Manufacturing Leadership Series Strategies For Business Growth
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Manufacturing Leadership Series Strategies For Business Growth

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On May 5, 2011, DVIRC hosted a networking event where Industry Leaders from around Philadelphia came together to learn how some of our clients have put market research, strategic planning, branding ...

On May 5, 2011, DVIRC hosted a networking event where Industry Leaders from around Philadelphia came together to learn how some of our clients have put market research, strategic planning, branding the web and a structured sales prospecting mechanism to work for them. The accompanying deck highlights what was done and some of the various results that have been attained.

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Manufacturing Leadership Series Strategies For Business Growth  Manufacturing Leadership Series Strategies For Business Growth Presentation Transcript

  • Manufacturing Leadership Series Strategies for Market Growth
    • Marc Rothstein
    • President
    Prime Synthesis
  • The four bases: Thymine Guanine Adenine Cytosine DNA Structure Double Helix DNA Oligonucleotide                                                                                                        
  • Controlled Pore Glass (CPG)
    • Established in the late 1980’s
    • Located in Aston, PA
    • Focused on the development and production of DNA synthesis materials for the biomedical research field
    • Recently completed construction of an additional 10,000 square-foot, Good Manufacturing Practice (GMP)-compliant production area
    Prime Synthesis
    • Situation
    • Core product, Controlled Porosity Glass (CPG) for the DNA synthesis market. Losing market share to foreign competition.
    • Developed an improved product to regain share.
    • Had potential for purification related bio-chemical applications – a new market for Prime Synthesis.
    Prime Synthesis
    • Situation
    • The new CPG product had the capability for higher loading – an advantage in the new target market space
    • Rothstein came to DVIRC for support in exploring the market potential for this new product and to develop a strategy moving forward.
    Prime Synthesis
  • Prime Synthesis
    • Solution
    • DVIRC Recognized that Prime Synthesis qualified for funding from the MidAtlantic Trade Adjustment Assistance Center (MATAAC)
    • Prime determined to use this for new product development that will allow them to be more competitive in the world market
  • Prime Synthesis
    • Solution
    • DVIRC connected Prime Synthesis with Research Triangle Institute (RTI), who then took on the task of implementing Technology Driven Market Intelligence (TDMI) effort for the company
    • Solution
    • RTI gathered existing market data and reviewed published academic and scientific literature related to the Prime Synthesis technology and potential applications
    • Identified key players in the market and arranged interviews with them
    Prime Synthesis
    • Solution
    • Research confirmed that manufacturers needed to reduce the cost of the drugs while enhancing manufacturing efficiency and productivity
    • RTI discovered that Prime Synthesis’ technology addressed the rate-limiting (bottleneck) step in the production process
    • The target market offers Prime Synthesis the potential for $100 million in annual sales.
    Prime Synthesis
    • Results
    • With the guidance of DVIRC and the research provided by RTI, Prime Synthesis is ready to begin searching for potential business partners and developing a strategy for entering the new bio-chemical processing market
    • We now have the ammunition to go to major players and show that we have the answer to their production efficiency issues
    Prime Synthesis
    • Results
    • Avoided the costs of forming a limited potential partnership with a Korean company
    • DVIRC directed Prime Synthesis to the MATAAC funding resources. With DVIRC’s assistance, Prime Synthesis qualified for up to $150,000 in cost share funding, and used the money to pay for work related to their new technology, including patent protection, the RTI research, and the development of a website.
    Prime Synthesis
    • Lessons Learned
    • Time and effort seeking outside help is well spent
    • Offering a “me too” lower cost product is not an option in some markets
    • “ Wishful Thinking” Strategic Plans can be avoided with credible market research performed by third party experts
    • Understanding barriers to entry is critical step in new business development
    •  
    Prime Synthesis
    • Next Steps
    • Getting ready to present to possible investment partners
    • Preparing to produce additional laboratory data related to product performance
    Prime Synthesis
    • Marc Rothstein
    • President
    • Thank You!
