Turnaround Management
Efficiency and profitability are the decisive factors for manufacturing companies. Consistently downsizing all systems to current requirements, however, poses an acute danger to a company’s ability of responding to future changes in the market. Frequently, a radical and rapidly executed restructuring is the last chance of saving the company from insolvency. The central challenge, however, is to achieve a sustained turnaround that takes the entire company to a higher performance level.
Oliver Wyman’s Industry Team pursues an integrated restructuring approach. Typical restructuring concepts are based on three pillars:
- Strategic restructuring: The focus lies on core markets and promising business segments. Corporate divisions destroying value are divested.
- Operational restructuring: It focuses on leaner organization and leaner processes, on the simplification of manufacturing networks and corporate structures, as well as on maximizing efficiency and effectiveness.
- Financial restructuring: A combination of cost reduction, more flexible structures, and the development of a sustainable financial concept.
As the execution is of decisive relevance in restructuring processes, Oliver Wyman assures in the projects that
- the overall financial situation is as transparent as possible and that the influence of the identified restructuring measures becomes clear,
- rapid analysis and concept development considering the information needs of lenders are conducted,
- the most relevant people from the client’s organization are involved in order to achieve acceptance for the implementation of improvements,
- consistent project management and controlling are established during the implementation phase to ensure that the pursued improvements are actually achieved,
- all stakeholders are continuously informed and involved in order to identify risks and avoid counterproductive conflicts.
