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 support them through our professional services which has resulted in both tangible and intangible benefits over the years. 

Cost savings Opportunities:

• Accurate raw material accounting and reconciliations

• Monitoring of runner, risers and rejections

• Analysis of material consumption pattern

• Sand usage analysis

• Reduction in rejections

• Identifying controllable wastages

• Energy efficiency

• Yield analysis / Melting loss

• Budget controls

• Component weight analysis

• Manpower efficiency

• Procurement efficiency

• Development cost tracking

• Subcontract cost optimization

• Scrap accounting and realization

• Rejection cost recovery

• Increased ROI of Moulds & patterns

• Insource vs Outsource decisions

• Production cost per Kg.

Our service offerings:

• Systems and operation audits

• Periodical and surprise stock verification

• Application / ERP reviews

• Inventory reconciliation

• Review/develop business plans

• Identify potential cost reduction opportunities

• Manpower planning and workload assessments

• Develop IT roadmaps and support its implementation

• Revisit the organization structures and clarify roles & responsibilities

• Analyse and re-define the business processes

• Define Key Performance Indicators and establish dashboards

• Review and revise the existing organizational policies


Astral Business Consulting LLP 

Mob: 99949 27892 / 99949 23470 

meena.s@astralbusinessconsulting.com 

www.astralbusinessconsulting.com

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