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Commodity Businesses, Throw Out Continuous Improvement!

I was asked to give a speech in January of 2008 on trends and opportunities of 2008. While researching for the speech, I reviewed the last several months of Wall Street Journal alerts and other trends, and the overall story was downright scary - oil continues to push to [...]

2020-10-07T23:51:35+00:00April 25, 2013|Categories: Manufacturing, Supply Chain|

Sarbanes Oxley

Meant to protect investors and increase transparency in corporate accounting, implementing the Sarbanes Oxley Act takes some organizational introspection.The 2002 Sarbanes Oxley legislation (new, enhanced standards for all U.S. public companies) was established in response to high-profile financial scandals (Enron etc) in order to protect shareholders and the general [...]

Customer Collaboration

Customer collaboration is always a good idea; however, leveraging customer collaboration during challenging economic times can be one of the keys to success. Pick up the phone - some of the largest successes I've seen result from simple yet critical conversations. It can be as simple as calling a [...]

2020-10-07T23:51:35+00:00April 25, 2013|Categories: Manufacturing, Supply Chain|Tags: , |

Tips to increasing sales revenues

Clearly, one of the keys to thriving in the current recession is to be ahead of the competition in terms of sales: Remember value - don't focus solely on price. Focus on value, defined in terms of value perceived by your customer. Differentiate yourself with customer service - providing [...]

2020-10-07T23:51:35+00:00April 25, 2013|Categories: Manufacturing, Supply Chain|

Tips to Reduce Operational Costs

In today's economy, there is no doubt a large focus on reducing operational costs (whether they are the traditional operational costs of a business or the day-to-day personal operational costs). Reducing operational costs reduces your breakeven point - definitely a key to success in today's economy: Reduce waste - [...]

2020-10-07T23:51:35+00:00April 25, 2013|Categories: Manufacturing, Supply Chain|

Defining and Controlling Costs

Navigating growth gets tricky if you lose perspective on spending. Keep costs under control by identifying the spot where people, process and technology work best.Understanding and controlling costs has always been a critical success factor for the majority of businesses; however, during times of economic turmoil, it elevates to [...]

Budgeting

Always an appropriate topic but especially key during a recession: Plan - as obvious as it sounds, think in advance about your projected income and expenses. I'm constantly surprised how many businesses and households do not plan and then are surprised at the results. Think big picture - forget [...]

2020-10-06T20:53:53+00:00April 25, 2013|Categories: Strategy|

Innovate or Die

In today's economic environment, slow and steady progress, a continuous improvement philosophy and a low-cost producer, commodity focus will likely result in death. Why? Because it takes more than "good" to stand out in the crowd and deliver consistent and growing profitability; it takes radical change and innovation. In [...]

2020-10-07T23:51:35+00:00April 25, 2013|Categories: Manufacturing, Strategy, Supply Chain|
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