Tag Archive: value

LMA Advocate 2020: Shannon Reininger

September 10th, 2020

In 2015, we kicked off the LMA Advocate awards to recognize those people who have been instrumental to our growth and success.  We started with 10 people to celebrate the 10 years since we started the business and we now add one each year. Although I’ve learned plenty along the way, one thing I did “right” from the start was “collect” good people. Our LMA Advocates are the “best of the best” who we’ve worked with through the years.  I am eternally thankful and thrilled to work with them. For 2020, I’m excited to recognize Shannon Reininger.

 Shannon Reininger and I have worked together for 10 years with clients, as well as with non-profit board collaborations. We worked together at two separate clients.  She is well-respected for her hard work, innovative capabilities (always finding new solutions to complex issues) and the value she brings to the bottom line.  In fact, a third client brought me on board solely based on her recommendation that LMA was the group to work with to achieve SIOP results. Shannon turned around planning/ production control, materials management, procurement and logistics functions at multiple clients and she never stops. She is one of the few professionals I’ve met who can manage effectively in turnaround situations, as well as profitable growth scenarios. It stands out in my mind that she not only took on a new area (reverse logistics) to learn the ropes, but she also found ways to work with the team to build morale and drive significant value to the bottom line.

We have also spent quite a bit of time together working on non-profit objectives related to ASCM/ APICS. She took on educating coworkers on the APICS body of knowledge. And, of course, she took it further than the typical instructor to ensure her coworkers learned and could apply the concepts. She has also helped me brainstorm topics such as how to manage cost up the chain in the aerospace industry, how to proactively manage demand in a make-to-order/engineer-to-order environment and many more. Shannon makes a positive, lasting imprint on her work places, colleagues and association members.

One Tip to Implement This Week:
Follow Shannon’s lead. Here are a few of the NUMEROUS options you can pursue that pop to mind when thinking of Shannon and her many accomplishments.

  1. Never stop learning: Pursue your APICS certification. Don’t be afraid to dive into new topics, try new ideas, attend conferences and brainstorm with colleagues, etc.
  2. Never stop improving: Research the latest trends, test new theories, trial new products, services and processes, implement what works and improve upon what doesn’t.
  3. Never waste resources: Always look for ways to maximize benefit, minimize risks, reduce waste and utilize already-existing resources to achieve progress.
  4. Never assume you know it all: Listen to your team’s ideas, remove obstacles and help the team turn ideas into reality.
  5. Never lose sight of the customer: Keep your customers and their needs top of mind.
  6. Never stop looking for new solutions: During COVID, Shannon quickly went to her local restaurant to use excess stock in a win-win deal while everyone else followed a panic shopping strategy.

Many of these strategies are simply uncommon common sense and best business practices. Read more about these types of ideas to navigate and successfully emerge post COVID-19 in my free eBook Future-Proofing Manufacturing & Supply Chain Post COVID-19. Please send your feedback and stories. I will them incorporate into a future article, video or interview.

Stay safe & healthy.



The Future of Technology

August 20th, 2020

Technology is a tricky topic. On one hand, almost everyone has put technology and ERP implementations on hold due to concerns about COVID-19 impacts and to conserve cash. On the other hand, it is the best time to gain employees’ attention and focus on upgrading technology to scale the business, create a superior customer experience and deliver bottom line results.

Kellogg or Post?
As I said in my eBook, Future-Proofing Manufacturing & Supply Chain Post COVID-19, the Kellogg vs. Post story from the Great Depression provides an excellent example to ponder. In the 1920’s, Kellogg and Post dominated the market for cereal which was still a relatively new and untapped market. Post reigned in expenses and Kellogg doubled its ad budget and pushed its new cereal. Even as the economy hit bottom, Kellogg’s profits rose 30% and they become the dominant player.  Do you want to be Kellogg or Post? The morale to the story is NOT about dollars invested. It is about the opportunities of investing resources (which can be simply in the form of employees’ focus) in future success.

