Unlocking the Production Potential of Russian Companies
Following the departure of Western manufacturers and the restrictions imposed by many governments on exports to Russia, nearly all sectors have been tasked with increasing output and expanding their product range. However, due to capacity constraints, companies in Russia are often unable to respond quickly and ramp up the production of high-quality products. The closed foreign capital markets have exacerbated the problem, making it difficult to raise funds needed to expand production. In any case, building plants is a long process and in order to respond quickly to the challenges faced by industry in Russia today, we need to ensure that the full potential of existing production assets is unlocked by improving the quality of manufactured goods, accelerating the launch of new products, and increasing labour productivity and equipment effectiveness. Do asset owners, including the government, have an adequate understanding of the production potential of the assets they manage? How can we minimise the risks associated with the loss of expertise and access to high-tech production technologies? How can we ensure the smooth and effective implementation of improvements to production processes? How important is the role of digital technologies in the drive for efficiency? How can we motivate management to implement systematic and long-term change? How can we enhance work culture and accountability for the end result? What role can the government play to incentivize improvements in production efficiency and quality?
