During slow economic times, companies should focus on optimizing operations through: 1) Deep analysis of financial data to identify most profitable customers and expenses. 2) Housekeeping through organizing machinery, tools, and inventories to increase efficiency. 3) Updating standard operating procedures and ensuring employees understand through demonstration. 4) Encouraging knowledge sharing and cross-training across departments to improve understanding of end-to-end processes. 5) Supporting low-cost creative activities to boost morale.

1. 5 Things Companies Should Do
in a Slow Economy
Gede Manggala

2. Not so much to do?
Not really.
During a slow economy or
when sales is low, there are
some opportunities that
companies could do.
Here are 5 things to do.
Notes:
Cutting coffee supplies OR
headcounts are not on this
recommendation list

3. 1. Deep Learning on
Company's Financial Data
It's time to challenge your most
brilliants talents and the brightest
managers to jump deep dive on
your company's financial data.
Is every customer profitable?
What % of your customers
contributes to 80% of the company's
profit?
Were the marketing expenses worth
the past 3 years growth?
"Customer" term here could be replaced
with branch, area, oil/gas well, product, etc.

4. 2. Housekeeping
Go out. Visit your factories and
workshops. Go to the fields.
Managers, supervisors,
employees: roll your sleeve.
It's time to do housekeeping and
organised your machines,
equipments, tools, inventories.
Sort the needed and the unneeded
items.
Organize them for easy access and
usage.
If painting is too expensive, just
clean them

5. 3. Take Care the SOP
Are they up-to-date to
the processes in the
field?
How do we measure
and track?
Does the SOPs have
simple work instruction
or checklist?
Could we refresh the
SOP for our employees;
and including "tell,
show, and illustrate" the
procedures?
Does any procedure
need revision?

6. 4. Encourage Knowledge Sharing & Cross-Training
This is the perfect time to understand the big picture.
Marketing-Design-Engineering-Production-Supply Chain Management to
conduct knowledge sharing sessions; even better, create a cross-training
program. Understand the end-to-end process of your company.

7. 5. Support Creative and Inexpensive Activities
Ask the millennials in
your companies to lead
this.
Family Gathering
Mini Olympics
Hackathon
etc
(as long as it's fun and
not expensive)

8. The period of a slow business could be a great
opportunity for us to prepare for the upcoming fast race.
Let's do it.

9. Lead consultant of Edraflo, a business process design & improvement firm
edraflo.com
Gede Manggala