Establishing the best supply chain network is no longer a simple feat for many businesses. So what’s the answer?
As businesses innovate and develop, particularly in the mining industry and the associated supply chain sector, many are finding their existing network just isn’t cutting it. @ The Coalface sat down with Jack Moroney, Director at supply-chain and property experts TMX Global, to discuss the new age of bespoke property solutions.
What is TMX Global and how do you fit into the market?
Well, the way the world does business is changing. As companies grow and innovate the facilities they require often change as well. Many businesses find the old warehouse or operations hub they’ve had for a decade or more is no longer suitable.
TMX Global are a supply chain, property and project management consultancy who solely represent industrial businesses when they’re looking to implement change and improve their operating capabilities.
We do that by understanding the challenges relevant to their business and their future objectives. Once understood we combine our multiple in-house skillsets to ensure we find an existing building or purpose built facility.
What our clients like is the fact that we have no conflicts of interest and have accountability in delivering a property solution from the initial concept to ‘go-live’ and beyond.
What are some of the trends you’re seeing as businesses grow and expand their operations in terms of property requirements?
Businesses are facing a lot of challenges in the property space at the moment, particularly in the industrial market.
Rental costs are starting to bite in the major centres and obviously rising inflation and interest rates are putting a general strain on the bottom line.
One of the emerging trends we’re seeing is that the cost of doing business in terms of on-ground operations has increased and traditional established facilities are quite limited.
The reality is that an industrial asset is no longer just four walls and a roof.
Companies in a range of industries, including mining, now require bespoke building attributes to accommodate the integration of automation, highly specialised equipment, refrigeration, temperature control and a range of other features.
As a result prudent industrial businesses now realise the importance of a technical design brief written in a format that reflects what their business specifically needs.
What is the benefit of ‘bringing in the experts?
It’s generally a case of ‘you don’t know what you don’t know.’ Businesses are obviously experts in what they do. Most of the time they’re also looking down the road to where they want to be in five, ten or even fifteen years. They also know what facilities they’re going to need to make their plans a reality.
However, in the mining sector, for example, it’s hard to expect companies to be able to run day-to-day operations and at the same time understand best-in-class supply chain and property options.
This is where experts can objectively quantify what’s in a mining supply company’s best interest by using real-time supply chain and property benchmarking data.
Put simply, experts work with the business and the property market to hunt down a property that best meets their requirements, which is no easy feat in a supply constrained market.
What does the future look like?
We’re encouraging businesses to think differently, which can be as simple as doing their homework on their own business to establish their current and future needs rather than making ad lib decisions.
This means initially understanding what they require operationally for the future, and then sourcing a suitable property/properties, rather than the traditional approach of finding a property and trying to make it work for their business.
We’re finding more and more businesses are beginning to understand the necessity of this approach, and the need to use expert guidance throughout these complex transformations.