咨询管理战略组织项目麦肯锡工具评估 BER-0072-04798-01-04b.PPT

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1、-1-Roland Berger&Partner GmbH International Management ConsultantsBarcelona Beijing Berlin Brussels Bucharest Budapest Buenos Aires Delhi Detroit Dsseldorf Frankfurt Hamburg Kiev Kuala Lumpur LisbonLondon Madrid Milan Moscow Munich New York Paris Prague Riga Rome So Paulo Shanghai Stuttgart Tokyo Vi

2、enna ZurichAudit of the Restructuring Concept Enclosures to Final presentation Boeder Deutschland GmbHFrankfurt/Main,1st of September 1999BER-0072-04798-01-04b-2-This document was created for the exclusive use of our clients.It is not complete unless supported by the underlying detailed analyses and

3、 oral presentation.It must not be passed on to third parties except with the explicit prior consent of Roland Berger&Partners.ContentPage1.Initial Situation32.Market and competition analysis153.Content of restructuring Concept24BER-0072-04798-01-04b-3-1.Initial situationBER-0072-04798-01-04b-4-The b

4、oeder group achieves only in 1998 positive EBTEBT and PAT boeder-GroupDM mSource:boeder,Roland Berger&Partners-analysisEBTPATBER-0072-04798-01-04b-5-Development of external turnover of foreign subsidiaries and boeder Germany DM mSource:boeder,Roland Berger&Partners-analysisGermanyBeneluxSpainFranceI

5、talyNLUKSwitzerlandAustriaAsiaInternational/EastTotal199519961997199872.27.17.410.71.918.76.67.61.661.6Back-up80.37.07.611.19.22.417.86.28.11.568.164.16.37.413.615.02.418.99.37.60.044.985.463.19.313.117.022.20.817.39.17.00.027.2103.021996-1998 CAGR-11.4%15.3%31.3%23.8%55.3%-42.3%1.4%21.2%-7%119%18.7

6、%1)1)9 month-Effect(X 12:9/8.3 Mio.)foreign subsidiaries and Int./EastYearCountryBER-0072-04798-01-04b-6-Through loss of clients and the struggle of Vobis DM 7 m of German turnover are probably lost in 1999Turnover structure boeder Germany 1998/1999DM mSource:boeder,Roland Berger&Partners-analysisTo

7、tal 1998Lost clients(Comtech,Escom)Vobis(1998)Turnover by losing VobisVobis(expected 1999 based on 1.half 1999)Expected(ceteris paribus)=-7BER-0072-04798-01-04b-7-High increase of Storage Media turnover from 1998 to 1999Sales by product groups boeder Germany%Source:boeder,Roland Berger&Partners-anal

8、ysisMulti MediaOfficeHard CopyStorage Media100%100%19980106/1999BER-0072-04798-01-04b-8-While retail channel is decreasing C&C increases sales to 24.8%of total turnoverTurnover by sales channels boeder Germany%Source:boeder,Roland Berger&Partners-analysisStationaryC&CFood DiscounterRetail100%100%Add

9、itionalB.to B.CatalogTele-SalesA-channels 82.5%A-channels 81.7%BER-0072-04798-01-04b-9-Hard copy and Storage Media cover one third of turnover but only one quarter of gross marginGross margin/turnover status by product groups boeder Germany 1998%Source:boeder,Roland Berger&Partners-analysisBack-upOf

10、ficeMulti MediaHard CopyStorage MediaTurnoverGrossmarginBER-0072-04798-01-04b-10-In 1999 Storage Media covers 30%to turnover,but only 12%of gross marginGross margin/turnover status by product groups boeder Germany 01-06/99%Source:boeder,Roland Berger&Partners-analysisBack-upOfficeMulti MediaHard Cop

11、yStorage MediaTurnoverGrossmarginBER-0072-04798-01-04b-11-Increasing of gross margin into Retail and Food-Discounter Sales-ChannelGross margin by sales channel boeder Germany 1998/1999%Source:boeder,Roland Berger&Partners-analysisBack-upRetailFood-DiscounterC&CStationaryTele-SalesCatalogB.to B.Addit

12、ional19981999%changegrowth rate10.59.8-9.5-22.7-65.4060.361BER-0072-04798-01-04b-12-Decreasing total gross margin in Retail-business caused by turnover loss of Vobis increasing gross margin ratio in Food Discounter and C&CGross margin by sales channel boeder Germany 1998/1999Source:boeder,Roland Ber

