How the Strongest Hardware Companies are Securing Their Futures in the COVID-19 Business Environment
Dear Clients and Connections,
In the new normal of COVID-19, the strongest hardware companies are taking action to secure their futures. These are the specific steps your company should be considering. If you are not taking these steps already, call the On Tap team to get it done for you:
Drive Sales: Consolidate your channel strategy to grow efficiently, balancing top line growth and return on marketing spend. For B2B Sales, clearly demonstrate ROI to enable your clients to create budget for your solutions
Reduce Leadtimes and Solve Shortages: Get a leadtime profile of your Bill of Materials (BOM), manage leadtimes down and resolve shortages
Lower Product Costs: Review your BOM Costs now to realize savings
Reduce Other Costs: Reduce freight costs and review logistics and reverse logistics costs for opportunities
Focus on New Product Introduction: Get creative to recover new product schedules in light of travel constraints and other setbacks; integrate best practices
Manage Cash Flow: Model your supply chain cash flow requirements so you can conserve cash for when you need it; negotiate payment terms with suppliers
Control Inventory Levels: Utilize Supply & Demand Planning to understand your supply chain material liabilities and actively manage your inventory levels
Reduce Supply Chain Risks: Map your supply chain down to the component level to understand the health and risks in your supply chain, and address single points of failure
Keep Payroll Costs Down: Postpone hiring expensive full time employees until product demand recovers; utilize expert resources on a fractional basis for Sales, Ops, Logistics, Supply & Demand Planning, Program Management, Sourcing and Procurement
Contact us to discuss how we are saving our clients time and money every day in these areas.