Manufacturers invest millions of dollars in resources such as machinery, tools, workforce, products, and more. While these resources are necessary for manufacturing companies, they also pose risks for manufacturers. The smallest risks in operations, ranging from theft and property damage to workforce disruptions and natural disasters can heavily impact not only a manufacturer’s bottom line but their ability to deliver goods for clients on time and on budget.
A leading machinery manufacturer in Canada wanted to develop a new strategy to manage risks affecting the growth of the industry and implement appropriate policies and organizational structures to achieve their strategic objectives.
With years of expertise in offering actionable risk assessment solutions, Infiniti helps manufacturers to devise an effective risk assessment strategy. Request for a FREE brochure to know more about our services.
Top Challenges Faced by Machinery Manufacturers
Problem Statement 1: Commodity and raw material prices
Changes in the prices of raw materials raised the cost of production. This left no other choice for the organization but to raise their prices. In fact, the rise in prices affected their sales and reputation.
Problem Statement 2: Changes in laws and regulations
Changes in laws and legislation, such as minimum wage laws and overtime regulations increased costs rapidly. With Infiniti’s risk assessment solutions, the client wanted to stay prepared to face sudden transitions.
Problem Statement 3: Economic conditions
An overall recession or economic boom can influence the availability and prices of materials, consumers’ buyer behaviors, labor availabilities, and more. Hence, with the help of Infiniti’s risk assessment solution, the client wanted to understand the industry landscape thoroughly.
Problem Statement 4: Threats to international operations
The client was looking out to export their products to international markets such as the US and UK. But the changes in international trade agreements such as the US pulling out of NAFTA and the UK leaving the European Union were impacting manufacturing companies. The client, therefore, wanted to understand threats to international operations before making the market entry.
Interested to develop a risk assessment plan to deal with unexpected risks and stay ahead of your competitors – Contact us.
Solutions Offered and Value Delivered
Phase 1: Market analysis
By conducting interviews and discussions with leading market players in the industry, the experts at Infiniti Research helped the client understand price fluctuations. This helped them better manage their production process and deliver machinery on time.
Phase 2: Identifying changes in laws and regulations
By analyzing changes in regulations and laws in the US and UK, the experts at Infiniti Research helped the client make better business decisions. This further helped them manage their workers.
Phase 3: Sales forecasting
The experts helped the client calculate the average sales rate for the next five years. Also, with the help of Infiniti’s industry risk assessment solution, the client was able to gain a thorough understanding of the industry landscape.
With Infiniti’s risk assessment solution, the client was able to identify factors impeding market growth and implement an effective risk management strategy. Also, with the help of our industry risk assessment engagement, the client was able to monitor their market attractiveness. This further helped them to make checklists of potential risks and further devise effective measures to reduce bottlenecks and enhance their overall business efficiency.