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Supplier Diversification In Supply Chains
Critical Key Supply’s Should Be Manufactured In Your Own Country More To Mitigate Breaking Supply Chain To Your Business
EU leaders last month stressed the need for the bloc to have strategic autonomy after the coronavirus crisis.
The European Union and its companies need to diversify their supply chains to reduce their reliance on individual countries but that does not mean bringing all production back to Europe
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With the coronavirus pandemic many have now realised that there has been an over reliance on Asia for the supply of key supplies. Austrian EU diplomats think this means more manufacturing and production of key supplies should be brought home. Whilst this does not mean all Asian supplies from Asia should cease it does mean more manufacturing is required in your own country to build supply resilience.
We need to look at how to build resilient supply chains based on diversification acknowledging the simple fact that we will not be able to manufacture everything locally
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Dutch trade minister Sigrid Kaag told reporters after the video conference with EU counterparts that there was an awakening to the need to determine the weakest links in value chains. How can you mitigate the overdependence on countries such as China or India when it comes to essential goods.
During the coronavirus pandemic FranceGermany and USA were just some of the countries who intervened at government level to stop supply of some products including personal protective equipment and medical equipment. When supply comes from outside your own country you are diversifying your supply chain but over reliance on overseas supply can increase risk of supply chain interruption. Arriving at the right balance is key to maintaining good business performance and strong business resilience.
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Opening up the skies is a big part of easing global supply crisis. More holidaymakers increases airfreight opportunities and lowers international trading by air costs. Shortening supply chain, reversing globalisation, can increase speed of change and flexibility in an uncertain world as well as build resilience whilst protecting the environment from supply chain costs.
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Executive Grapevine on BusinessRiskTV.com: Navigating the Risks and Challenges of Business Leadership
As an executive, navigating the risks and challenges of business leadership can be a daunting task. Whether you’re leading a small startup or a multinational corporation, there are countless factors that can impact the success of your organisation. However, by staying informed and proactive, you can mitigate risks and overcome challenges to drive your business forward. This is where Executive Grapevine on BusinessRiskTV.com can be a valuable resource for business leaders.
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Emerging trends in business management debated risk analysed and risk controls reviewed. What emerging trends in business management must you know about today? Consumers and business decision makers have easy access to business intelligence so business leaders need to use business intelligence more in risk management strategy setting to grow faster. Due to the rapidly changing business environment and increased nationalism it may be better to have shorter supply chains. Alternatively restructure your supply chains to embrace new cost saving opportunities in supply.
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Death of the High Street in UK has been predicted for some years. 2019 has been bad year for UK High Street with 85000 plus job losses and many retail business collapses. However saving the British High Street may not be just about tackling unfair taxation of retail on the High Street. What the High Street in UK offers consumers needs to change as what they want has changed.
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We are helping retailers and other businesses to become more successful businesses on the UK High Street. Boost your retail sales on the High Street and online with our help. Diversify your income streams. Save your shop.
The UK High Street is not dead. It just needs to change what it offers and when. It also needs to increase its innovation with the use of the internet.
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Can the UK High Street be saved? Yes it can!
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Businesses in the UK will grow over the next 5 years. Will your business be one of them. Not all businesses in UK will grow. The UK business leaders which take the right decisions to protect and grow their business will grow their business regardless of the UK economic future.
What of the future? Economic growth not contraction. The fundamentals of the UK economy are strong. Can your business exploit the opportunities for growth that are ahead?
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Is printing money a Ponzi scheme designed to bail governments out and create asset bubbles to make rich richer and poor poorer?
The claim that printing money by western central banks is a Ponzi scheme is a controversial one. Some economists argue that it is true, as printing money can lead to inflation, which erodes the value of money saved by citizens and investors. Others argue that printing money can be a necessary tool to stimulate economic growth, and that the negative effects of inflation can be managed.
Here are some of the potential consequences of printing money:
Inflation: When the government prints more money, it increases the amount of money in circulation. This can lead to inflation, as people have more money to spend and demand for goods and services increases. Inflation can make it more expensive to buy goods and services, and can erode the value of savings.
Devaluation of the currency: If the government prints too much money, it can lead to the devaluation of the currency. This means that the currency will become worth less in terms of other currencies. This can make it more expensive for businesses to import goods and services, and can make it more difficult for people to travel abroad.
Unintended consequences:Printing money can also have unintended consequences. For example, it can lead to asset bubbles, as people invest in assets in the hope that their value will increase. This can lead to a financial crisis if the asset bubble bursts.
It is important to note that the effects of printing money can vary depending on the specific circumstances. For example, the effects of printing money during a recession may be different from the effects of printing money during a period of economic growth.
