Tag Archive: industry

A Once-in-a-Lifetime Opportunity for Manufacturing, Logistics & CA to Align

July 15th, 2019

Last week, I went to the California Capitol building as a part of the Inland Empire Economic Partnership’s (IEEP) regional leadership academy. It was interesting to hear how the process works. I also am also representing the IEEP’s Logistics Council as it relates to moving forward with the Brookings report recommendations to create a consortium of logistics and advanced manufacturing excellence in the Inland Empire.

We are positioned ideally to scale up and partner with industry, academia and government/non-profit partners to achieve this once-in-a-lifetime opportunity of aligning seemingly disparate goals of manufacturing, logistics, California government and the federal government’s interests to achieve a win-win-win-win. Wouldn’t that be a feat!

The idea is simple. The Inland Empire’s predominant high-paying professions include logistics and manufacturing. The IE has been outpacing all of California in job creation due to these industries yet they are not typically supported (to say the least!). Since they are contributing vitally to the IE community and jobs, we have the cards stacked in our favor:

  • IE logistics is #1 in the U.S.
  • IE manufacturing is strong and vast (SoCal is #1 in manufacturing in the U.S.)
  • The IE has access to great talent in the local and surrounding area universities (CSUSB, UCR, Drucker, Harvey Mudd, Cal Poly, Redlands), community colleges (Norco, Chaffey etc.), and partners such as GA Tech
  • And, the IE is in the unique position to leverage advanced technology to increase customer value, improve profit and create clean technologies as a win for the environment, X.

Thus, we are scaling up and collaborating for success.

This opportunity didn’t just fall into the IE’s lap. The leaders saw potential and ‘went for it’. Are you looking for opportunities?

One tip to implement this week:
In our work with clients, it is commonplace for clients to ignore vast opportunities such as this exciting initiative. There are always roadblocks, different interests, money flows to address and lots of other issues that arise. The key question is whether you are looking at each issue as a detriment or if you see the big picture and train your eye to ‘see’ a successful path forward.

Recently, our APICS Inland Empire chapter had the opportunity to provide training and education to Target (thanks to our partnership with the University of LaVerne). When the opportunity arose, we didn’t know how we would scale up and fulfill it successfully. However, we took the leap of faith to create value and had the confidence that we’d figure it out.

At first, we were worried about executing against our commitments.  Yet, it all fell into place. It forced us to be a bit more creative.  So, when the next leap of faith opportunity arose to provide manufacturing and logistics education to high school students to help bridge the gap to a profitable career, we went for it. We continue to evolve as we go but it has allowed us to make a difference in a way we would never had pursued or been involved with previously. Are you taking a leap of faith?



How Resilient Are Your People?

January 17th, 2019

We would be remiss if we went too far down-the-path with supply chain resiliency without pointing out that the ONLY way you’ll have a resilient supply chain is if you have resilient people.  Similar to building a house, without a solid foundation, the best accessories will fail to “hold up” over the long haul without that solid foundation.  Your team is your foundation.  Would you be willing to have your business hang in the balance if your team’s ability to “hold it up” would make or break success?  Hopefully so!

Here are a few questions to think about to determine how comfortable you are with your foundation:

  • If your competition offered your employees slightly more money, would they jump ship without much thought?
  • Are your people willing to take a risk if they know the decision will help move the company forward?
  • Are your people willing to disagree with you?
  • Are your people willing to try new ideas, even if they fail?
  • If a customer presses your people about an issue, will they blame it on “them” or will they take responsibility to resolve the issue quickly regardless of whether it has anything to do with them?
  • If changing market conditions dictate they should follow a new course that isn’t popular or approved, will they bring it up?
  • What do they say to your customers and suppliers when you aren’t listening?

Every executive at our Harvey Mudd executive roundtables and on the APICS-IE executive panel pointed out the relevance of culture and your people on business success.  Technical topics are abuzz but the REAL buzz is who has the strongest team as they will speed on by the competition and be the most resilient as the economy turns, the industry changes, a disruptor emerges etc.  With this fresh perspective, it pays to think again about your team and the priority you give it.



The Importance of Continual Learning

September 18th, 2018

Recently, we updated our website.  It prompted a lot of thinking about many aspects of business.  One is the importance of continual learning.  As you’ll see on our Continual Learning webpage, it is a priority.  With that said, I’ve noticed that the most successful people (clients, colleagues, fellow Board members etc.) have continual learning in common.  There is definitely something behind this trend!  It reminds me of one of our LMA Advocate winners, Valerie Ladd – her continual learning is quite impressive.  She never stops learning – and all with a positive attitude to boot.

 

 

 

 

When thinking about continual learning for LMA Consulting, we focus on three categories:

1) Future trends in business, the economy, the industry, our area of expertise etc.
2) Technology trends & disruptors
3) Local & global trends.

