How significant is freight to your bottom line? For example, when I was a VP of Operations for an absorbent healthcare products manufacturer (adult diapers, hospital underpads), freight was a BIG concern.
Are you following your passion / enjoy what you do? Or, can you incorporate some elements of your passion into what you do? I have no doubt you can!
Where would you prefer to locate your operation? Most likely as close to customers and your supply base as possible. In this case, it means rates are going through the roof - if you can even get them.
Last week, I attended the inaugural Inland Empire Women in Manufacturing event. It was fun seeing old colleagues from throughout the years as well as meeting new ones.
Keep innovation and future disruptors top of mind.
Last week, I attended a ProVisors event (top notch group of trusted advisors including attorneys, CPAs etc.) at Harvey Mudd. We were focused on manufacturing and innovation, and we were lucky to tour the day after Harvey Mudd's clinic projects day where the students discuss the successes of working with companies like GKN, Bobcat, Amazon, Google and more.
Don't we tend to take our long-term, valuable relationships for granted? Admit it! Of course, it is easy to do so.
Although we should consider potential impacts of 3D printing in our industry, the more important consideration is to let our minds think about the future. What technological innovations are likely to impact your industry?
Have you thought about how to expand your thinking? A first good step would be to take a step back and think about ways to expand your thinking. It is quite easy to get stuck inside your current reality.
Have you put thought into what has become commonplace - subscription services like Prime?
