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Three real world examples asset/business management success
1. Three Real World Examples
Asset/Business
Management Success
Free Content Provided by T and T LLC
2. Engagement #1
The mission was to assist a manufacturing company in a new business venture
Step #1 – Analysis
The client was a long established secondary
manufacturer. They had succeeded in gaining
new business that was outside their normal ability
to perform. I was brought in to help them set
themselves up for success. I met with the owners
and gathered all the data I needed to build a plan.
3. Engagement #1
The mission was to assist a manufacturing company in a new business venture
Step#2 – The plan
I created a plan that would have me create,
populate, and temporarily lead a Program
Management Group that would lead the way for
the new business. I also brought in a temporary
CFO who would help oversee the flow of money
for the new business and aid in the maturation of
the overall financial and purchasing processes. (I
needed someone I could trust to watch the
money)
4. Engagement #1
The mission was to assist a manufacturing company in a new business venture
Step#3 - What was done
Over a six month period all aspects for the
new business were put in order and I
executed an exit strategy. I had manned
and trained a four person Program
Management staff that was leading the
corporation forward in their new adventure.
5. Engagement #1
The mission was to assist a manufacturing company in a new business venture
Summary- This new project represented 25M
in new capitol and 120M in sales. It was
successfully launched and all quality and
financial goals were met.
6. Engagement #2
The mission was to investigate margin and staffing problems in a medium sized
company
Step #1 – Analysis
I was brought in because the target company
was unable to meet margin on some
products, Plant Managers were being
replaced at an alarming rate, and their lender
just felt something was wrong.
I met with the Managers and their mid-level
folks to start my investigation and analysis.
I requested data from all over the company.
7. Engagement #2
The mission was to investigate margin and staffing problems in a medium sized
company
Step #2 – The Plan
Through my analysis I was able to pinpoint a
software root cause and identify an unexplored
opportunity to increase margin.
The software issue was found in the estimating
software. The EBITDA was off by 30%. This
explains why they were having such a hard time
meeting margin and were firing Plant Mangers.
The unexplored opportunity to increase margin
was found in optimizing the use raw materials. In
just a couple days I was able to find opportunity for
1M in first year savings with very little cash outlay.
8. Engagement #2
The mission was to investigate margin and staffing problems in a medium sized
company
Step #3 – What was done
This company chose to purchase an estimating
software to manage their business. Further I
established a hand check process where one in ten
estimates would be validated with hand calculations
to make sure the software was accurate. (Also to
validate their estimators knew how to hand calculate
estimates)
The company chose not to pursue the Material
Utilization opportunities. I found out later that the VP
presented the ideas as his own six months after my
exit.
9. Engagement #2
The mission was to investigate margin and staffing problems in a medium sized
company
Summary-
This was a success in my book. The VP of
the company did complain that he was NOT
winning business at the rate he was before
we fixed his estimating problem.
10. Engagement #2
The mission was to investigate margin and staffing problems in a medium sized
company
Side Note
The VP was being measured by his
management on the amount of awarded
business and he was receiving accolades for
being “tough” on the Plant Managers. In
truth he was being awarded losing business
that was killing the company and was
creating distraction by firing folks. These
people need to be dismissed publicly and
prosecuted if at all possible.
11. Engagement #3
The mission was to investigate lack of success by a small Cost Center within a
larger corporation
Step #1- Analysis
Day one I met the manager and staff. It took
three hours to fully realize what was going on and
what needed to change. I presented the findings to
the Owner and the Lender via conference call on
day one of the investigation.
12. Engagement #3
The mission was to investigate lack of success by a small Cost Center within a
larger corporation
Step#2 – The Plan
Their were two huge problems.
The first problem was in their staffing. They had a
gruff tooling guy acting as their salesman and one
of the slickest sales guy I ever met working on
tooling. Easy fix.
The second Issue was with the Manager. He was
abusive. I acutely saw him slap a man for ordering
too many boxes. The man ordered $25 dollars
worth of extra boxes and could have cost the
company thousands of dollars in a law suit. I
recommended the Manager be fired.
13. Engagement #3
The mission was to investigate lack of success by a small Cost Center within a
larger corporation
Step#3 /Summary -
The company did switch the sales and tooling guys
with great success. Business increased by 20%
almost instantly.
The manager was not reprimanded to my
knowledge.
14. As the owner of the company that provides this free content, I would like
to invite you to contact me to explore working relationships. I enjoy this
bsuiness and look forward to speaking with you.
In addition, I have several DIY Process Improvement presentations that
can be found on the TomTurner.BIZ website. These slides should
empower you to success.
Thank You:
Tom Turner - Owner T and T LLC.
Website- TomTurner.BIZ
Email-TomTurner@TomTurner.biz
Phone - (586) 484-2908