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Manufacturing – President
Manufacturing
Manufacturing – President
Company Size & Timeframe
35 employees
2-3 days/week, 6 months
Results
Achieved breakeven in 2 months, profitability by 3rd month
Went from 3% loss to 3% profit in 5 months
90% reduction in returns
16% inventory reduction
Company Profile & Position
Family-owned
Interim President
Situation
Company losing money, one month away from closing
Father founded the company, currently run by daughter
Concerns regarding sales organization and sales leadership
Non-performing team
No plan, goals or metrics; lack of processes
High inventory
Implementation
Established strategic plan, goals, metrics with dashboards, daily quotas and accountability
Held daily meetings with follow-through
Prioritized quotes and engineering
Increased margins by charging for engineering, increasing prices and creating better metrics for purchasing
Corrected inventory
Reorganized with 20% force reduction, removed “C” players and elevated other employees
Created daily booking thermometer to allow for 13-week budgeting
Issued quotes/proposals to prospects
Assisted in identifying a full-time VP of Sales
Cerius Insights
“
We would not be in business today if we did not make the move to bring in an interim executive.”
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