Manufacturing
Manufacturing – President
Results
Company Size & Timeframe
- 35 employees
- 2-3 days/week, 6 months
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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
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Company Profile & Position
- Family-owned
- Interim President
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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
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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.”