Managing the Unique Challenges of the Rapidly-Changing Manufacturing Industry

When the average person thinks about the manufacturing industry, they might picture large corporations producing massive quantities of products. However, small and medium-sized businesses make up a substantial portion of the modern manufacturing industry. In fact, it is estimated that over 98 percent of manufacturing companies in the U.S. are small businesses, and more than 75 percent of these companies employ fewer than 20 workers. If you are a small business owner or business leader in the manufacturing sector, it is important to keep up with the rapidly changing landscape of American manufacturing.

Ensuring That Employees and Customers Remain Vigilant Regarding Health and Safety

Whether you bake cookies, design custom apparel, produce wine, or create unique home goods, the COVID-19 pandemic is sure to influence your manufacturing business. Today’s consumers are hyper aware of health and safety concerns. They want to know how products are manufactured and exactly what steps are being taken to prevent the spread of disease.  Although the COVID-19 vaccine is now widely available and many people are getting back into their pre-COVID routines, this is no time to be lax regarding safety. Instead, ensure that you and your employees continue to follow best practices when manufacturing products and interacting with customers.

Protecting Your Company from Lawsuits

According to the National Law Review, over 130 COVID-related complaints have been filed against manufacturers in the past year. Most of these lawsuits fell into the categories of discrimination, disability, retaliation, workplace safety, wage law violations, and contract disputes. A lawsuit of any kind often represents a massive blow to a small business. One of the best ways you can protect your company from lawsuits is to work regularly with a skilled business lawyer. Outsourced general counsel is a cost-effective option for many small manufacturing companies who want to ensure that they are avoiding legal mistakes that could leave them vulnerable to lawsuits.

Digitizing Your Manufacturing Company to Maximize Profits

The days of paper and pencil bookkeeping and inventory are numbered, if not over entirely. Savvy business leaders are relying on cloud-based online services now more than ever. More and more companies are also relying on online sales—especially in the age of COVID-19 concerns. If your company does not have an option for customers to buy items online, you are missing out. One report showed that consumers spent a staggering $900 billion more at online retailers in 2020 than they did in the previous two years. While some shoppers are now returning to brick-and-mortar stores, online shopping is expected to continue to increase in popularity even after the pandemic subsides.

Call Us Today

As the manufacturing industry changes, so must business owners and business leaders in the manufacturing sector. Digitizing inventory and sales, protecting your business from lawsuits, and prioritizing health and safety are key. If you are interested in protecting your manufacturing business or you have other business law needs, contact a Naperville manufacturing lawyer at the Gierach Law Firm today. Call 630-228-9413 for a consultation.

Sources:

Forbes

National Law Review

Associated Press