Supporting the resilience of the procurement process in the manufacturing industry

Manufacturing plays a critical role in any economy and the global market at large. Here is what the future looks like.

The manufacturing industry is the backbone of any functioning economy. Especially in Europe.

The prominence of manufacturing in the European economy has been the case since the industrial revolution took the continent by storm. Currently, manufacturing accounts for 15% of European GDP and 33 million jobs.

To this day, a fast-growing manufacturing sector is an indicator of an emerging and rapidly developing economy.

Suffice to say, manufacturing plays a vital role in the current global market, which means that its success, in not just the short term but also in the future, is equally vital. Ensuring this future, however, is a little more complex than it may appear.

It is clear from current global developments that no industry can continue in the way that it has all these years. Every industry is being forced to look at its systems and undergo a long-overdue reckoning.

In the years to follow, the manufacturing industry will need to optimise its operations and improve its value without dropping production quality or output.

That is why an integrated approach to optimising procurement in manufacturing, finance in manufacturing, and project management in manufacturing will soon emerge as a solution.

Streamlining processes in the manufacturing industry without compromising efficiency

The fear of compromising efficiency plays a huge role in how hesitant a business may be to implement new processes and re-evaluate its frameworks. The attitude is often that if an industry is performing well and responsive, it is successful, and efforts must only be made to sustain this effective performance.

In the contemporary market, however, profitability is not enough to remain competitive.

The manufacturing industry must be crisis-proof, future-focused, resilient, responsive, eco-conscious and so much more. Often, it must balance all these priorities simultaneously.

Sustainable and ethical operations have risen to prominence in recent months due to the way that COVID-19 revealed the unstable, and often, unethical structures that support the global production line and manufacturing processes.

Here at Kronos Group, we help manufacturing companies do more than just survive in the current market.

We approach your critical operational arms like procurement in manufacturing, finance in manufacturing, and project management in manufacturing to help companies become innovative industry leaders.

We know that in order to secure the future of manufacturing, we must ensure that it is a future that is sustainable and ethical.

The value of what we help you achieve is that even as we help you optimise your operations to meet higher value-added goals, which are likely to yield the full breadth of their benefits in the long term, we maintain a close eye on your short-term performance.

For an industry like manufacturing, which plays a key role in Europe’s GDP and the livelihoods that depend on it, our support is timely, actionable, pragmatic, and integrated.

We ensure that your optimised operations yield immediate results by ensuring agile project management in manufacturing, a resilient procurement process in the manufacturing industry while rethinking the role of finance transformation in supporting this new approach.

Ushering in the future of manufacturing

Balancing the many values and priorities of contemporary manufacturing is easier said than done.

The manufacturing sector is one of the largest industries in Europe, which also means that drops in production and interruptions along the manufacturing process will have widespread effects.

While it may be a challenge to keep up with the many demands manufacturing faces, our professionals are skilled at building long-lasting value instead of just helping you achieve short, quick wins.

We do this by helping you create a robust, resilient operational framework and processes that ensure continuous optimisation and progress by taking an integrated approach to driving higher value addition.

Our pragmatic approach has led to:

Two million euros worth of savings on a four months timeline

Global training programmes delivered over six months

A-Z transformation over just five months

Timeless support of a specialised team for lasting value delivery

Our dedication to future-proof processes

When it comes to refining your procurement process in the manufacturing industry, bolstering the role of finance in the manufacturing industry, and ensuring agile project management in manufacturing, we know that there is no replacement for the right insights, cutting-edge technologies, best practices, and tools.

Our team of professionals have the skill to support your business success with:

Swift maturity
assessments

Cost
optimisation

A spend management platform

Digital
transformation

Outsourcing services

Training programmes

Functional transformation

Speak to us!

We support our clients with their strategic growth by leveraging our extensive knowledge and evaluating your business perspective with cutting-edge solutions that address current and future challenges.

Benefit from our dedicated consultants’ skills in the fields of procurement, finance, and project management by getting in touch with us today.