Challenges in Foundries
With the strong momentum gained post-lockdown which is, further, strengthened with the arrival of vaccines, solid hopes of a promising budget and the prevailing optimism in overall global economic outlook, all the sectors are gearing up for the rising demand. Foundry industry, the key input source, for a wide range of industries, increases its focus on building capacities, improving efficiencies and driving cost effectiveness. Although the positivity of demand is encouraging, the increasing raw material costs challenges the industries in maintaining their profitability and catering to the long-term price contracts with its customers. While the industry as a whole is working to manage the external risks, it’s also imperative for the organizations to focus on managing their internal processes and building robust internal control systems which can facilitate in maintaining the competitiveness and profitability. With our long association with foundries and other varied industries, we sup