4 Reasons to Pursue Management System Certification in a Down Market
Don’t Let a Down Market Stop You From Achieving Management System Certification
There is no doubt that recent events have wreaked havoc on the global economy. The downturn in the oil and gas industry, for example, has had a ripple effect on many other related industries – from oilfield services to machine shops and more. During a slowdown, management’s first instinct is self-preservation. This is understandable, and can be seen in many forms – from difficult layoffs to cutbacks on discretionary expenditures. Organizations may even put management system certification on a back burner. When experiencing a downturn, some might consider ISO 9001, ISO 14001, ISO 45001, ISO 13485 or even API Spec Q1 and Q2 certification an expense because it is not directly generating revenue. But consider this: is it really an expense or is it a strategic investment? This article will cover the top 4 reasons to pursue management system certification in a down market.
1. Gain a Competitive Edge
Keep in mind that other companies in your industry are going through the same challenges. If business is also slowing down for your customers, they may not need as many suppliers. When that happens, they may shorten their list to only ISO or API certified suppliers. Will you be on that list of their approved vendors or suppliers?
2. Attract New Business Opportunities
When business is good, most organizations focus their energy on fulfilling the current production or service needs. When business slows, companies look to diversify into other industries or product lines. If you are looking for new customers, wouldn’t you want your company to stand out from the crowd? Wouldn’t you want to convey to the new market that you are on the cutting edge of quality and efficiency?
3. Increase Revenue and Reduce Costs
According to a study conducted by the Center for Economic and Business Research, every dollar spent on a quality management program returned $6 in revenue, $16 in cost reduction and $3 in profit. This shows that it actually pays to have a management system, such as ISO 9001, in place.
4. Easier Ramp-Up
Organizations can invest time in becoming knowledgeable on the quality, health, safety or environmental management system(s) in place. Once certified, you have a management system in place that will be easily scalable when business picks up. You will have the foundation to grow your business as a top-tier quality company in your industry.
Pursuing management system certification when business slows is a strategic investment. Your organization can gaining a competitive edge against others who might continue to put it on hold. Organizations that have the means to implement a management system have more to gain than to lose. Have questions on how to start your journey to certification? Contact us to speak to a consultant today.
Victoria Ontiveros | Marketing Coordinator
Victoria focuses on creating quality educational content that provides value to current and potential clients. By collaborating with members of leadership and sales, she is able to develop informative articles that answer common questions and connect with current trends.
Victoria earned her Bachelor of Science in Sociology with an emphasis in communications from Texas A&M University.