steel manufacturing companies Archives - Business Intelligence

Tag: steel manufacturing companies

Canadian steel manufacturing

Preparing a Canadian Steel Manufacturing Industry Client for the Post- COVID-19 Era with Custom Market Intelligence Solution

Canadian Steel Manufacturing Industry Overview

As the COVID-19 pandemic shows no signs of slowing down, companies in the Canadian steel manufacturing industry are facing operational and financial challenges. Also, travel restrictions, quarantines, and workforce shortages are increasing challenges for companies in the Canadian steel manufacturing industry to fulfil their contractual obligations to their existing customers. Besides, supply shortages, fulfillment delays, and increasing transportation costs are making it difficult for steel manufacturing companies to maintain profitability. As such, manufacturing firms will need to look beyond their own economic viability and plan for the post-COVID-19 era.

This success story provides comprehensive insights into how Infiniti’s custom market intelligence solution helped a Canadian steel manufacturing industry client to centralize cash management, reassess business plans, build a resilient supply chain, and prepare for the post-COVID-19 era.

How can companies in the Canadian steel industry prepare for the rebound and ensure business continuity? Our market intelligence solutions can help clients in the steel industry to understand the change in volumes and values post the COVID-19 crisis. Request a FREE proposal.

Business Challenge

Our client, a Canadian steel manufacturing company, witnessed continued downward pressure on the product demand owing to the COVID-19 crisis. Also, the client faced cash-flow liquidity challenges and difficulties in managing debt obligations. Besides, the Canadian steel manufacturing industry client encountered continued weakening links in their supply chain as some of their vendors and suppliers faced operational challenges. Consequently, the client witnessed a decline in sales by 60% compared to previous months. This subsequently impacted the company’s profit margins. They wanted to revamp their traditional operating model, address technology gaps, and build business continuity strategies to succeed in the post-COVID-19 world. They chose to partner with Infiniti Research to leverage their expertise in offering market intelligence solutions.

Other key objectives of the Canadian steel manufacturing industry client were:

  • Identify potential market risks and devise contingency plans in case of unexpected disruptions
  • Reengineer their supply chain and build a resilient supply chain for the future
  • Increase real-time visibility into every part of the supply chain
  • Rebuild demand forecasting and capacity models for developing resiliency in the face of future demand shocks

For a detailed evaluation of the impact of the coronavirus outbreak on your business operations, contact us here.

Our Integrated Approach

In the initial phase, the experts at Infiniti Research worked closely with the Canadian steel manufacturing market client’s production, sales, and financial team to understand the extent of the impact caused by the rapidly spreading COVID-19 pandemic. Also, the experts reviewed the company’s capital and corporate cost budgets to identify marginal investments. After conducting a thorough analysis, the experts helped the client to devise strategies and plans to retain and deploy the workforce during the slowdown. In addition to this, the experts helped the client to evaluate automation solutions to reduce the number of workers on the factory floor.

In the next phase of the engagement, the experts identified potential weak lines in the supply chain, especially in regions already affected and likely to be impacted by the COVID-19. Also, the experts identified vendors and suppliers to help the client with their raw materials requirements. While selecting vendors, the experts assessed factors such as potential exit charges, permanent establishment status, and preservation of tax attributes on the movement of goods.

The final phase of the engagement involved experimenting with radical designs of supply chain models and building a resilient supply chain.

Business Outcome

By leveraging Infiniti’s market intelligence solution, the client was able to identify divesting non-core and underperforming assets and identify new ways to reduce cash outflows. As recommended by the experts at Infiniti Research, the client outsourced some corporate functions and achieved a reduction in operating costs. Besides, the Canadian steel manufacturing industry client was able to devise risk mitigation programs for employees who worked on-site.

The experts also helped the client to identify potential weak lines in the supply chain and devise supply chain risk management strategies. Furthermore, by closely reviewing inventory position and assessing supply chain complexities, they were able to adjust inventory for the post-covid-19 period. In addition to this, the client was able to revamp their traditional operating model, centralize cash management, address technology gaps, and build business continuity strategies to succeed in the post-COVID-19 world.

Want to know more about our COVID-19 business continuity support solutions? Request more info here.

Company Profiling + Heavy Equipment Manufacturer

Taming Sales Complexity in the Manufacturing Industry

As the growth of the manufacturing industry continues to soar, it is natural that the buying processes involved have consequently become more complicated, lengthier, and involving more stakeholders in the sales cycle. While growing manufacturing companies make supplier collaboration and diligence on the manufacturing floor a top priority, eliminating complexity from customer-facing processes often takes a backseat. Furthermore, as product portfolios grow broader, multi-year service contracts are becoming the new normal and shorter product lifecycles are bound to make the sales manager’s job in the manufacturing industry even more challenging. Based on our expertise in helping manufacturing sector clients to overcome similar challenges, we have listed out some ways by which sales managers in the manufacturing industry can overcome complexities.

