Well here we are in a new year with opportunities for new beginnings. What can we expect? What should we be looking out for and where should we be directing our attention? In all likelihood 2009 promises to be a year of uncertain political and financial prospects, so I thought I would share these excerpts from an article by Frances Wright, MD of Trinitas Consulting, offering a few tips on what companies can do to make it through a downturn and emerge a stronger and more able organisation.
Do not cut marketing. Between 3 and 5% of turnover, whatever that amount is, should still be spent on marketing. If you stop, you become invisible and will struggle to take advantage of the eventual market upturn.
Keep your R&D going. Keeping your company and its products in line with the latest technical advances is critical if the company is to be able to provide solutions to meet the new needs of customers when the economy improves.
Work smarter. Well-developed processes will assist companies in standardising the services they offer.
Improve production. Doing proper capacity planning will ensure that there is no wasted capacity and a critical path analysis on processes will reduce bottlenecks and eliminate waste in the production process.
Restructure inventory. When there is no capacity for waste or for carrying large stock supplies, different inventory options such as just-in-time planning must be considered and implemented.
Measure performance. A performance management system is a critical component of any efficient organisation as it ensures that every process and action undertaken by employees corresponds to specific items on the company’s balanced scorecard. Each employee is therefore measured according to the scorecard, making sure everyone is focused on achieving the goals of the company.
Measure numerically. If the measurements above are numeric, the scorecard and job descriptions can then form part of a reward and recognition system that awards good performance.
In a nutshell the question managers need to answer is: “How do we get more from less?” When it comes to communication strategy, one of the mechanisms available is more effective targeting.
2009 will no doubt be a turbulent year for business with plenty of competitive repositioning taking place: we look forward to being your media resource of choice in the all important quest to stay visible and keep informing the market.
Stay up-to-date
Of course, in uncertain times it is as important to stay informed as it is to stay informing. The old adage: 'Knowledge is power' is particularly true when the market is dominated by fear and rumour. So, I think this is an appropriate moment for me to introduce you (at least on paper) to Justin Grove, SA Instrumentation and Control’s new circulation manager. If you have any queries regarding the status of your subscription please do not hesitate to contact him – justin@technews.co.za – ditto any new readers who may be wondering how to initiate a subscription for the first time.
Together with Andrew Ashton I look forward to charting the progress of instrumentation and control in the year ahead and keeping you up-to-date with all the news of emerging trends, technologies and products in the industry.
Best wishes for 2009.
Steven Meyer, editor:
SA Instrumentation & Control
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