    Prime Synthesis
  • Manufacturing Leadership Series Strategies for Market Growth Bud Tyler Vice President
    • Established in 1977 as a CNC machine shop fabricating close tolerance, complex parts
    • Headquartered in Willow Grove, PA
    • Employ 85 people
    • 65,000 sq. ft facility equipped with 50 CNC machines and other advanced technologies
    The E F Precision Group
    • Today, we are two specialized, autonomous, yet interacting companies
    • Full service solutions provider:
      • High-tech custom mechanical
      • Electro-mechanical components
      • Full assembly operations
      • Engineering services
    The E F Precision Group
    • Serve clients in defense, aerospace & medical product markets, including,
      • Johnson & Johnson
      • Lockheed Martin
      • Northrop Grumman
    The E F Precision Group
    • Certified to ISO 9001:2008 / AS9100:2004 Rev B
    • ITAR and UL508a registered
    • Registered FDA Critical Device / Contract Manufacturer
    The E F Precision Group
    • 1977 – 1997 – Machine shop / assembler
    • Mid 1990’s global competition emerged
    • Reinvention of company essential to survive
    The E F Precision Group Situation
    • 1997 – 2007 revitalized the business
    • Expanded capabilities, and invested in advanced technologies
    • Added engineering department
    • Retrained workforce
    • Achieved accreditations to cultivate customers in defense, aerospace, medical markets
    The E F Precision Group Situation
    • A pproach to Sales and Marketing did not change
    • Not a sales driven company
    • Focus on business resulted in having blinders on
      • How EF was perceived in the market
      • Approach to generating new business
    The E F Precision Group Situation
    • Despite expanded capabilities, investments, still pigeon-holed as a “machine shop”
    • Marketing even more challenging selling advanced machining engineering and assembly capabilities for highly complex, critical components
    • Building market awareness of new value proposition became a priority
    The E F Precision Group Situation
    • Turned to DVIRC
      • Raise company profile in target markets
      • Identify potential new business
      • Facilitate business networking opportunities
    The E F Precision Group Situation
    • DVIRC marketing team repositioned the EF Precision brand to align with the new realities of the business
    • Introduced structured rebranding process
      • Developed a strategic marketing roadmap
      • Implemented a number of tactics, including…
    The E F Precision Group Solution
    • Revised Value Proposition
      • Articulated the strengths and key benefits of the new brand
      • “ Attitude is Everything”
    The E F Precision Group Solution
    • P erformed Market Research
      • Benchmarked key clients to identify new opportunities
      • Created prospect database of key decision makers
    The E F Precision Group Solution
    • Redesigned brand Identification
      • Facilitated the redesign of the companies identity and communications materials
    The E F Precision Group Solution
    • Designed new web site
    • Conveyed capabilities through 3d animation and video
    • Public relations campaign announcing launch
    The E F Precision Group Solution
    • www.efgroup.com
    The E F Precision Group Solution
    • Direct marketing campaign
    The E F Precision Group Solution
    • Manufacturer of the Year Nomination
    The E F Precision Group Solution
    • Initiated Public Relations
        • Springboard beginning with award
    The E F Precision Group Solution
    • Initiated Public Relations
      • Industry Week
      • Bloomberg
      • Philadelphia Business Journal
      • The NE Manufacturing News
      • Design 2 Part Magazine
      • The Intelligencer
    The E F Precision Group Solution
    • Facilitated Network Opportunities
      • DVIRC industry connections
      • Member of DVIRC CEO Council
      • 15 non-competing members serve as advisory group
    The E F Precision Group Solution
    • Named 2010 Manufacturer of the Year
      • Springboard for building market awareness
    • New web site and brand image launched
      • Reflects value proposition and capabilities of The E F Precision Group for new prospects
    The E F Precision Group Results
    • Public Relations
      • coverage amounted to $107,000 value
    • Networking
    • CEO Forum
    • Lead Generation
      • resulted in a dozen potential new clients
    The E F Precision Group Results
    • When talking about Public Relations understand that ROI isn’t always measureable, it is the awareness gained and how you handle the network that it creates
    • Use all of your tools in the tool box – Articles, Campaigns, Web Site, etc – utilize them for generating business, improved network, and new opportunities
    The E F Precision Group Lessons Learned
    • 3. Never be afraid to try something new or uncomfortable, be creative when you’re in a different environment – think outside the box
    • 4. Don’t box yourself into one way thinking – i.e., with Lead Generation – don’t just look for leads, look for how the people you are talking to can help you find other Leads – not just doing business with them
    The E F Precision Group Lessons Learned
    • Continue investing in marketing to support business development
    • Get mechanisms in place for sustained efforts
    • Continue building awareness of The EF Precision Group
    • Share knowledge…
      • manufacturing is an excellent career
      • personal outreach to high schools / colleges to get message out to young people
    The E F Precision Group Next Steps
  • Thank You! Bud Tyler Manufacturing Leadership Series Strategies for Market Growth
  • Welcome to Westinghouse Lighting Ray Angelo President & CEO
  • Worldwide Recognition Few brands have the power of Westinghouse. With 81% consumer recognition* in the U.S. and a growing worldwide presence, Westinghouse offers the opportunity to increase sales through a familiar, global brand already tested and trusted by consumers. *June 2010, Caravan Study.
  • Who is Westinghouse Lighting?
