Issue: The West Midlands has traditionally been a proud UK centre of manufacturing. A small component maker was faced with declining orders and a lack of growth. The company was concerned about the impact of political developments, specifically Brexit.
Approach: I conducted an appraisal of the business in order to strategically improve the situation. This included looking at growth potential for product lines, new product lines, cost factors and markets. This revealed that the business had the capacity to extend and part-automate medium margin lines and explore higher margin lines, with some business leads in overseas markets. The image of the company was dated and sales very much depended upon repeat business.
Outcome: The plan gave scope for the components firm to take some major decisions. By automating some areas, it was able to deploy skilled staff in more high tech areas. By building a small product range with selected overseas customers and capitalising on exchange rates, the business gained a foothold as a quality supplier of high quality British components in emerging sectors. Furthermore, the business was able to re-brand itself and access financial and other support by moving into higher-tech, high-growth areas.