The COVID-19 pandemic brought the world to a stop. Industries everywhere faced unprecedented disruption, especially manufacturing. Now more than one year later, governments are slowly opening their countries \u2014 but the effects of the pandemic still pose real challenges for businesses. <\/p>\n\n\n\n
In April 2020, total industrial capacity utilization fell to 64.1 percent, though it was back to 74.5 percent by the end of the year. Despite the uptick, that figure was still below the 77 percent capacity utilization from the same time in 2019. Currently, Deloitte anticipates annual manufacturing GDP growth to increase 3.5 percent<\/a> in 2021. COVID-19 also resulted in a significant decline in industrial jobs \u2014 employment levels as of December 2020 were 543,000 lower than February of that year.\u00a0<\/p>\n\n\n\n From supply chain delays to labor market instability to thin profit margins, manufacturing faces more challenges than ever in 2021. Here\u2019s how to overcome this year\u2019s difficulties \u2014 and why Master Fluid Solutions<\/a> can help.<\/p>\n\n\n\n <\/p>\n\n\n\n Supply chains from China were completely cut off at the start of the pandemic, forcing manufacturers to find other material sources. Even with borders open again, ongoing trade wars are causing steel prices and other metals to fluctuate. Labor costs \u2014 which generally comprise 31 percent of a budget \u2014 are also in flux due to market instability. <\/p>\n\n\n\n Labor and workpiece materials are among the biggest expenses for a manufacturer, which is difficult considering the constant shift in today\u2019s pricing. Another major expense is fluid costs. However, manufacturers can rely on Master Fluid Solutions\u2019 TRIM\u00ae<\/a> line of cutting fluids, which remain unchanged throughout the pandemic \u2014 both in cost and quality.\u00a0<\/p>\n\n\n\n <\/p>\n\n\n\nHigh-Quality Cutting Fluids Anchor Fluctuating Budgets<\/h2>\n\n\n\n
Coolant Management Training Saves Money <\/h2>\n\n\n\n