In conclusion, the claim that printing money by western central banks is a Ponzi scheme is a complex one. There are both potential benefits and risks associated with printing money, and the effects can vary depending on the specific circumstances.
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Sure there is uncertainty about the UKs economic future. When has there been certainty? The key is to find ways to grow whatever the economic future or at least protect your business so it is resilient and survives.
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Several of the biggest retailers in the UK have collapsed or nearly collapsed due in a large part to failure to have an appropriate increase brand awareness strategy
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Increasing online sales is of growing importance to SMEs and large businesses. The shift from the High Street to the web continues unabated. Bricks and mortar businesses also need to explore how to increase brand awareness. Simply relying on what has worked for you in past may not be enough to survive in future.
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Maximising Your Business Growth: Insider Strategies and Tactics from Industry Leaders
Maximising your business growth tips: sharing insider strategies and tactics from industry leaders to help you take your business to the next level.
Identify your target market.
Before you can start growing your business, you need to know who your target market is. This will help you tailor your products or services to meet the needs and wants of your ideal customer. To identify your target market, consider factors such as demographics, location, and interests.
Set clear goals and objectives.
In order to grow your business, you need to have a clear direction and plan in place. This means setting specific, measurable, achievable, relevant, and time-bound (SMART) goals and objectives. Having clear goals and objectives will help you stay focused and motivated as you work towards growing your business.
Invest in marketing and advertising.
Marketing and advertising are crucial to getting the word out about your business and attracting new customers. Consider investing in both traditional and digital marketing efforts, such as social media, email marketing, and content marketing.
Focus on customer satisfaction.
Happy customers are key to driving business growth. Make sure to prioritise customer satisfaction by providing high-quality products or services, responding to customer inquiries and complaints, and continuously seeking ways to improve the customer experience.
Diversify your revenue streams.
Diversifying your revenue streams can help protect your business from economic downturns and provide multiple sources of income. Consider offering new products or services, partnering with other businesses, or exploring alternative revenue streams such as licensing or franchising.
By following these insider strategies and tactics, you can take your business to new heights of growth and success. Remember to always keep your target market in mind, set clear goals and objectives, invest in marketing and advertising, focus on customer satisfaction, and diversify your revenue streams.Â
How to grow your business
Boost Your UK Business Revenue
Struggling to grow your UK business? This article reveals the critical link between revenue growth and business survival. Discover the top 5 threats to your business when revenue stagnates and learn proven strategies to overcome them. From deepening customer relationships to expanding market reach and driving sales and marketing effectiveness, this guide empowers you to take control of your business’s future. Join our Business Development Ideas LinkedIn group for free expert advice and networking opportunities. Don’t let stagnant revenue hold you back – unlock your business’s full potential today!
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The 4th Industrial Revolution is upon us. For some it will be a plague but for others it’ll will be a feast.
Every day you can find multiple great ideas that could potentially disruptive the current way of doing things. My favourites at the moment are flying modes of transport that could easily replace vehicles that have to travel on roads and flying machines that briefly go to space to get to their destination quicker. They may seem like far off technological developments, but the technology works now. Its flight rules and regulations that will hold them back to protect carmakers and airplane makers not technology risks.
Everyday new innovative ideas and products flood onto the market. For most it will be like Tomorrows World. The innovative ideas will not be sustainable. We want to work with people who want to take over the world in a good way!
Pull in our resources to make innovation-driven business growth more likely to succeed and maximise the return of your investment of time and money.
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If you don’t have time to be innovators you may need to find time to protect against business market disruptors
Fatal existential business decisions are easy to see in hindsight. Foresight consultants can help you take steps to protect yourself from your own poor business decisions.
Anyone can take a wrong turn. If you’re lucky the decision may not be malignant. You might survive to fight another day. On the other hand.
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Your brand maybe vulnerable to others who have been thinking differently, or from changes to the marketplace. It may fail cause your performance ain’t good enough, or because your competitors change the rules of the game.
How you fail may not matter too much after you’ve failed. It will be too late to consider what you are doing wrong. Kodak didn’t want to change when they had to change to survive. They were making too much money from photographs to change to embrace digital photography. Market changes can kill the best businesses.
The best form of defence is often attack
Being more innovative or creative can be frightening. Picking the wrong horse in a paddock of new opportunities can be very costly. Innovation can also be exciting and highly rewarding.
We aim to make innovation for you more exciting and rewarding as well as reducing the uncertainties that accompany innovation and creativity. Disruptive innovators can draw on our tips advice and support to become more successful with more certainty.
BUSINESSRISKTV DISRUPTIVE INNOVATION BUSINESS GROWTH OR PROTECTION
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