Keeping Your Business Viable And Optimized In Uncertain Times

It has never been a more uncertain time to be a business owner. Covid 19 has totally changed the landscape of business, both for multi national corporations, and small business owners with a small staff. Cash flow is a major problem, putting in safety measures for businesses, factories and shops is another, whilst there are more people working from home than ever, and still many people who are still furloughed, uncertain when they will return to work, if ever. Businesses are having to look carefully at their operational systems in order to ensure they will survive.

MRO Optimization

One of the ways that businesses are having to check their current operational systems is through MRO optimization and materials management optimization. MRO optimization means Maintenance, Repair and Operations, looking at the stock you currently have, your machinery and technical tools and your staff in the form of an inventory. This is often an area of business that can be neglected, but it is a real way of saving on your costs if you look at each area carefully and regularly. Many companies who fail to look at MRO effectively find that they are actually slowing down not only their production due to not having availability of key parts and components, but can also find that stock rooms are filled with overstock of other parts and even have obsolete parts that are no longer required. In the current climate all machinery need to be working effectively, and every part has to earn it’s place, checking your inventory should help with this.

Make sure you get with the times

Following on from MRO, you need to make sure your business is up to date in terms of technology, training and work practices. With any business, there’s a huge chance that you face a  fierce arena of competition. One way to ensure you survive is by ensuring your team has the most up-to-date technology available to them to deliver the best results possible.

If your employees raise a good argument that they will be better served carrying out tasks on the move, consider investing in a collection of tablet computers installed with all necessary software. Worried about cybercrime when you hear of stats such as that there were around 3.6 million cases of fraud and 2 million computer misuse offences recorded by the Crime Survey for England and Wales in its latest annual report? Adding robust security programs to all of your computer systems should give you peace of mind.

Ensure you show your staff you appreciate them

In our uncertain times, your staff can be feeling very worried about their jobs in the current climate. As an employee you can show your business as a great place to work.It is important that you show employees appreciation when they are working hard and delivering the results that you are striving for.

Everything from prizes for employee of the month initiatives, to setting aside budgets so that teams can bond outside of the workplace with a meal or social gathering will cost money. However, they are also very likely to boost morale and have employees appreciating their work and doing their jobs with a positive attitude.

Don’t forget to offer staff members the opportunity to go on training courses on behalf of the company as well, as doing so can help maintain high levels of motivation and engagement.

 

 

 

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