As companies strive to enhance profitability, reducing costs often becomes a primary focus. It’s relatively straightforward to identify waste in manufacturing or production processes. However, the same cannot be said for the transactional, administrative functions that constitute much of a business’s overhead. These “hidden” areas routinely go unnoticed, yet they hold significant potential for cost…
As a business leader, one of your key responsibilities is to ensure your organization can consistently meet customer demand while maintaining operational efficiency. This delicate balance is the core of sales and operations planning (S&OP)–a cross-functional process that aligns your sales forecasts with your production and inventory capabilities. Done right, S&OP creates a shared view…
During a performance review, I found out my work-life balance was off because I was unknowingly doing three times the work of my colleagues. That made me rethink my approach, and I decided to give Leader Standard Work a shot. By jotting down my daily activities and sorting them into value-added or not, I figured…
Companies constantly seek ways to streamline their processes, reduce waste, and improve overall efficiency. One powerful approach that has gained widespread adoption is the implementation of lean systems. Lean manufacturing principles, originally pioneered by Toyota, have evolved into a comprehensive toolbox that can be applied across various industries to drive transformative change. At the heart…
Imagine walking into a once-thriving company now teetering on the brink of failure. Desks are empty, morale is low, and the future looks uncertain. For private equity partners, this scene is a call to action. Turning around underperforming assets isn’t just about tweaking a few processes; it’s about a complete transformation. It’s about taking strategic,…
In a perfect world, a deep dive into the financials of a potential acquisition would be enough to determine whether you should make an offer. Unfortunately, this isn’t a perfect world. So, while considering the financials of a company during the lead up to acquisition is important, it doesn’t tell the whole story. Attractive profit…
Interest rates have always had a profound impact on the manufacturing sector. As an economic inevitability, their rise can take businesses by surprise, triggering a series of responses to mitigate the effects. While I’m not an economist, throughout my decades in the industry I’ve noticed several trends in the industry as businesses grapple with these…
In Part 1 of this two-part series, we examined just how important it is to every level of your business to ensure your operational due diligence is done as quickly and efficiently as possible. But the question remains: How do you speed up the operational due diligence process and reap the benefits of informed decision-making,…
Imagine a small distribution company, with an annual revenue of $12 million. A plant branch of a multimillion-dollar organization, it has 15 employees and a glaring issue: only 40% of shipments reach their customers on time. This means that 6 out of 10 customers aren’t receiving their orders as expected. The CEO recognizes the problem…
Back in my days as a site lead in manufacturing, I had an operator who made a common problem all too clear to me. At the end of the shift, I asked him how his day had gone. “It was a great day,” he said. “Well, that’s good,” I said, then asked him what made…
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