South Africa has reported the highest unemployment levels since 2002, and the trend looks like it will continue to rise. In fact, since 2010, the trend is growing year on year at an increasing rate. The economists paint a grim picture, but still believe we can recover if we act now and not procrastinate any longer.
Generally, it’s good to have group consensus when making decisions. There is a time though, when those very hard decisions need to be taken, with or without consensus. This is true at the national government level and in our everyday business lives. We expect our leaders to act, but then we must also act to support them.
If you want your business to improve, whether you are struggling or not, note what the economists are saying and start working towards a brighter future. Take a look at the companies that are shooting the lights out. What are they doing that you aren’t? How can you apply that learning to your business?
Analyse their strengths and weaknesses. Select what works for you and put a holistic strategy together. Remember, if it has no positive effect on your business profitability and isn’t sustainable, then don’t do it! Research possible solutions; a very good site is the Demand Driven Institute at https://www.demanddriveninstitute.com
Acknowledge that our supply chains are no longer simple chains, but rather Complex adaptive systems. Build your strategy using this information. Create an action plan with milestones and put smart metrics in place to keep your teams on track. This will drive your business to achieve ROI targets. Review your progress on a regular basis to ensure sustainability and continuous improvements.
Use the latest proven methodologies like the demand driven operating model (DDOM) to reduce inventory levels and improve customer service levels. Your cash flow will improve as a result of better sales and faster inventory turnover, giving you the funds for future growth and creating employment opportunities.
Invest wisely, analysing every opportunity before jumping in. This is the time when proactive companies excel.