Background:
Nextyn’s Client, a major player in automotive manufacturing, grappled with substantial supply chain disruptions owing to global events such as the COVID-19 pandemic and geopolitical uncertainties. These challenges, including production delays, raw material scarcities, and logistical hurdles, severely impacted the Client’s ability to meet market demands and maintain operational efficiency. Recognising the need for external assistance to address these issues and ensure business continuity, Nextyn, a premier expert network renowned for its specialized consulting services and access to industry experts was enlisted.
Solution:
Nextyn's network of experts in supply chain management, logistics, and risk mitigation were leveraged to devise tailored solutions. Nextyn's approach comprised:
1. Engaging Expertise: Nextyn curated a panel of 15 seasoned professionals, spanning supply chain specialists, logistics experts, and economists, each with pertinent experience in similar crises. This ensured access to specialized insights aligned with the Client's requirements.
2. Collaborative Workshops: Nextyn facilitated workshops where executives collaborated with experts to analyse supply chain challenges, identify vulnerabilities, and devise actionable strategies. These sessions fostered interdisciplinary discussions and knowledge exchange.
3. Risk Assessment and Planning: Working alongside risk management experts recommended by Nextyn, the Client conducted a comprehensive evaluation of potential disruptions in the supply chain, such as supplier dependencies and regulatory changes. This informed prioritized risk mitigation efforts and contingency planning.
Results:
1. Enhanced Resilience: Expert guidance bolstered the Client's supply chain resilience, resulting in a 12% reduction in production downtime during subsequent crises.
2. Supplier Diversification: Insights from supply chain experts facilitated the diversification of supplier base, leading to a 16% decrease in supply chain disruptions attributed to raw material shortages.
3. Operational Efficiency: Recommendations from logistics specialists optimized processes, yielding a 14% reduction in lead times and a 19% improvement in on-time deliveries.
4. Cost Savings: Implementation of cost-saving measures advised by economic experts resulted in a 11% reduction in overall supply chain costs, contributing to profitability amidst adversity.
Conclusion:
By harnessing Nextyn's expertise, the Client could effectively navigate supply chain challenges, mitigated risks, and a foundation for sustained resilience and growth was laid. The collaboration with industry experts enabled addressing of immediate concerns and fortification against future uncertainties. These tangible outcomes underscore the tangible benefits of expert consultation in addressing complex business dilemmas.
About Nextyn:
Nextyn is a leading expert network with offices in Singapore, Mumbai, Bangalore and the UK. With experts in spread across 70+ countries and 30+ meta industries, Nextyn's global capabilities have helped clients in over 16 countries make informed business decisions. Our clients largely constitute strategy & management consulting firms, PE/VCs and corporates. We deliver the highest quality, flexibility and the most competitive prices in the industry. To know more, write to us at info@nextyn.com or visit Nextyn
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