Why Lean Alone Won’t Fix Your Business
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…
Read MoreThe Lost Art of Work Assignments
In the early days of my career, I worked for a manufacturing firm under a very astute CEO. We were in the middle of a critical project when he asked me to take on a significant task. He didn’t just send an email saying, “Do this.” Instead, he made a point to explain why the…
Read MoreLead Time Reduction: Boosting Cash Conversion for Your Business
My wife was recently involved in a car accident. She was thankfully unhurt and it wasn’t her fault. Because she needs her vehicle, we paid out of pocket to have it repaired while simultaneously working with the insurance company to get them to cut the reimbursement check. For us, keeping the time between paying out…
Read MoreThe True Costs of Poor Quality
When we think about quality in the manufacturing realm, we generally limit our focus to the tangible aspects of products such as parts, components, and their fit, size, finish, and alignment. Poor quality, however, extends far beyond what you can feel and see. As do the effects, not just on the consumer but within the…
Read MoreThe Fallacy of the Silver Bullet: Why a Whole System Approach is Essential for CEOs
Once, early in my career, I was standing above a Toyota assembly line in Japan. Looking down at the plant floor, I realized that at any given time, a hundred different kinds of vehicles were rolling off the line. I felt like being there and seeing all of this was essentially akin to giving away…
Read MoreDeploying a Strategic Plan for Manufacturing CEOs
In my work with companies across the manufacturing landscape, I see it all the time. While many companies are great at creating strategies, very few are adept at deploying and managing them. Many companies mistakenly view their budgeting cycle as strategy deployment, keeping their focus solely on spending money on the things they predict will…
Read MoreTwo Quick Key Indicators for Assessing the Health of a Company Before Acquisition
When you’re thinking about buying a company, it’s important to look at more than just the financials. You also need to assess the company’s operational health. What’s amazing is that two of the best metrics for gaining a valuable amount of information on the operations side of things–namely, inventory levels and workforce engagement–can be gathered…
Read MoreDriving Strategic Change Through Culture
We have a saying around here: Culture eats strategy for breakfast. In every industry, culture is a powerful force that can either propel or hinder strategic change initiatives, but nowhere is it more apparent than in manufacturing. And as the saying above suggests, a well-crafted strategy alone will not guarantee success unless it’s supported by…
Read MoreShare Available Improvement Opportunities With Potential Buyers
Thinking about selling your company or if you want to explore how simple it can be? Preparing an operational improvement plan is key. Competitive Business Solutions can help you prepare to sell.
Read MoreThe Fifth “S” and why it should be the first…
“Stick Rate” is a term often used to describe the ability of a change to a process to remain in place over time. There is no more evident and frustrating example of this than when companies attempt to implement a 5S program. Anyone in the manufacturing sector that has experienced a 5S program rollout will…
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