Experience matters most during times of change

There is something to be said about the grit and determination of a business that has some longevity.

Riding out industry downturns so you can celebrate the good times is an emotional/economic roller coaster that not all manufacturers can handle. For some, their shops are legacies of their family’s journey, to be held on to at all costs. For others, they are investments, simply part of a larger portfolio that are just profit or loss centres.

This year, Canadian Metalworking will talk to and visit manufacturers that recently have celebrated 40, 50, and even 60 years in business.

Longevity is a testament to a business’s resilience and adaptability. In an industry marked by rapid technological advancement, shifting market demands, and a worker shortage, longevity shows a company’s ability to evolve and even thrive amidst the chaos of change. It reflects a history of overcoming obstacles, learning from failures, and continuously improving.

An example of longevity in Canada’s manufacturing ecosystem is machine tool distributor Thomas Skinner. This year, the western Canadian supplier celebrates a staggering 120 years of providing the industry with metal cutting technology. We are talking about going from the era of belt-driven, even foot-powered lathes to the rise of artificial intelligence and everything in between.

The importance of longevity—and the experience it brings—cannot be overstated. It’s comforting to deal with a company that has been in business for longer than I have been alive. That comfort is generated by in-house experience.

Experience is the hard-won wisdom gleaned from years of work. In your shop, it’s as much of an asset as your machines. Experienced workers give manufacturing businesses the knowledge to tackle new challenges, innovate processes, and deliver high-quality parts on a consistent basis.

The process of making parts demands a deep understanding of different materials, tools, techniques, and machinery. And this only comes with experience.

Experienced businesses often lead the way in adopting best practices, setting industry standards, and driving innovation. They are able to take on these big-picture activities because their longevity has created stability.

With the advent of Industry 4.0 and the integration of digital technologies, businesses with a solid foundation of experience are better positioned to leverage these advancements. Their longevity will enable them to navigate this digital transformation with confidence, ensuring the continued prosperity of the business.

However, experience is lost as workers retire, which is why it’s important to start your digital transformation now.