DECEMBER 20219MANUFACTURING TECHNOLOGY INSIGHTSThough Lorin's anodized aluminum products are typically used for high-end architectural and consumer goods applications, the same characteristics that made them idealfor these uses ­ lightweight, stable, stylish, and with an extremely durable finish ­ also made them ideal for the sanitizer stands. Lorin pivoted to begin producing more of the sanitizer stands, marketing, selling, and shipping them to customers across the country. We continue to manufacture the coil-anodized aluminum products that Lorin is known for in the architectural, automotive, and consumer goods markets, and now sell the sanitizer stands in addition to those product lines.Even though this particular case of moving into hand sanitizer stand production is specific to Lorinand a moment in history, there are a number of tips and lessons to be learned from this story for other companies looking to practice adaptability in order to maintain profitability during times of market upheaval.Tips for staying nimble1. Listen to customers: Experts from Lorin are in constant communication with customers, and are always looking for trends in the marketplace. Those trends begin to show where opportunities can takeshape, if manufacturers are paying attention. In this particular case, listening to customers also meant listening to the needs within our own company, and extrapolating what other companies in similar positions would need in the current moment of a "new normal" taking shape. More broadly, getting feedback from customers about their expectations and needs, as well as taking a step back to look at the industry in general, can point the way to new opportunities, markets, or ideas. 2. Efficiency: Times of upheaval and change require significant efficiencies and attention tobusiness practices. Lorin was careful while implementing this new project to manage cash flow and inventory effectively. What's more, our consistent practices of looking for opportunities to improve efficiency and effectiveness made a shift in manufacturing and business practices more feasible as a new revenue stream.3. Opportunities over Challenges: Changing your mindset about what constitutes a challenge and what can become an opportunity helps companies to be able to adjust to changing conditions. Even in this time of market shifts and downturns, leadership at Lorin was focused on how to move forward into new opportunities, not simply how to lock down as much existing business as possible despite market challenges.4. Communication is Key: Both internal and external communication is absolutely necessary to succeeding when manufacturing and business practices must be adapted to meet changing needs. Lorin's leadership ensured that communication among teams within the company, as well as between the company and its customers, remained robust even during periods of social shutdown and minimal in-person business opportunities. As a company, we focused on maintaining and improving relationships with employees and customers to reinforce connections, source new ideas, and provide support and innovation where necessary. Doing so has meant recognizing that the "new normal" in business is and must be different from prior communication practices, and moving forward with the most effective communication strategies for today's market, rather than yesterday's. 5. Grit and Determination: Adaptability requires grit to endure difficulty and determination to succeed. Choosing to be a victor rather than a victim of circumstances is critical to finding new paths to success and developing new opportunities as they arise. For Lorin, this has meant a determination to find and create solutions for ourselves and our customers, relying on a network of support among ourselves, suppliers, customers, and end users. ConclusionAdapting to new and necessary changes in manufacturing and business practices as market needs shift and change is a critical practice for businesses hoping to endure and succeed in today's world. Lorin Industries and its production of hand sanitizer stands is a key example of using existing resources and some additional found time during a market shift to develop new opportunities. Lorin's practices of communication and efficiency, along with mindset shifts towards opportunities and determination, can help any company to find new ways forward in this changing world. Adapting to new and necessary changes in manufacturing and business practices as market needs shift and change is a critical practice for businesses hoping to endure and succeed in today's world
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