Which Technologies Provide Immediate and Long-Term Value?
Of course, the answer depends on your industry, company, current infrastructure, your customers’ evolving needs, your suppliers’ evolving needs and more. Why not perform a rapid assessment of what makes the most sense for your business and take one important step forward? As I said in my eBook, Newton’s Law is relevant. Objects in motion stay in motion whereas objects at rest will stay at rest. You must take steps forward, no matter how small.

Let’s highlight a few of the more likely technologies to provide immediate value and long-term value:

  1. Further utilize & expand your ERP system: No one uses 80% of their system.  Most organizations utilize only 20%. Find the next 1% that will yield a significant benefit to your customers or bottom line. Clients are gaining significant value from this simple step.
  2. B2B customer portal/ B2C e-commerce: No doubt about it. The ONLY growth area across the board is e-commerce. In addition, what could be more important than visibility of orders for your B2B customers? Delays will result in lost opportunity!
  3. Business Intelligence (BI): We are overloaded with data. The issue isn’t having data, it is making meaningful decisions and formulating plans based on the interpretation of data. BI will bring meaning to your data that translates into customer and profit opportunities.
  4. Artificial intelligence (AI) & Human Learning: In today’s environment, predictive capabilities produce VASTLY greater results than simply analysis and static plans. Demand planning/ forecasting, predictive maintenance, cash flow forecasting, and the automation of tasks are enhanced with AI.
  5. CRM: There has never been a time when understanding, staying in touch with and being on top of evolving customer needs has been more important.
  6. Digital Twins: Virtual replicas of physical devices that technology gurus can use to run simulations before actual devices are built and deployed. Read a fascinating article about the applications in logistics.
  7. Systems to gain efficiencies: WMS (warehouse management), TMS (transportation management), rate shopping, MPS (master production scheduling)/ MRP (material requirements planning)/Inventory planning, replenishment including VMI (vendor managed inventory) and more.
  8. 3D Printing/ Additive manufacturing – If you can produce a customized product on demand close to customers, you win in today’s Amazonian environment. Either way, it speeds up R&D.

Read our eBook, Future-ProofingiManufacturing & Supply Chain Post COVID-19 to read more about technology as it relates to successfully emerging and thriving post-COVID-19. Explore these concepts further as you start thinking through your technology roadmap.

Did you like this article?  Continue reading on this topic:

The Rise of E-Commerce & WMS Popularity During the Pandemic

Systems Pragmatist



What’s Going on in the World of ERP & Business Intelligence?

July 16th, 2020

How Do ERP Systems Work?

I am excited to be featured in SelectHub’s extremely popular and recently updated article, “How Do ERP Systems Work?“. It provides a good foundation into the world of ERP and what you’d do with an ERP system. Although most clients have an ERP system of some type, by NO means do they understand how ERP systems work and the true value of an ERP system.

Perhaps we should spend more time understanding such a critical topic. After all, an ERP system upgrade will be one of the most significant projects your company will embark upon. Although the financial commitment is substantial, the resource commitment is far greater! On the other hand, if you bury your head in the sand too long, your risk will rise to unacceptable levels and your customers’ needs will not be supported.

Naturally, since the pandemic hit, many ERP projects have come to a grinding halt because the first thought is to conserve cash. However, in surveying ERP suppliers supporting clients ranging from small and medium size closely-held businesses to private equity backed companies and large complex organizations, although there has been a slowdown, there are several clients taking the opportunity to get in front of the technology curve so that they will be ready to grow rapidly and profitably as they emerge from the pandemic. They are slowing down some areas of the project while focusing efforts on the critical functionality or areas of the business that need a technology boost. For example, we are working with a client who took the opportunity to develop an IT roadmap so that they’ll be prepared to succeed post COVID-19. To think through your options further, listen to a SelectHub panel discussion on “How to Do ERP During COVID-19“. We are interested in your feedback and stories.