13、ger&Partners-analysisBack-upRetailFood DiscounterC&CStationaryTele-SalesCatalogueB.to B.Additional100100BER-0072-04798-01-04b-13-At least 45%of products generate losses in 1999Product by gross margin boeder GermanySource:boeder,Roland Berger&Partners-analysisTotalSubs-Articles 1998GM 0Products 1998

14、unitsProducts 1999 unitsTotalSubs-Articles 1998GM 0 474 518BER-0072-04798-01-04b-14-Calculation-scheme for analysis%Source:boeder accountingGross SalesMerchan-disingSkonti/BoniOutgoing FreightNet SalesCOSGross MarginBack-upIncome deductions 7%at leastBER-0072-04798-01-04b-15-2.Market and competition

15、 analysisBER-0072-04798-01-04b-16-Competitive environment analysis:SuppliersSource:Roland Berger&Partners-market researchBack-upSuppliersForce their own Retail-sales-activities by using their international market power(Quantity is succces factor)Aggressive taiwanese suppliers trying to enter into eu

16、ropean market(Low price is success factor)HPEpsonCanonLexmarkTaiwaneseSuppliers1.BER-0072-04798-01-04b-17-Competitive environment analysis:SubstituteSource:Roland Berger&Partners-market researchBack-upSubstituteDue to technology skips in R&D and production short lifecycles in MM-product will be effe

17、ctedHigh danger of write offs based on aged stockEndusers is very price sensitive based on short technology cycles.Only products with an attractive price/earning-ratio are successfull2.BER-0072-04798-01-04b-18-Competitive environment analysis:CustomersSource:Roland Berger&Partners-market researchBac

18、k-upCustomersConcentration in process in Food-Discounter and C&C-market(eg.Karstadt/Quelle,Metro/Kaufhof/Saturn)Establishing own national and international procurement companies(Gemax,Merkur-Kaufring,EP,Aera,Interfunk)Due to branch dynamic danger of delisting.Image,branding and an attractive price/e

19、arning ratio are key success factors3.BER-0072-04798-01-04b-19-Competitive environment analysis:New customersSource:Roland Berger&Partners-market researchBack-upNew customersEstablishing assortment structur-using own brand,installing new sales structure with focus on retail marktes(new)Due to merger

20、 using synergy-potentials,building up new business related to current business fieldsDue to merger with other companies criti-cal procurement and sales mass is achieved4.Xerox(Rank)EsselteZweckformBER-0072-04798-01-04b-20-Financial Benchmarks boeder Germany/CompetitorsSource:Roland Berger&Partners-m

21、arket-researchn.a.:not availableBack-upCompetitors/boeder GermanyTurnoverm DMboeder GermanyGeniusPrimaxGuillemotZweckformPelikanEBITm DMProductgroupsSales channelsTendenciesMat.Expensesm DM118.642.866.7147.2181.8267.9-1.211.10.57.51.32.8Total rangeTotal rangeTotal rangeTotal rangeOfficeOffice/Hard-C

22、opyAll kinds of saleschannelsRetailStationaryRetailOnline-servicesMail-orderOEMRetailStationaryC&CRetailStationaryFood-DiscounterC&CRetailFood-DiscounterC&CStationaryStabile turnoverLicence partners:Xerox,Umax,AgfaStrategic alliance with Visioneer+PrimaxEstablished in North Amercan marketPlaned expa

23、nsion in europePartner:TrustmasterChange form specialist to generalistMarketing offensive planedProduct-Portfolio clearance96.839.656.9n.a.71.3n.a.BER-0072-04798-01-04b-21-Only 2 competitors with full assortment rest are niche playerCompetitors by Product-groups of boeder GermanySource:Roland Berger

24、&Partners-market-researchProduct-groupsboedercompetitorsboeder GermanyGeniusPrimaxGuillemotZweckformPelikanFellowesOffice DataMulti MediaOfficeHard-CopyStorage MediaRemarksTotal range playerniche playerniche playerniche playerniche playerniche playerTotal range playerTotal range playerBER-0072-04798

