Unsurprisingly, along with the travel industry, the manufacturing sector takes the top spot for one of the hardest hit industries as a result of COVID-19. Not only has revenue taken a blow, but personnel, operations and the supply chain have also been severely impacted.

In all of these cases, it’s important for manufacturers to identify the areas that have taken the biggest hit and understand what they need to do to overcome the obstacles the post-COVID-19 world will inevitably throw at them.

To get this right, manufacturers should look to follow a new recipe for success: a barrel of research, a large dose of development and a spoonful of entrepreneurship for good measure. 

Through research and development (R&D) tax credits, manufacturing businesses can start to investigate and innovate new ways of carrying out their business.

With Forbes expecting the manufacturing sector to experience five years’ worth of innovation in the next 18 months, learning about how your manufacturing facility can claim back on R&D investment now is sure to stand you in good stead for post-COVID recovery.

To help you understand where your manufacturing facility could be investing your R&D, we’re sharing a few project ideas sure to help you tackle the post-COVID-19 world head on.

Expand your digital capability 

A crucial part of building a resilient, post-pandemic manufacturing facility is finding ways to ensure data can be accessed digitally - ensuring you can act more quickly and effectively to post-pandemic problems.

This might involve creating and testing digital database systems that your colleagues can easily access. This type of R&D could also see you designing and implementing a digital strategy that would increase flexibility and value for both disrupted and base operations.

Focus on your workforce

Undoubtedly, one of the biggest impacts of the pandemic has been on the workforce. With remote working posing a challenge in the manufacturing industry, investing time, money and effort in developing a ‘workforce-first’ mindset is sure to benefit the long-term stability of your business.

This means working hard to research and develop safe working conditions, paying extra attention to unique PPE, social distancing protocols and employee mental health. To do this, time and money must be spent figuring out how to create a safe working environment to ensure the workforce is happy to return to (and stay at) work. This will help your business recover and adapt to the new normal.

Invest in automations and robotics 

With social distancing measures meaning fewer people will be able to operate in the same workplace at once, investing in an R&D project that will automate aspects of the manufacturing process will mean productivity isn’t impacted.

By developing a robotic or automated system that can ensure your production line doesn’t fall behind due to the new safety guidelines, you can rest assured your staff will remain safe while your business keeps ticking along.

As part of the manufacturing industry’s recovery, businesses implementing R&D projects in the coming days and weeks (rather than months and years) are the ones likely to prosper. But this can only be achieved when ample research and development has been carried out to a high standard.

With this process itself being costly - both in terms of material and labour costs - knowing if you’re eligible to claim back R&D tax credits is key.

Find out if your manufacturing project qualifies by getting in touch with one of our specialists at Lumo today.