Business Management Health Assessment (BMHA)
“Designed for the Manufacturing Industry”
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PARTNER MANAGEMENT & STRATEGIC PROCUREMENT
QUESTION => Manufacturers – Are you achieving 500% + on Overall Equipment Efficiency (OEE)? Are you achieving the planned ROI?
This week, we will focus on ACQUISTION & BUSINESS MARKETS and their influence on many aspects of your manufacturing environment affecting business goals and growth.
Access to business and market share is the lifeline for any business to survive, prosper and achieve growth. The company’s mission statement and business objectives are supported through the aforementioned. We say ‘supported’ for a reason. As mentioned in our series blog articles, meeting objectives, goals and growth are built upon solid business management principles as a foundation to how the company is operated. Once those are in continual development and sustainment mode, then acquiring business and trust from the customer base and market share is the next step.
Depending on your product and service portfolio, access to certain markets may be difficult to obtain. In our Business Management Health Assessment (BMHA) process, we examine with manufacturers if strategic partnerships are necessary to either acquire expertise that qualifies a company for access to that particular market and/or is necessary in order to offer a complete package that cannot be done on their own.
Manufacturers need to continually monitor the product and service offering to keep in step with market demand and trends. A number of weeks ago, we cited the Blockbuster-Netflix merger failure because of lack of market demand and foresight. Manufacturers need a keen market forecast capability for the sector(s) they serve. At some point, it may mean that in order to sustain the company’s mission and growth objectives, acquisition and or a joint-venture may be necessary.
Leadership needs to be on the ball with what the future holds for growth and sustainability. They also need to strategically and tactically manage the stakeholders that govern or navigate the company. If leadership cannot perform that function, then one can expect to experience icebergs causing business challenges and to the worse extreme, irrelevance in the market.
Related to this thought, I would like to quote a U.S. Army Chief of Staff – General Eric Shinseki, “If you don’t like change, your going to like irrelevance even less.”
Wise words and something we at LYNXBMG always keeps in mind when we are helping manufacturers achieve organizational excellence, profitability and growth in their competitive market. One must not only embrace change, they need to plan for it well ahead of where they are today.
With that, we look at a few simple but foundational aspects during our BMHA process. Does the company need to execute an M&A in order transform into the next generation of product and service? Is that necessary to be part of or command a certain market in order to sustain existence? There are a number of business aspects to delve into. Food for thought!
Next weeks article will be focused on ‘INTEGRATION, PARTNERSHIP & PROCUREMENT/PURCHASING strategies.
We encourage you to reach out to us on this topic. We are practitioners with a true passion to help manufacturers like you meet your objectives. It costs nothing to enquire, and we wager that you will be glad that you did.
The BMHA is an efficient LYNXBMG auditing and business development process assessing eight operating key business management principles & institutional processes.
Extended support by LYNXBMG enables manufacturers like you to execute continual improvement through mentoring of personnel and optimization of your operating processes.
Flexible Product Options:
Client self-performed assessment – Internally managed. Formalized Report-Out.
OPTION B
Assisted assessment – Leave the process to us – 3 Day on-site process with a LYNXBMG Business Development Expert to manage and document a deep dive of your operational business. Formalized Report-Out and Roadmap to develop the business.
With a completed BMHA, we guarantee leadership will have clarity on:
- The level of congruence within the functions planning, managing, and controlling the company.
- The level of congruence and integration of the management processes used to drive the company.
- The alignment of the business plan to the company’s core objectives.
- Strengths, weaknesses, opportunities, and threats within the company.
- Opportunities for cost reduction and performance improvements affecting overall equipment efficiency (OEE).
- Procurement and purchasing leverage opportunities.
- Operations and Quality Assurance alignment.
- Organization readiness & prioritization of what to focus on to develop the business.
- Progressive steps to achieving a lean enterprise.
- Expected ROI from development actions taken ~ 500+% based on OEE improvement to manufacturing quality, efficiency, resource allocation & management processes.