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Our client, a Canadian steel manufacturing company, witnessed continued downward pressure on the product demand owing to the COVID-19 crisis. Also, the client faced cash-flow liquidity challenges and difficulties in managing debt obligations. Besides, the Canadian steel manufacturing industry client encountered continued weakening links in their supply chain as some of their vendors and suppliers faced operational challenges. Consequently, the client witnessed a decline in sales by 60% compared to previous months. This subsequently impacted the company’s profit margins.
They wanted to revamp their traditional operating model, address technology gaps, and build business continuity strategies to succeed in the post-COVID-19 world. They chose to partner with Infiniti Research to leverage their expertise in offering market intelligence solutions. Key challenges that the client sought to overcome includes:
- Identify potential market risks and devise contingency plans in case of unexpected disruptions
- Reengineer their supply chain and build a resilient supply chain for the future
- Increase real-time visibility into every part of the supply chain
- Rebuild demand forecasting and capacity models for developing resiliency in the face of future demand shocks
For an in-depth market analysis on how COVID-19 will impact the steel manufacturing industry and data-driven insights to plan your next moves, request more info here.
By leveraging Infiniti’s market intelligence solution, the client was able to identify divesting non-core and underperforming assets and identify new ways to reduce cash outflows. As recommended by the experts at Infiniti Research, the client outsourced some corporate functions and achieved a reduction in operating costs. Besides, the Canadian steel manufacturing industry client was able to devise risk mitigation programs for employees who worked on-site. The experts also helped the client to identify potential weak lines in the supply chain and devise supply chain risk management strategies. Furthermore, by closely reviewing inventory position and assessing supply chain complexities, they were able to adjust inventory for the post-COVID-19 period. In addition to this, the client was able to revamp their traditional operating model, centralize cash management, address technology gaps, and build business continuity strategies to succeed in the post-COVID-19 world. For comprehensive insights on the engagement, read the complete success story.
How can companies in the Canadian steel industry prepare for the rebound and ensure business continuity? Our market intelligence solutions can help clients in the steel industry to understand the change in volumes and values post the COVID-19 crisis. Request a FREE proposal.
About Infiniti Research
Established in 2003, Infiniti Research, is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us