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November 28, 2016

4 Key Changes to Implement when your Manufacturing Business is in Trouble

Why do professionals in the Middle East manufacturing market think their backs are against the wall?

4 Key Changes to Implement when your Manufacturing Business is in Trouble
Cooper Fitch Dubai
Cooper Fitch Dubai
Cooper Fitch Dubai
Cooper Fitch Dubai

Amidst the global economic crisis, businesses and employees alike are feeling both confused and threatened by what has been going on, not knowing how to save themselves or their companies. According to professionals we constantly speak to in the manufacturing industry; numerous companies have been aggressively reducing headcount by up to 50% as a way to cut costs and save their businesses, while others have been formulating aggressive expansion plans for years to come which include building multiple new manufacturing facilities and hiring hundreds of highly paid professionals to run them. So what is really going on? 

The truth is, with the global crisis having continued for over two years now, only the companies that gave in to the threat of collapsing were the ones blown out of the water. Whereas the businesses that found the way out are indeed dominating the market and expanding vigorously. Christopher Walken once told a story that I would like to share with you; "two little mice fell in a bucket of cream. The first mouse quickly gave up and drowned. The second mouse wouldn’t quit; he struggled so hard that eventually he churned that cream into butter and crawled out". You see that is the right attitude towards dealing with a crisis, and that is what it takes to survive. So let me show you 4 ways to save your manufacturing business that might be in serious trouble.

Adapt or Perish. Innovate or Disintegrate
In this ever accelerating, ever changing the world we live in, if you fail to find a way to constantly challenge the status quo and become a change agent, you will eventually be booed off the stage. I know this is common sense for most people. But in this case, I am specifically addressing cost cutting. Instead of only focusing your innovation on coming up with new ideas for products with improved quality and increased cost effectiveness, why not invest the same amount of creativity in new ideas for cutting costs in a way that adapts to the changing market, without the need to downsize your business and lose your market share?

Sustainability is the new black
Whether it is adopting lean manufacturing, working with EHS to reduce your footprint or merely reusing your waste water, being sustainable is the way to survive in a world with such scarce resources and ever inflating economy. Having a team that is dedicated solely to making your business sustainable is not only a strong way of lowering your production and overall costs, but it proves highly effective in making your brand name more popular by having the greatest common purpose with everyone in this world which is saving our mother earth.

Increase the productivity of your workforce and let the robots do their thing
With the start of the age of automation and iRobots, machine capabilities have been growing exponentially every day and the need for human intervention in the production process is gradually dropping to zero. However, there are still things that humans excel in more than robots –at least for now– such as planning, innovation, and process improvement. So instead of wasting your time and money on imprisoned human talents who perform mundane standardised tasks, let them do what humans do best to revolutionise your business, and let robots be robotic.

Keep your friends close, your competition closer and marry your consultant!
In the Middle East, it is said that you always need a good doctor, a good dentist, and a great recruiter. Reason being that when things start going downhill, a great recruiter proves to be a powerful ally who gives you all the support you need to survive the storm. A knowledgeable market specialist will be capable of providing your business with the right talent needed to regain momentum and will be the perfect matchmaker in finding that one person who is comfortable being with their current employer but is secretly developing feelings for your company. After all, a partnership with a capable recruitment consultant is something you need to have established, yesterday!

So whether you are a professional whose company is too caught up in the headlights and you are looking for a change, or you are a business that is looking for the right change agents, now is the right time to get in touch with your specialist consultant.

Your comments and thoughts are highly appreciated. Feel free to leave a comment or drop me an email to share your thoughts about surviving the economic crisis as a business or as an employee in the manufacturing industry.

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