three real world examples asset/business management success

Three Real World Examples Asset/Business Management Success

Free Content Provided by T and T LLC

Engagement #1The 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.


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)


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.


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.

Engagement #2The 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.


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.


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.


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.


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.

Engagement #3The 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.


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.


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.

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 protected]

Phone - (586) 484-2908

three real world examples asset/business management success

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