Want to learn more on how sellers in the manufacturing sector can better keep up with the rapid changes in buyer behavior? Request a free proposal for comprehensive insights on our solutions for companies in the manufacturing industry.

Communicate with decision-makers

Generally, most B2B purchases in the manufacturing sector involve at least five or more people. Each of these stakeholders will also be in charge of different teams that could influence their key decision-making. It is vital for the sales team in the manufacturing sector to be able to gain a comprehensive understanding on the company including its culture, goals, and what support their primary contact needs in order to get others onboard. A best practice here is to think through the mind of the buyer and how they would convince their team about your products. If the key questions of the key stakeholders can be effectively taken care of, then it becomes for easier for sales managers to close the deal.

Customize based on the requirement

Different internal stakeholders in a buying organization will have different requirements. As such, the one-size-fits-all approach here could prove to be ineffective. Therefore, it becomes essential for manufacturers to tailor experiences for different stakeholders. A good majority of B2B buyers will be willing to pay more for a great experience while making a purchase, making this a crucial factor for companies in the manufacturing industry to consider.

Request a free brochure to learn more about our solutions and how we help our clients tackle key business challenges.

Leverage consumer insights

Sales managers in the manufacturing industry must leverage appropriate customer relationship management tools. This will help them prevent losing valuable customers to competitors. Modern CRM systems have the ability to track which content has been sent to a contact, and when coupled with a sales Enablement platform, can track which parts of this content have been read and which works best for certain sectors. When used together, CRM and sales Enablement can help marketers and the sales team to analyze and understand how best to influence prospects.

How can you accelerate your company towards more strategic initiatives in the manufacturing industry? Get in touch with an expert to find out.

Reviving the US Manufacturing Sector

MANUFACTURING

The erosion of the US manufacturing sector over the past couple of years have been a big blow on the growth of the US economy. Small and midsize manufacturing companies are the most affected, while large companies in the US manufacturing sector have managed to thrive despite the growing headwinds. Although it is widely believed that little can be done to put an end to the ongoing decline of US manufacturing sector, continued losses are not a foregone conclusion. On the brighter side, the rising demand, productivity gains through technology, and finding growth in new parts of the value chain will likely create an opportunity for the US manufacturing sector to turntables. Given how vital manufacturing is to the broader economy, capitalizing on these opportunities must be given national priority.

We examine some of the key factors that will fuel growth in the future of manufacturing in the United States and how manufacturers can leverage this opportunity to revitalize their business.

Attaining success in the manufacturing industry involves the use of market research, demand forecasting, product development, and distribution. Facing predicaments in handling it all by yourself? Request a free proposal from Infiniti’s industry experts to learn how we can help you.

manufacturing sectorGrowing demand

Although the US market is not the same familiar ground it was in the past, it remains one of the most developed and lucrative markets in the world. Furthermore, the US consumers are more diverse and expect higher quality and varieties at lower prices. Beyond the domestic market, the demand is also soaring in developed and emerging economies around the globe. However, for tapping into demand growth in emerging economies, it is vital to know exactly where and how to compete. Markets including Africa, Brazil, China, and India represent enormous opportunities, but they have dizzying regional, ethnic, linguistic, and income diversity. This translates to the fact that manufacturing sector companies must navigate greater complexity than ever before and identify the most feasible strategies to produce a wider range of product models with differing features, price points, and marketing approaches.

Industry 4.0

In order to enhance productivity, the US manufacturing sector must capture demand opportunities coming their way. Innovative technologies will play an integral role in determining how effectively they can achieve this and compete better in the market. The rise of industry 4.0 in the US manufacturing sector is largely driven by the increase in volume of data available, new forms of human–machine interactions such as the use of AR, and the ability to transmit digital instructions to the physical world. These advanced technologies are designed to run smart, cost-efficient, and automated plants that produce large volumes or plants that produce highly customized products.

Rethink and reinvent your business strategies with advanced market intelligence solutions. Get in touch with us to learn how our manufacturing sector experts can help your organization achieve this.

Rethinking business models, footprint, and sourcing

US manufacturing sector companies are seeking new ways to capture value beyond traditional production processes. Moreover, with changing input costs, the gap between labor cost in the US and abroad have also narrowed and the cost of industrial robots are rapidly falling. As a result, several US manufacturing sector companies are moving their manufacturing base to the home country. Advancements such as the internet of things and robotics can effectively handle dangerous tasks and eliminate safety risks. Beyond the factory floor, new applications for coordinating distributed supplier networks improve the flow and tracking of raw materials and manufactured parts.

