration analysis tools–as part of a larger predictive maintenance program–offer an invaluable opportunity for manufacturers to reduce downtime and prevent total machine failure. However, these powerful programs offer another unique benefit; they can help manufacturers move more of their staff to remote operations. Independent spindle repair companies, such as GTI Spindle, can seamlessly tie their repair service into an existing predictive maintenance program by providing critical vibration analysis data on all repaired equipment.
Contact the professionals at GTI Spindle Technology to learn how you can leverage our expertise and spindle repair services to strengthen your position in such an unpredictable market.
About GTI Spindle Technology
At GTI Spindle Technology, we specialize in high-quality spindle diagnosis and repair. Getting your business back into full operation and minimizing downtime is our mission. We offer in-house, on-site, and emergency assistance for machine tool spindle failure analysis, spindle repair, and complete spindle testing. With an extensive range and expertise in a diverse group of industries, our customers know that they are getting the highest quality of spindle repair and customer service. Click here to find out more.