LONDON--(BUSINESS WIRE)--A well-known market intelligence company, Infiniti Research, has partnered with several global companies across industries to help meet their strategic objectives and implement seamless route-to-market strategies through turnkey solutions. Their latest success story outlines the key business challenges faced by a US shipbuilding company and explains how the client leveraged competitive benchmarking solution to combat these roadblocks. Request a complimentary proposal to learn more about Infiniti’s competitive benchmarking solution.
Engagement Overview
A US shipbuilding company, engaged in building and repairing vessels of assorted sizes and utility, approached experts at Infiniti Research to undertake a competitive benchmarking study in an effort to understand how key players in the shipbuilding industry performed and tackled business challenges.
Apart from this they also sought strategies to address other business challenges including:
- The shipbuilding company noted a decline in productivity when compared to other international shipyards, with outputs tailing by at least 40% in comparison
- Tackling cost growth by identifying the key cost drivers and taking corrective measures
- Assess the US private shipyards using a standardized benchmarking system
- Improving operating margins which was found to be much higher compared to international commercial shipyard companies
- Enhancing obsolete designs that do not adhere to the quality standards
- Identifying DoD, Navy, and industry actions, policies, and contract incentives that can be implemented
Ensuring business continuity a challenge due to COVID-19? Contact us to learn how Infiniti can help companies in the US shipbuilding industry to assess the business impact of the coronavirus outbreak and plan for business revival post-COVID-19.
Infiniti’s Approach:
Experts at Infiniti Research undertook a comprehensive competitive benchmarking study with exhaustive secondary research from proprietary and open source information sources to develop insights and hypotheses specific to the US shipbuilding industry. Rigorous desk research through 750+ sources was executed to understand the US shipbuilding market landscape, competitor strategies, and market trends.
The Solution Offered:
Infiniti’s engagement helped the shipbuilding company implement strategies to enhance their overall productivity. Within a span of 7 months, the client recorded a 31% increase in their productivity. The benchmarking analysis also helped the client understand how they compared to top performing shipbuilding companies and replicated their cost-cutting strategies into the business. The shipbuilding company also identified the right suppliers to procure good quality materials at reasonable prices, bringing down the overall cost of production. Additionally, the shipbuilding company was also able to:
- Improve their operating margins by 10% in each quarter
- Revamp design implementation strategies by understanding the changing market requirements and discarding the obsolete segments
- Identify unmet market needs and key growth segments before their competitors, giving them a first-mover advantage in the market
As business activities slow, some companies in the US shipbuilding industry are witnessing lower revenue resulting in less cash flow. During the economic uncertainty, managing cash and liquidity positions may be crucial in the weeks ahead. Request more info to know how Infiniti's business continuity solutions can help shipbuilding companies to achieve these objectives.
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
