Chiotakis - Dough products
Chiotakis Bros SA started from a bakery in 1982, created the 1st factory of pastry products in Crete, in the prefecture of Chania, gradually becoming the company with the highest turnover in the pastry sector on the island. For the consumer the company's products are closely associated with high quality, pure natural ingredients, and exceptional taste.
Addressed to MDC Stiakakis, the company was looking for a reliable partner who would propose and implement key structural changes at all levels of management and operations. The company had a goal to regain its position in the market and to ensure its long-term viability and growth, given the appearance of several competitors and its gradually declining profitability.
The plan that would be implemented required detailed planning and implementation, as it involved the coordination of multiple working groups inside and outside the company, which increased the risk of project failure. Both the impeccable cooperation with the management of the company and the experience of MDC Stiakakis at implementing multifactorial projects, brought the expected results for the client.
Specifically, the company's full recovery plan incorporated key changes at all levels of business, with the main goal of increasing efficiency while reducing resources to ensure sustainability. The most important changes included:
- The evaluation, refinement and redefinition of the product base and the production lines according to the new profitability requirements.
- The provision of financing for automation and consolidation of geographically fragmented production activities by transferring to a new single installation.
- The complete redefinition of the sales policy by searching, evaluating and concluding partnerships with wholesale companies.
- The creation of monthly budgets and the daily monitoring of the company's cash flow.
- Consulting guidance of the management in negotiations with suppliers-customers & banks.
- Redesign of internal organizational structure with emphasis on efficiency. Creating a new organizational chart and job descriptions.
- Implementation of Business Intelligence system of automated administrative reports for the monitoring of the plan in real time.
Within 1 year the company achieved tangible results such as:
- Increased profitability per product.
- Reduction of production time and costs.
- Turnover per transaction doubled.
- Turnover per customer doubled.
- 60% increase in profit margin.
- Elimination of the time needed to prepare managerial reports and faster decision making through the Business Intelligence system.
- Significant improvement of cash flows by increasing credits to suppliers and reducing credits to customers.
- Simplified procedures and increased efficiency in all operations.
|Business Process (Re)Engineering|
|Financial Department Outsourcing|