Small and medium-sized enterprises have proven their flexibility and innovative strength time and again in the past. They are more agile than large companies, decision-making processes are shorter. The task now is to play to these strengths in order to find strategically sound solutions for the weaknesses that have become apparent in recent years. Here are some ideas that might be worth thinking about.
Procurement: exploring synergies
For companies that have had or are still having problems with procurement, I recommend rethinking their procurement strategy. Instead of “the main thing is cheap”, depending on the sector, now might be the time to bring other suppliers on board and diversify regionally and internationally. Suppliers can also be involved as partners due to their competencies in order to solve common problems and form strategic alliances. Exploiting synergies is often neglected, especially in procurement. This means that great opportunities are missed to help reduce supply bottlenecks.
Supply chains: Adjusting inventories
Semiconductors, packaging materials, euro pallets and much more: did disrupted supply chains cause bottlenecks for you during the pandemic, forcing you 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 your supply security.
Digitalisation and automation: investing pays off
In almost all companies, digitalisation received a boost during the pandemic. In the future, too, many employees would like to spend at least part of their working time in the home office. So why not terminate or sublet office space that has become redundant in order to reduce rents and operating costs? I recommend manufacturing companies to check whether it pays off to invest in automation. Both – digitalisation and automation – help you to deploy existing staff more flexibly.
Sustainability: Thinking about tomorrow today
Resource-saving production and work – the topic of sustainability will occupy us all in the coming years. Do you already have sustainability embedded in your corporate strategy and a sustainability officer who initiates and records improvements across all business areas? Small and medium-sized companies in particular can 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.
The crucial question: How does all this add up to a shoe?
From my consulting experience I know: every company ticks differently, even if it comes from the same industry. That’s why no standardised solutions are possible. It is important to be open to new ideas, even if they are not “home-grown”. My new hybrid consulting model offers you support here. A no-obligation and free get-to-know-you meeting will give you initial impulses on how things could go for you. Make an appointment now.