The U.S. GDP decreased 0.9% in the second quarter 2022 after falling 1.6% in the first quarter, according to the Bureau of Economic Analysis “advance estimate” released on July 28. While this is a volatile time for our economy, it is also a time of opportunity for small and medium sized manufacturing businesses.
How does your company emerge stronger versus your competitors in your market? Recession or not, key operations leaders of these businesses face a myriad of challenges.
- Low productivity
- Declining revenues
- Poor management of expenses
- Ineffective meetings
- Lack of teamwork
- Poor Management
- Low cash/no capital
- Failure to react to the competition
- Inefficient processes / outdated technology
- High turnover
I spent 30 years as an operations and operational excellence leader for Fortune 500 companies with international facilities driving productivity across our sites, working through these very issues utilizing structured problem solving and building continuous improvement cultures. During one such engagement at mining company, we saved over $165 million in operational costs over 10 years. You can learn more about that effort here.
Now my company, Lakehurst Consulting, brings those skill sets to bear helping manufacturing leaders solve their company’s nagging operational issues in a way that is scalable to the size of the company and the complexity of the problem. We call this approach “ONE-ON-ONE OPERATIONAL EXCELLENCE”.