The manufacturing industry has witnessed significant transformation in recent years. The advent of the Industrial Internet of Things (IIoT), smart factories, and automation has helped companies improve efficiency, tackle various supply chain challenges, overcome production and development roadblocks, and hire more skilled labor. As the industry continues to grow, many companies are struggling to keep pace with the fast-paced market and conduct a necessary risk assessment, to identify and address obstacles, and challenges.
There has been a significant upsurge of demand in the heavy equipment manufacturing market, and manufacturers need to maintain proper demand management, risk management, and supply chain systems. The first step to maintain visibility, transparency and business continuity in the industry is to leverage risk assessment solutions, mitigate potential challenges, and secure operational efficiency. Infiniti’s market research experts help heavy equipment manufacturers identify, evaluate, and address various market risks with comprehensive risk assessment solutions, actionable insights, and unparalleled strategies.
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The client is a renowned heavy equipment manufacturer based in the APAC region. It produces a range of equipment for construction and mining companies in various countries and sought to ensure efficiency by tackling all potential market risks due to the industry’s constant changes.
The client witnessed numerous significant changes within the industry and wanted to develop efficient management systems to avoid negative business implications on their stable growth. The heavy equipment manufacturing firm had experienced a significant upsurge in demand due to the rise in urbanization, government investment in construction, and infrastructure improvement in developing countries. However, heavy equipment market players struggled to keep pace with changing regulations, employee and labor safety concerns, and shortage of skilled labor. These challenges caused substantial risks such as hampering production due to non-compliance, potential legal issues due to injury, and inability to maintain operational efficiency across the supply chain. Therefore, the client sought to leverage Infiniti’s leverage risk assessment and management solutions.
Although demand has risen significantly, heavy equipment manufacturers face a variety of industry risks and challenges constantly. Request more information to learn how our risk assessment solutions mitigate potential losses, improve efficiency, and maintain a strategic edge.
Our Risk Assessment Engagement Approach
Infiniti’s market research experts developed a detailed risk assessment engagement to help the heavy equipment manufacturer overcome industry challenges and potential risks. The approach included four phases.
Our experts conducted in-depth qualitative and quantitative research to help the client identify industry developments, trends, changing regulations, and growth drivers in the market. Additionally, through comprehensive discussions with industry stakeholders and relevant data from reliable secondary sources, Infiniti’s market research experts provided the clients with clear insights into the impact of various factors on businesses within the APAC heavy equipment manufacturing industry.
In the second phase, Infiniti’s experts conducted an industry best practices assessment to identify industry leaders and competitors’ successful safety and supply chain strategies, help the client address weaknesses within their supply chain, and develop data-driven strategies to mitigate future complexities.
A risk assessment analysis helped the experts identify and highlight the significant risks impacting the heavy equipment manufacturing industry, including constantly changing safety regulations in different countries and import policies. The risk assessment also aimed to identify factors causing raw material price fluctuations and evaluate reasons for the shortage of skilled labor and high employee turnover within the industry.
The last phase included developing risk management systems to help the manufacturing firm tackle various labor, safety, regulatory, and financial challenges. Infiniti’s experts provided data-driven recommendations to enable well-informed business decisions and mitigate risks.
Business Outcomes of the Risk Assessment Solutions
Infiniti’s comprehensive risk assessment engagement helped the client preemptively tackle potential industry challenges, predict and overcome sudden changes, and maintain efficiency along their supply chain. The heavy equipment manufacturer successfully identified, evaluated, and formulated strategies to tackle industry risks with our experts’ insights. With a robust guide to various country policies and a system to track and understand changing regulations, the company avoided sudden production challenges and maintained productivity. Additionally, they developed methods to attract and retain skilled labor, improved employee policy, ensured better employee safety, and mitigated the possibility of injuries. The risk assessment solution also helped the client identify industry best practices, adopt effective strategies to maintain supply chain and operational efficiency, and produce high-quality offerings with improved speed-to-market. The engagement enabled improved productivity, higher profitability, comprehensive risk management systems and helped the client realize significant savings by preparing for price changes and overcoming supply chain shortcomings.
Speak with our industry experts to leverage our risk assessment solutions and develop data-driven systems to mitigate risks, increase profitability, and maintain supply chain efficiency.