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Facing a global pandemic, manufacturers have to review their strategies and show creativity in order to continue to survive in their sector. Innovation and diversification are at the heart of the debate at a time when an energy transition is in place.
ince the beginning, with the crisis, we have seen many changes in the activities of the entire supply chain. From the small to large industrial groups, everyone is impacted. Diversifying its knowledge to reach other sectors, reorganizing itself, reviewing its objectives and its development strategy are among the priorities..
Diversification:
Companies need to develop alternative production plans to expand their range of possibilities. Flexibility and search for new applications allow companies to position themselves on new markets. The second answer to the current situation will be geographical diversification, key players are positioning themselves on less ambitious programs or in more remoted areas. The goal is to maintain a level of activity while keeping contact with all its prospects.
Fusion and Alliance :
Since the beginning of the year, companies have shown originality by combining their knowledge and ambitions to create new joint projects. An example is the recent merger of the Belgian companies Sabca and Sabena to form Blueberry. This move will make possible to combine skills in order to position themselves on higher packages.
A vertical integration of the skills of former suppliers allow market leaders to remain competitive in the face of global competition. They are therefore able to offer more complete packages.
Reactivity :
In these times, responsiveness is an important asset for development. The organizational complexity of large groups has always been an obstacle to their development. This aspect is now taken into account in organizations. In order to respond to calls more efficiently, companies are organized upstream to better anticipate the needs.
To conclude :
Keeping in touch with its customers and the market as a whole, organizing its activities according to the feedback it receives are the key words in this period. We must take advantage of this time to develop new strategies and explore new markets.
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