Workshop - Growth Planning for Manufacturers
Look Before You Leap
Time Needed for Presentation:
(Interactive Workshop) 4 hours
Presentation Description: Growing a manufacturing company is not just about increasing sales. Growing is about changing strategies to improve sales and profitability. New strategies require investment and so planning should always begin with finding out where the company is making or losing money.
The following outline describes an assessment process that was designed specifically for small and midsize manufacturers (SMMs) who manufacture industrial products. It is based on the author’s real life experiences in manufacturing and a difficult 5-year turnaround situation that was implemented during the fires of combat to survive.
Prescription before diagnosis leads to Malpractice
As a patient, you would not want a doctor to prescribe an expensive surgery without doing a careful diagnosis. This same principle applies to manufacturing companies particularly the fragile companies that have been hurt by foreign competition and relentless price discounting.
Deciding on new growth strategies also requires good information on customers, competitors and markets. This workshop will show you how to diagnose your company before you prescribe growth strategies or invest money. The assessment can be tailored to the resources and size of the manufacturing company, and is accomplished in 6 steps.
Step 1: Financials – the relationship of sales, profits, and cash flow
Step 2: Evaluate costs, margins, and prices
Step 3: Analysis of lost orders and current customers
Step 4: Defining the competition
Step 5: Which markets are you in?
Step 6: Evaluate possible growth strategies?
* Workshops are interactive events where the manufacturer asks questions on specific problems in their company and the presenter offers solutions that the participant can take back to their plant. Maximum – 25 people and 4 hours.