25、-01-04b-22-Buying criterias by customers(sales channels)Source:Roland Berger&Partners-expert-interviews+:strong;+:positive impact;+:no impact;=:not strong/positive Back-upHard-CopyOffice-productsMulti MediaStorage MediaQuality+Criteria+0Price+Image/Brand+Availability+0+Additional remarks+all product

26、s with nearly same quality and price+one rack strategie successfull+all products with nearly same qualityBER-0072-04798-01-04b-23-The boeder Group provides relevant market requirementsOverall Assessment boeder GroupSource:Roland Berger&Partners-analysisFull assortmentExisting contracts/contracts to

27、suppliersExisting contracts/contracts to sales channelsBrand nameBroad range of services for customer groupStandardized SAP-interfaceNo critical procurements and sales volumeDeficits in organization and managementNo marketing powerExpensive group structureNo strategic alliances with suppliers/custom

28、ersNo technical competenciesBER-0072-04798-01-04b-24-3.Content of restructuring conceptBER-0072-04798-01-04b-25-boeder Group plans turnover growth only with foreign subsidiaries boeder Germany with stringing turnover Turnover development boeder-GroupMio.DMSource:boeder,Roland Berger&Partners-analysi

29、sboeder Germanyboder foreignsubsidiaries166,1179,52.7%14.7%8.1%Austria,Benelux and Spain are growing with a ratio over 30%International,Italy and France are expecting turnover increasing in a range from 7-18%UK and Switzerland with decreasing turnoverDecreasing turnover by reducing sales of Storage

30、Media and Vobis/Comtech-StruggleAssumptionsBER-0072-04798-01-04b-26-Turnover-development boeder-Groupm DMSource:boeder,Roland Berger&Partners-analysisBack-upInterna-tional19981999/2000AsiaAustriaBeneluxFranceItalyPolandUKSpainSwitzer-landboeder Germany6.9%34.3%31.2%18.2%13.3%-5.8%35.9%-3.2%-1%change

31、%BER-0072-04798-01-04b-27-Gross-margin-development boeder-Groupm DMSource:boeder,Roland Berger&Partners-analysisBack-upInterna-tional19981999/2000AsiaAustriaBeneluxFranceItalyPolandUKSpainSwitzer-landboeder Germany70%23.5%6.3%7.0%6.9%-11.6%3.8%14%-4.8%-100%change%BER-0072-04798-01-04b-28-Due to plan

32、ned turnover in sales channels two main risks are identifiedTurnover Plan by sales channels boeder-Group%Source:boeder,Roland Berger&Partners-analysis1998Food-Discounter100%100%However retail business in Top 27 customers evaluation is planned with 19%less turnover boeder assumes only decreasing turn

33、over of-3%Against market-trend in Food-Discounter with growth-rate from 2%boeder plans an increasing in turnover of 11%AssumptionsRestStationaryC&C1999/2000(Plan boeder)BER-0072-04798-01-04b-29-Gap of DM 5 m turnover in retail business no clear measurements how to close gapResults Top 27 customer-ev

34、aluation boeder-Germanym DMSource:boeder,Roland Berger&Partners-analysisUnknown who are new customers(not in budget)Unknown how to achieve 20.2%more turnover with current retailersAssumptionsRetail 1998 in Budget Top 27Retail 1999/2000 to achieve Retail goalRest of retail customers 1999/200020.2%BER

35、-0072-04798-01-04b-30-Measure description:Reduction of Personnel-costsSource:boeder,Roland Berger&Partners-analysisPositionTurnoverMaterialPersonnelOther operatingReverseDepreciationInterestOperating profitExtra ordinaryProfit-effectInvestmentsCashLiquidity-effectQualitative target:Increase of produ

36、ctivityReduction of complexity through leaner assortmentQuantitative target:Reduction of 19 peopleReduction of 5 lease carsDownsizing of 9 lease carsAssumptions:Wages/salary as indicatedNo Social plan because accrual was capitalized in FY 1999Risks:Demotivation of personnelMeasureEffects 000 DMYear1

37、999/20002000/20012001/20021,269711,3401,3401,3402,0321162,1482,1482,1482,0321162,1482,1482,148Back-upBER-0072-04798-01-04b-31-Measure description:Hire necessary new personnelSource:boeder,Roland Berger&Partners-analysisPositionTurnoverMaterialPersonnelOther operatingReverseDepreciationInterestOperat

