Restructuring allows companies to adapt to changes in market conditions and ensure long-term sustainability.
This way, they improve their competitiveness and can adapt to evolving market dynamics.
Economic fluctuations, market saturation, and global events, such as geopolitical instability and pandemics can severely impact industrial companies, in particularly car manufacturers and their suppliers.
Turnaround and restructuring efforts in the manufacturing industries are essential for companies to navigate challenges, remain competitive, and seize opportunities presented by technological advancements and shifting market dynamics.
Streamlining operations often involves downsizing and retraining the workforce. Handling employee morale, retention, and potential backlash is a delicate process that must be managed effectively.
Implementing lean manufacturing principles, such as reducing waste and optimizing processes, can enhance operational efficiency while maintaining product quality. An important aspect is retraining and upskilling employees to equip them with the skills required for the evolving technological landscape.
Overcoming the challenges of financial constraints, workforce management, operational efficiency, and portfolio adjustment requires a strategic approach, careful planning, and effective execution.
Collaborating with technology companies, suppliers, or other manufacturers can provide access to essential resources, technologies, and expertise needed for transformation.
The automotive industry for example is currently witnessing rapid technological advancements, particularly in electric vehicles and autonomous driving.
Companies that fail to adapt risk obsolescence, making restructuring crucial for staying competitive. Fierce competition, both from established manufacturers and new entrants in the electric vehicle space, requires existing car manufacturers to reassess their strategies and operations to maintain their market positions.
One site of a multinational industrial company has been burdened by increasing losses for years. These losses are due to a continuously decreasing order backlog and high fluctuations in capacity utilization.
Very assertive employee representatives and networks with local decision-makers and suppliers that have grown over time have hampered cost reductions.
Chief Executive Officer
PhD and MS in Industrial Eng. from RWTH Aachen, MS in Mechanical Eng. from Dartmouth College (US). Extensive leadership experience from market-leading companies.
Core competencies: Automotive, Operational Excellence, Restructuring, Expert for Eastern Europe business strategies
Chief Financial Officer
Andrea has worked on international projects in various service sectors. Extensive experience in internal service organizations and process development.
Core competencies: Process development, Internal regulations, Restructuring, Project Management
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