Many, many articles have been published in past weeks, all attempting to assess the current crisis and foresee future impact.
From politicians, economists, supply chain experts, Big 4 consultants and Futurists like Gerd Leonhard (very interesting), it is easy to feel overwhelmed and confused.
The majority of us are at home with our families, trying to work whilst keeping safe and entertaining the children. There is rightfully much in the news about the NHS and essential key workers who are doing such important jobs.
When I tell people that my passion is procurement, most people move on to ask the person next to me what they do for a living. A few others ask questions about the biggest tender I have ever dealt with, or how I feel about supermarkets bullying tactics with food growers and the like.
The uninitiated think that as procurement professionals we spend our time creating tender documents and beating up suppliers on price.
In fact, nothing could be further from the truth.
Our approach is VERY different.
The best procurement consultancy firm for your business will be able to drive value in the shortest time period. How do you test their ability?
Topics: Procurement Consultancy
Big names like Jamie Oliver, Byron, Strada and more have closed restaurants in the past couple of years, and others have responded to the market with discounts, budget menus and other price-cutting measures.
However, when combined with cost pressures such as rising business rates, increases in the National Living Wage and the rise of high street rents, the pressure on margin is a recipe for disaster. Added to that food prices have risen (largely due to the falling pound), and Brexit still provides some uncertainty here in the UK.
All of these things are out of our control, but all of them impact ALL restaurants. So why do some fail, when others are expanding?
"Enterprise Value" is a term that is used to value a business beyond it's market capitalisation. The usual definition is market capitalisation (share price multiplied by the number of outstanding shares) plus net debt.
But we think that enterprise value can and should be looked at in an entirely different way....
Companies that have surpassed the £20m turnover mark have already worked hard to structure their business in a way that maximises business growth and the value of their enterprise;
They’ve been focused on driving sales
They've negotiated costs to the best of their ability
They’ve reviewed and optimised their operational processes.
In short, they’ve already examined each area of the business.
Yet many CEO’s and investors that I speak to know that they could do even better. They’re just not sure how.
"Best practice" is a phrase that can be over-used, but nonetheless sought-after by all concerned. This list combines suggestions from the top industry gurus - including our modest selves!