Want more insights on our solutions for the manufacturing sector?

us steel industry

A Canadian Steel Company Realized an Increase in Profit Margins by 19% with Infiniti’s Market Intelligence Engagement

US Steel Industry Outlook

The US steel industry is currently witnessing a period of low growth that has put pressure on steel prices and created uncertain demand in the market. In addition, the lack of supply chain visibility, increasing price volatility, and overcapacity issues are presenting additional challenges for companies in the US steel industry. Consequently, companies in the US steel industry are compelled to streamline operations, improve supply chain visibility, and efficiently tackle challenges coming their way.

Our market intelligence experts can help you identify market opportunities and forecast the market potential for your products and services. Request a FREE proposal!

Business Challenge

The client is a full-service steel manufacturer and distributor based out of Canada. The client serves industries such as manufacturing, construction, and mining.

A well-known Canadian steel manufacturer wanted to identify the potential for their steel product in the US steel industry. Also, the client wanted to understand the competitive landscape in the US steel industry and gain insights into the market potential and top players in the US steel industry. Furthermore, the client wanted to gain an understanding of the US steel market landscape by understanding factors including investment environment, industry development, supply-demand conditions, and industrial capacity. As such, the client approached the experts at Infiniti Research to leverage their expertise in offering market intelligence solution.

Are you well prepared to meet the rising market demand for your products and services in today’s competitive marketplace? If not, CONTACT US to know how our market intelligence solution can help you capitalize on new opportunities, mitigate risks, and anticipate challenges coming the way.

Furthermore, with Infiniti’s market intelligence engagement, the client also wanted to:

#1: Evaluate long-term sales potential for their product in the US steel industry

Due to slowing growth in the construction and manufacturing industry in China, steel manufacturers in the Chinese market were prompted to sell their excess inventory to steel companies in other countries at a significantly subsidized price. This subsequently affected the business in the local markets of other nation as it greatly saves on operational cost. Furthermore, the fall in the prices for steel products resulted in the shutdown of many steel producing plants in the US steel industry. The client, therefore, wanted to understand the opportunity for their products in the US and also evaluate long-term sales potential.

#2: Understand the impact of emerging regulations

The increasing import tariffs and initiatives to implement import duties on steel and aluminium could impact the global trade and relationships between countries. Hence, with Infiniti’s market intelligence engagement, the client wanted to understand changes in emerging regulations in the US steel industry and other related markets.

#3: Identify right suppliers

The client noted that usage of low-quality raw materials negatively impacted the production processes of US steel manufacturing companies. Furthermore, higher greenhouse (GHG) emission caused due to the usage of low-quality raw materials caused environmental disruption and higher energy consumption. The client, therefore, wanted to identify the right suppliers to provide high-quality raw materials in the US steel industry.

#4: Reduce supply-demand mismatch

With over 30% of the US steel industry’s revenue being generated from the oil and gas market, the supply-demand gap in the oil and gas market directly impacted overall growth of companies in the US steel industry. Hence, the client wanted to accurately forecast the supply-demand requirements and enhance their supply chain visibility.

Request for more information to gain more insights into our solutions for companies in the steel market.

Solutions Offered

With over 15 years of expertise in helping companies devise a market entry plan, our experts helped the client to gain an in-depth understanding of the US steel market landscape. Factors such as market potential, investment environment, market developments, and supply-demand requirements were taken into consideration during the analysis.

As a part of the market intelligence engagement, the experts conducted a market potential analysis. Our market potential analysis helped the client to evaluate the potential demand for their products in the US steel industry. Furthermore, the client was able to evaluate the sales potential for their steel products for the next five years. The experts also analyzed the US steel industry size.

The next phase of the engagement involved US steel market scanning and monitoring. This helped the client to understand the changes and emerging regulations in the US steel industry and other related markets. Also, the client was able to understand the potential impact of changing factors on business segments.

The next phase of the engagement involved supplier identification and profiling. In this phase, the experts helped the client to select the right supplier by evaluating their cost, capabilities, and experience.

Also, the experts conducted competitive intelligence engagement to help the client understand the business strategies of top steel manufacturing companies in the United States. This helped them to identify the strengths and weaknesses of their key competitors.

Furthermore, the experts conducted a supply and demand analysis to help the client in identifying target stock levels to meet the rising demand for steel products in the US steel industry. And, the experts analyzed the US steel industry growth rate for the next five years.

Results Obtained

With the insights obtained from Infiniti’s market intelligence solution, the client was able to devise a go-to-market strategy and identify the best route to enter the US steel industry.

With Infiniti’s market intelligence engagement, the client was able to gain detailed insights on the market demographics and US steel industry’s competitive landscape. This helped them to successfully establish their base of operations to the United States. And, within one year, the client realized an increase in their profit margins by 19%.

Learn more about how Infiniti’s solutions can help overcome challenges in retail. Request a FREE brochure

Close
Infiti Logo

Hello there!

Contact us to know more about our cost-effective custom market research offerings to support efficient market penetration, new product launch, and devise strategies to monitor and outperform your competitors.

Cookie Policy

The Site uses cookies to record users' preferences in relation to the functionality of accessibility. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice