The cost of living crisis is a real and pressing issue for the UK. The cost of basic necessities, such as food, housing, and utilities, has been rising much faster than wages and spending, leaving many people struggling to make ends meet. This crisis is particularly severe for low-income and working-class families, who are struggling to afford the basics.
The same can be said for many SME businesses, after a period of covid related lockdowns that disrupted supply chains, then came the large-scale Russian invasion of Ukraine, shortly followed by Government sanctions on international trade. All the while Brexit has been running in the background. The industry as we know it has been affected and needed to adapt.
If your business is experiencing a downturn in sales and production performance, redundancies and downscaling are not the only way. By making redundancies your business will shrink and start a cycle of not being able to keep up with current demand, therefore losing sales and repeating, and crippling any growth ambitions. In order to survive and thrive another solution is business transformation, removing cost from your processes, and increasing throughput and quality while applying the newly freed-up resource to work on creative sales campaigns, product and process improvements that link effectively with your long-term goals and strategy. Improve your margin not through hard-fought increased turnover, but by benefiting from efficiency, productivity and utilisation gains in your processes.
Start by analysing the demand profile of your products and services, then utilise process mapping to understand the current value stream inefficiencies. Before using kaizen events to engage your people and make improvements. Consistently practice this method to develop a new Continuous Improvement culture and in just a few months you will be operating lean ahead of your competition and back to growth.
Contact us to understand more about business transformation projects, what solutions there are to your process problems and how to get your business to fighting fit.
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