PROMPT  I  business strategies

 improving performance and growing businesses 

The construction sector presents many unique opportunities and challenges. With margins tight, the need to keep on top of measured work, interim billing and very tight cost control is key. The working capital cycle is tight, often with little room for error. Whilst the sector is not for the faint hearted, it is rewarding seeing buildings going up and the multiple of issues being resolved. 

The high cost of commercial space from offices to retail have been a challenge for many years. The  combination of flexible working and increase in online retail sales both of which have become more prominent due to CoViD-19, presents commercial real estate with serious challenges. 

The sector saw so many challenges before CoViD-19 from high cost of retail space to increase online spend. Online sales also present a number of issues from high product returns, to cost of logistics. CoViD-19 has changed retail forever and to survive often requires a business re-think. 

The hospitality sector has been hit hard during CoViD-19 being one of the first sectors to close and one of the last to open, albeit with limited occupancy in hotels and restaurants. Government support has helped soften the blow but has not changed the core underlying economics.

Businesses that operate on  multiplatform distribution model, often on and offline require high quality analytical data to monitor costs and return per channel. With businesses adopting the omni channel approach to communication and distribution it gets harder for businesses to know where to focus their effort and money. 

Effective manufacturing often comes down to three key factors: supply chain, process management  and investment in equipment & plant. The need to invest to keep down production costs, to drive up productivity, quality, becomes key.