The corona pandemic and its effects
Like many other market players, textile machine manufacturers are affected by the corona pandemic and the associated economic consequences.
The corona pandemic is accompanied by a downturn that already began in the industry in 2019 after the ITMA Barcelona in June. The main reasons for this downturn were the US-China trade war, sanctions against Iran, reluctance to invest as a result of Brexit, and weak growth in the Chinese economy.
Switch to “survival mode”
Many textile machine manufacturers have switched to a survival strategy since the outbreak of the pandemic. Different immediate measures were taken. Basically, attempts were made to secure the business-critical processes and the supply chains, followed by cost-cutting measures to maintain liquidity. Many have introduced short-time working to keep workers employed.
Forward to a new normal
Step by step, the restrictions imposed by corona are being loosened, while still maintaining hygiene and distance rules. The road to a “new normal” may still take months and it will not be the same as it was before the pandemic.
It can be assumed that customers will develop a greater awareness of risks. Supply chains are being re-thought, and regional procurement will play a more important role. Regional partnerships will be increasingly formed in order to use and expand common strengths.
The need for digital services, especially remote access options to installed machines, will increase. The cost-cutting measures taken will initially be followed by moderate and sustainable investments in the performance and quality improvement of existing systems.
Digitalization
Traditionally oriented companies have recognized that digitization is not just a catchphrase, but that also increases the benefits in many areas. Processes can be carried out successfully and sometimes even more efficiently than before, regardless of the location of the employees.
The corona pandemic has kicked-off an acceleration for remote collaboration.
What can we do for you?
We offer Industry 4.0 scenarios in the field of warp thread feeding in ribbon weaving mills with little effort. The advantages of our solutions are quality increases, cost reductions, process data acquisition and support via remote diagnosis and remote maintenance programs.