Application of Industry4.0 capabilities and utilisation of IIOT (Industry Internet of Things) technologies is rapidly driving business improvement especially in the Manufacturing Sectors. Where is your business heading? Do you have a road-map? Do you understand the many advantages? What are the traps? Gardner Advisory can work with you to answer these questions and drive maximum value for success of your business in both the short and long term. […]
Comprehensive Risk Management analysis, especially in the non-financial arena, should go hand-in-hand with your business Strategy development. This can assist in finding solutions to identified risks early and ensuring your subsequent business tactics and projects have a much higher chance of success. The relevant Australian Standard outlines a most useful structure. This provides a starting point in building your Risk Plan. The Standard covers from Communicate and Consult through to Monitor and Review. The steps to get there incorporate; Establish the Content Identify Risks Analyse Risks Evaluate Risks, and Treat Risks Following this structure, together with a comprehensive and objective set of criteria, will provide a robust Risk Management Plan. Just relying on criteria of Low-Medium-High risk can be too broad to provide clear analysis and remediation of risk levels. Regular [...]
The recent Australian Institute of Company Directors (AICD) Essential Directors Update was focused on Corporate Governance. At this meeting the question was raised “do we have enough industry expertise and operational experience at the table”. This question has been raised due to increasing pressure from the banking and finance industry Royal Commission that boards may not fully understand their own businesses. This is surely a contentious issue however it is likely to get more “air time” in the Commission’s final report early in 2019. Your feedback of this issue will be welcome, and Gardner Advisory will be pleased assist your board, especially in the manufacturing environment. Contact Peter Gardner at email@example.com or me call on 0409 773 098.
Industry 4.0 is more than just a flashy catchphrase. A confluence of trends and technologies promises to reshape the way things are made. Industry 4.0 benefits are quickly being realized internationally; especially in Europe and North America. The benefits can encompass many areas such as productivity, cost, quality, capacity etc, etc. These benefits can be maximized by incorporating a clear and comprehensive People 4.0 plan. For manufacturers that are still struggling with how to unlock value from Industry 4.0, we have outlined four pragmatic steps: Include a people-focus at each step: from the Board Room to the Shop Floor. To fully capture value from Industry 4.0, companies need to establish a dedicated cross-functional team that drives innovation based on a culture open to change and experimentation. Focus on a limited number of Industry 4.0 applications: Rather than trying to cover all levers at once and getting “lost” and fail. Companies [...]
Asset Efficiency and EBITDA have a strong correlation; improving Asset Efficiency will lead to higher EBITDA. Asset Efficiency considers “productive” assets and working capital while EBITDA is Profit Before Interest, Tax, Depreciation and Amortisation. This analysis can be used as a driver for many businesses and is most powerful for businesses with multiple operations or direct access to relevant data from benchmark businesses. Where to start to reap the benefits; senior management must provide clarity through their strategic planning process what their objectives are for the budget and the next few years. Gardner Advisory can assist your company turn strategic objectives into tactical operational plans for implementation. […]