What are you learning?

One tip to implement this week:
There are countless ways to add or expand on your continual learning.  Instead of getting stuck in a sea of possibilities, just choose one or two and start there.  Don’t worry if they are the best ones or will provide the greatest benefit.  Just start!  Waiting for perfection is a LONG road….your competition will certainly pass you by.

With that said, if you’d like some ideas of where to go for continual learning, here are several that pop to mind:
1) Ask your mentor.
2) Talk with colleagues and ask what they are learning – or ask to learn more about their role and challenges.
3) Go to a trade association meeting.  For example, APICS Inland Empire provides programs, symposiums, tours and education to provide value to manufacturing and distribution professionals.
4) Go to an alumni meeting.
5) Attend a local chamber or business club.
6) Read the news, magazines and blogs related to your field.
7) Call a customer or supplier.
8) Join a mastermind.
9) Call a former colleague or manager.
10)  Attend a tradeshow.

What are you going to do?



Amazon’s Deal with Party City & More Competitors

September 8th, 2018

While I presented on the Amazon Effect to a specialty group of ProVisors (trusted advisors) members focused on manufacturing and distribution recently, Amazon was firming up a deal with Party City to offer an assortment of items. This is just the latest in a stream of retailers collaborating with the competition.  Party City follows Kohl’s (see the sign in the picture below), Sears, Nike, Chico’s and more. This is especially interesting because at our recent Harvey Mudd executive roundtable event, almost every CEO mentioned a time when he/she collaborated with the competition.  Perhaps we should be keeping our mind open to the possibilities?

 

 

 

 

 

What Should We Consider and/or What Impacts Could Arise?

Since Amazon is willing to search for win-win deals with the competition, who knows what will come next?  Are you impacted by Amazon? Every client we work with has said they are impacted in one way or another – yet 1% actually work or compete directly with Amazon.  They have certainly become a disruptor! Perhaps that’s why such an ‘old’ topic is still requested by several groups in speaking circles.

Who is the Amazon of your industry?  Or, can your company take on that role?  It can be easier to create the rules than to follow behind.  Yet, if no one follows, that can be an equally significant issue, as well.  

It may be worth asking questions of your employees – are they paying attention to what’s going on in the industry and with your supply chain partners?  Do they have ideas that might revolutionize your customer experience? How do you know if you haven’t asked? Or encouraged innovation?

In 100% of our clients, we’ve found employees with ideas that management knew nothing about.  9 times out of 10, the ideas have some merit. You never know…..it may very well lead to being the  disruptor.

 



Technologies: Paying Attention to What is Important

September 6th, 2018

There are so many new technologies and combinations of technologies, it is extremely hard to keep up.  How do you know which to pay attention to and which to ignore? Unfortunately, some clients have told us they get overwhelmed by it all and just go back to what they are expert in (running the business) and postpone the technology decision.

As much as we find that technology is NOT #1 to success, achieving scalable, profitable growth without technology is an uphill battle to be sure!  We also find some technology enthusiasts who get so bogged down in technology as the “be all, end all” to success that they actually struggle. Instead of either of these extremes, use a bit of uncommon common sense and determine which technologies are important.  A few points to consider:

  1.  Your Industry:  There is no point being an early adopter if unnecessary in your industry unless it is your competitive advantage.  Where is your industry headed? What would provide a benefit?
  2.  Your Position:  If your competitive edge is being on the forefront of delivering an exceptional customer experience, you better figure out what you need to succeed in this differentiator.  If this is the case, we bet you would need to invest in technology that would enable a superior customer experience. But it is unlikely you’d need other technology advances.
  3.  Return on Investment: As exciting as new technology can be, it pays to ensure you’ll gain an ROI.  Go through the exercise to determine if technology will enable growth, profitability, cash flow or another bottom line benefit.
  4.  Your Current State: A few of our clients have been in a position where they were limited in growth prospects without enabling technology.  Of course, they could grow by brute force with a stellar sales and marketing team; however, to grow in a scalable way, they will need to leverage technology instead of hiring just to ‘keep up’ with growth.
  5.  Your Strengths:  As with most priorities, focus on your strengths.   It can be tempting to “keep up with the Joneses” and buy the latest and greatest technology you think your competition is using.  However, instead of throwing good money after bad, think about your company’s strengths, your teams’ strengths and what makes the most sense to align those strengths with customer requirements.

In today’s Amazon impacted environment, evaluating technology to best support your business objectives is a “must”.  As much as can be accomplished through people and process alone, you will not thrive without at least thinking about technology.  

You want to be aware of what’s coming down the pike in terms of technology before you head over the edge in complete denial with your typewriter in hand.  After all, who would have thought network TV would trend towards becoming obsolete?