    • Westinghouse Lighting:
    • Is a privately owned family business, started by Stan and Tim Angelo in 1946.
  • Who is Westinghouse Lighting?
    • Today Westinghouse Lighting:
    • Annual sales $100 million +
    • Employ 250 people
    • Is a full-line lighting supplier of light bulbs, ceiling fans and decorative and spec grade fixtures.
    • Is a global marketing and distribution company.
    • Cultivates an environment of free enterprise for inventions and ideas.
    • Global Brand Presence
      • Westinghouse Lighting develops and/or markets products in 100 countries on 5 continents
        • World Headquarters – Philadelphia, Pa.
        • Sales/Distribution Office – Montreal, Canada
        • Sales/Distribution Office – Dusseldorf, Germany
        • Mexico Company – Mexico City, Mexico
        • Joint Venture – Colon, Panama
        • Planned – SE Asia
        • Planned – Australia
    • U.S. Distribution Centers
      • Philadelphia, Pa.
      • Chino, Ca.
      • Jacksonville, Fl.
      • Global Supply Chain
    • China Offices in Hong Kong & Changan
      • Sourcing & inspection efforts
  • Three Product Categories Lamps Luminaires Ceiling Fans
  • Core Business
  • Competitive Landscape
  • Litex Design House Hampton Bay Harbor Breeze SLI MaxLight TCP Feit PQL Halco Satco
  • Situation
    • Through 1970s and 1980s enjoyed continual success during DIY growth trend
    • Sold through major home centers and hardware retailers
    • Products fit the market, prices competitive, demand was high, gaining market share
  • Situation
    • By mid 1990’s independent retailers replaced by Home Depot, Lowes and other national chains
    • Global import competition grew
    • Sales declined
    • The company “muddled through” the next 15 years
  • Situation
    • Changes implemented by 2009
    • The company was like a “glass half empty, half full stage”
    • The business stabilized, global business doing well
      • Strengthened management team
      • Restructured sales and marketing culture
  • Solution
    • Sought DVIRC for assistance
    • Guided Westinghouse management team through disciplined process
      • Envisioned the future
      • Assessed current state of business
      • Conducted SWOT analysis
      • Created plan, set goals and developed action plans
  • Solution
    • Identified core competencies and competitive advantages…
    • and
    • Areas for improvement to achieve strategic objectives
      • Gaps identified
      • Action plans put in place
  • Solution
    • During this process, short term business issues identified
    • DVIRC provided framework for some “tough questions about the true state of the business”
    • Realistic and achievable plan to deal with challenges emerged
  • Solution
    • Performance Management Plan
      • Improve employee performance
      • Align performance with company goals
    • IT Conversion
      • Replace old system
      • All departments brought in process
  • Solution
    • Financial Budgeting Process Created
    • Marketing Content Development
      • 2000 products – centralized database created
  • Results
    • Enhanced the company’s ability to develop action plans, track and monitor
    • Implement and self-correct when necessary
    • Ability to follow through on major initiatives
  • Results
    • Communications throughout organization improved significantly
    • Performance Management resulted in consistent and organized process reviewing employees and alignment with company goals
    • Employees eager and enthusiastic about their role and contribution
  • Results
    • May 2011 old VAX system will be converted to a Microsoft system
    • Employee ownership and commitment seeing this project through
  • Results
    • May 2011 a new website will be launched to provide customers with all products, specifications and photos in downloadable formats
    • Countless hours have been saved, customers can now obtain information directly in minutes
  • Lessons Learned
    • Strategic Planning must be valued by the Owner/President and Senior Management Team
    • Strategic Planning is essential for Westinghouse Lighting with the assistance of a competent facilitator
    • Needs to be a “living, breathing plan” not a binder that sits on a shelf
  • Lessons Learned
    • 4. Action Plan Initiatives assigned to project owners with timelines and monthly reviews
    • 5. Plan Implement
    • Plan Implement
  • Lessons Learned
    • 6. Most effective Strategic Plan group size 4 – 8
    • 7. Create an open, collaborative atmosphere
    • 8. Move towards truly key initiatives, 2 – 4 is ideal
    • “ Separate the vital few from the needed many”
  • Lessons Learned
    • Communicate Plan to entire company – performance management “all performance starts with clear goals”
    • Rolling three years
  • Next Steps
    • Westinghouse Lighting in a stronger position to implement additional strategic initiatives
    • Continue developing action plans around:
      • Positive cash flow
      • Sustainable fixed costs
      • Creation of global marketing / licensing enterprise
    • Efforts already begun focusing on New Product Development
  • Manufacturing Leadership Series Strategies for Market Growth Thank you!
  • Manufacturing Leadership Series Strategies for Market Growth