In the past, small and medium-sized companies have repeatedly demonstrated their flexibility and innovative strength. They are more agile than large companies and decision-making processes are shorter. It is now time to exploit these strengths in order to find strategically sound solutions for the weak points that have become visible in recent years. Here are a few ideas that might be worth thinking about.
For companies that have had or are still having problems with procurement, I recommend that they reconsider their procurement strategy. Instead of “mainly cheap”, depending on the sector, it could now be time to bring more suppliers on board and diversify regionally and internationally. Because of your expertise, you can also involve suppliers as partners to solve joint problems and form strategic alliances. Exploiting synergies is often neglected, especially in procurement. In this way, great opportunities are missed, which help to reduce supply bottlenecks.
Semiconductors, packaging materials, euro pallets and much more: Did disrupted supply chains lead to bottlenecks for you during the pandemic, meaning that you had to buy at overpriced prices? Then it might be time to think about safety stocks, at least for critical components that are essential for your production and supply security.
Digitalization got a boost in almost all companies during the pandemic. In the future, too, many employees would like to spend at least part of their working time working from home. So why not cancel or sublet office space that has become redundant to reduce rents and operating costs? I recommend that manufacturing companies check whether it pays off to invest in automation. Both — digitization and automation — helps you to use existing personnel more flexibly.
Producing and working in a resource-friendly way — the topic sustainability will keep us all busy in the coming years. Have you already embedded sustainability into your corporate strategy and have a sustainability officer who initiates and records improvements across all areas of business? Small and medium-sized companies in particular can thus strengthen their reputation and increase their attractiveness for customers and potential employees. That is why sustainability is also the main topic of my next newsletter.
From my consulting practice, I know that every company works differently, even if it comes from the same sector. Standardised solutions are therefore not possible. It is important to be open to new ideas, even if they are not “homemade.” My new hybrid consulting model offers you support here. A non-binding and free introductory conversation gives you initial ideas as to how things could continue for you. Make an appointment now.
