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Business Turnaround strategy for a large $5B+ manufacturing enterprise conglomerate Changing the growth trajectory of a stagnant busines
Background
A prominent manufacturing group experienced stagnated growth over a period. They sought a comprehensive business revival plan to shift their growth curve upward & produce substantial returns
Bottlenecks
Through a detailed current state and competition benchmarking analysis, following issues were identified.
• Lack of strategic GTM
• Sales were not targeted and lack of identification of key accounts
• Poor distributor spread. Lack of clear policy in the distribution structure
• Poor servicing leading to fall in repeat customers and dissatisfied customers.
• Weak marketing and brand proposition
Approach
Closely collaborated with client’s team, engaging in a series of consultative workshops and brainstorming sessions conducting a comprehensive discovery & assessment of industry, market, and internal organization. Scrutinized sales & distribution channels, product portfolios, reviewed existing management processes, highlighted untapped market segments, opportunities for product innovation & portfolio diversification, Strategic Alliances, ,M&A etc
• Sales startegy:
Big ticket end customer cluster of the genset industry were big builders. Different projects spread across different geos in INdia had contracting and purchasing spread across different time periods. Creating central movement of truth by subscribing and creating databases which identified the contracting of these projects. Key account mapping was done to have repeat orders
• Indigenisation:
Client PoI was sold at a higher price than competition as major part was imported. Did a product tear down exercise and provided negotiated local alternatives to key products such as engine, canopy. Sheet metal players identified bringing down the costs further as sheet metal work is a strong function of logistics
• Service:
Service turnaorund was slow compared with competition. Thorough benchmarking was done to identify industry best practices. SMS and email embedded along with central request systems. Helpdesk created to address requirements along with rela time stage change updates
Turnaround strategy execution resulted in >90% YoY growth, drastically outpacing their earlier performance setting them up for segment leadership, hypergrowth
Results
Services used
- Market research and Analysis
- Product Development
- Marketing Management
- Customer Success
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