38、ing profitExtra ordinaryProfit-effectInvestmentsCashLiquidity-effectQualitative target:Optimize staff in every departmentQuantitative target:Employ 7 people full time2 new lease car agreementsAssumptions:Wages/salary as indicatedCosts for personnel search:k DM 130(accrual was capitalized in FY 1999)

39、Risks:MeasureEffects 000 DMYear1999/20002000/20012001/2002-983-23-1,006-1,006-1,006-1,364-24-1,388-1,388-1,388Back-up-1,364-24-1,388-1,388-1,388BER-0072-04798-01-04b-32-Effects of organizational measuresnumberSource:boeder,Roland Berger&Partners-analysisManage-mentFinanceEDPMarketingSalesStock sales

40、BochumAdmin.InternalServices(sales back-up)Other1)-14 -21 7Back-up1)Purchasing,personal,mail,order,processing)already in company leftstill employed(fired and not fired)BER-0072-04798-01-04b-33-Measure description:Negotiate cash-discountsSource:boeder,Roland Berger&Partners-analysisPositionTurnoverMa

41、terialPersonnelOther operatingReverseDepreciationInterestOperating profitExtra ordinaryProfit-effectInvestmentsCashLiquidity-effectQualitative target:Reducing the costs of finance and interestUsing opportunities of cash discountsQuantitative target:Use agreed cash discount(FY k DM 454)Agree addition

42、al cash discount(k DM 2,078)Assumptions:Interest rate 6%,factoring rate 6%Target for all suppliers:30 days,3%discount(excluding the existing contracts)Cash demand of DM 7.20 m to pay earlierOpportunities to increase cash availability:Increase bank draftOutbound factoring(not before 2000)Increase sha

43、reholder capitalInbound factory(not before 2000)Risks:Necessary cash is not availableMeasureEffects 000 DMYear1999/20002000/20012001/2002227-451821821822,532-3602,1722,172 2,1722,532-3602,1722,172 2,172Back-upBER-0072-04798-01-04b-34-There could be high still not quantifiable risks in moving the War

44、ehouse from Bochum to FrankfurtSource:boeder,Roland Berger&Partners-analysisOldSystemNewSystemVery shortperiod forremovalEfficiency ofwarehouse could go down by 30%andeffect ChristmasbusinessnegativelyNot enough people move from Bochum to new warehouse(5 necessary)Cost ofmove are still notestimated(

45、rough assumptionKDM 100)People in warehouse Bochum could be demotivated andcause a delay in implementing new warehouse-software inBochum in September1999 and in warehouse Frankfurt in October 1999Warehouse:BochumLogistics:RSGBER-0072-04798-01-04b-35-Measure description:Reorganize logisticsSource:boe

46、der,Roland Berger&Partners-analysisPositionTurnoverMaterialPersonnelOther operatingReverse1)DepreciationInterestOperating profitExtra ordinaryProfit-effectInvestmentsCashLiquidity-effectQualitative target:New warehouse for boeder Deutschland in Frankfurt areaLogistics by ClasquinOptimized ordering p

47、rocessesQuantitative target:Reduction of logistics and storage costs by m DM 0.45 employees move from Bochum to Frankfurt to build up new warehouseAssumptions:No profit from RSG anymore(m DM 320)Product range is smallerPeople are hired from September 1999 on(k DM 75 per person and year)+k DM 400 par

48、t time workersWarehouse must be rent from September 1999 on(2,000 m2 DM 10.50/month+DM 2 other costs)Estimated cost for Clasquin:2,4 m DM from October onNo additional warehouse for subs necessaryManagement capacity RSG paid for before cant be reduced(k DM 1,000)Risks:Dependance on ClasquinDelays in

49、delivery for Christmas businessMeasureEffects 000 DMYear1999/20002000/20012001/2002-765-3,5904,633278-537-259-259-1,150-3,0704,633413413413-1,150-3,070 4,633413413413Back-up1)former costs billed by RSG-Profit RSG-Management feesBER-0072-04798-01-04b-36-Effects of reorganizing LogisticsDevelopment of

50、 logistic costs000 DMSource:boeder,Roland Berger&Partners-analysisRSG-LogisticsExtraordinaryClasquin-logisticsOther operating costsPersonnelRent5,7805,2103,820-34%BER-0072-04798-01-04b-37-Comparison of warehouse-systemSource:boeder,Roland Berger&Partners-analysisFrankfurt(new system)Bochum(old syste