One area that is of common interest is business intelligence (BI) software. If clients can slice and dice data to understand customer and inventory patterns, utilize predictive analytics to better navigate COVID-19 demand changes and support future customer needs, and develop operational dashboards to manage performance and take cost out of the business, what’s not to like? In reviewing the spectrum of available options, there are a few impressive, relatively easy-to-implement tools. Clients are interested in what will deliver immediate value.

Read our eBook, Future-Proofing Manufacturing & Supply Chain Post COVID-19 to dig into these concepts further as well as to start thinking through your technology roadmap.

Did you like this article?  Continue reading on this topic:

Blockchain, IoT, Big Data. Will Anything Stick?

 



Immediate Strategy

May 7th, 2020

Do you want to be Amazon or Sears? Sears used to be the Amazon of its time, but they failed to change with the times. There is little life left in this former powerhouse of retail. On the other hand, Amazon continues to evolve and is clearly doing quite well in these trying times. In fact, our clients are experiencing growth across the board in only one category – e-commerce. Amazon continues to rule the day!

As I state in my eBook, Future-Proofing Manufacturing & Supply Chain Post COVID-19, if you want to be more like Amazon, you will rethink strategy but NOT like you might think. It should not be a lengthy process that looks across multiple years. Instead, create an ‘immediate strategy.’ What does that look like? Read about an immediate, 3 and 9-month strategy in the eBook:

  1. Immediate Strategy: Focus on establishing immediate priorities, assessing risks and understanding your customers, suppliers and other partners.
  2. 3-Month Strategy: Focus on how to keep moving forward and increasing value
  3. 9-Month Strategy: Focus on how to redesign to take advantage of the opportunities

As you think through the strategies outlined and determine your path forward, please keep us in the loop. We are interested in your journey, what works, and what pitfalls to avoid so that we can share insights and ideas. Don’t worry. We will protect the innocent; however, keep in mind one of the tenets of the eBook is to fail forward with innovation. Those who innovate will have a unique opportunity to sail past the competition as the world creates a new normal over the next year. If you’d like to discuss your strategy, please contact us.

Did you like this article?  Continue reading on this topic:

Coronavirus and the Economic Impacts
The Strategic Use of Data



Do You Have a Network?

January 17th, 2020

 

Do you have a network of people you can go to for answers, help, introductions, and more? My network is not only very important to my business but it is also very important for my personal life. Starting with business, I can definitely say that LMA Consulting’s success is 100% due to my network, meaning my colleagues (former employers, groups, etc.), clients, family and friends.  If you aren’t paying attention to people, you might as well hang up your hat!

With that said, you MUST be genuine. I’ve seen people who seem to be connecting strictly for business or to “sell” something. They never do well over the long term. On the other hand, if you are well-respected and genuine, people will go the extra mile for you (just as you will for them). One of my best decisions early on in my career is that I “kept track of good people”. It is probably the best decision I made in building my business and creating an enjoyable career.

I’ve always believed it is key to both professional and personal success, but lately it has certainly proven true! A family member had a stroke, and several people in my network helped find the best care, navigate medical processes, and much more. A close friend needed help in navigating an unpleasant work situation, and several folks provided assistance and resources. A colleague got my aunt connected with the best breast cancer doctors in Boston (and had to go to her ex-husband to do it!), a few colleagues connected me with resources to resolve house issues, several colleagues have provided resources, referrals and information for family and friends related to finance, taxes, internships, jobs and more. I totally appreciate my network. Thanks to you all for being there!

One Tip to Implement This Week:
Why not take stock of your network? Don’t worry so much about who you can go to for issues. Instead, think about what you can do to provide value to the people in your network. Show them that you appreciate them. Why not start there? It is far more interesting to provide value than it is to receive value – although I am very grateful you exist when the need arises.

When I first started with a group of trusted advisors (ProVisors), I wondered how I would ever be able to help some of the professionals that didn’t relate to my focus in manufacturing and distribution/logistics. Over time, I realized that there are countless ways to provide value to people. Simply introducing connections where you think they might be able to provide value to one another is a great start. Why not think about one person and find a way to provide value. Start today!