Business Pulse: Switching direction
Business Pulse Zoom: Margin protection and productivity improvements in mining and metals
As metals prices have fallen, the global mining and metals industry has switched from a growth focus to a focus on recovering margin. Companies need to review their operations to prosper, with the need to achieve operational agility a high priority. Margin protection and productivity improvement was identified as one of the greatest risks for industry players in the recent EY reports and experts warn that, if these factors are not addressed, companies will face capital shortages and mine closures.
Questions relevant for the mining and metals sector:
- Do you have an HR strategy in place for the hiring, training and retention of skill in the market?
- Do you have the right connections to be able to create strategic joint ventures for the optimization of your economies of scale?
- Have you considered outsourcing?
- Do you have a solid supplier network established?
- Do you have a system in place to benchmark performance?
- Have you assessed the use of contract mining versus sale or leaseback?
- Have you considered how you can increase automation?
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