4 Manufacturing Business Tactics We Use to Create Stability and Resilience
11th Nov 2020
In our 32 years, we at J.B. Poindexter & Co. have learned a few tricks of the trade that have allowed us to succeed in challenging economic times and maintain efficiency (and profitability) in our business operations despite unforeseen obstacles.
Here are the tactics we utilize and the pillars we hold to. They have gotten us to where we are today and will continue to carry us into the future.
We use a process called lean manufacturing, which is a tactic to reduce waste and standardize production wherever possible. Lean manufacturing requires a preemptive approach to business. We are constantly looking at our workflows with a sharp eye to identify where we can increase efficiencies.
Specifically, our lean manufacturing goals include:
- Improving quality: Thanks to ever-evolving technological advancements, we are consistently discovering and implementing ways to make our companies – and the products they create – better.
- Reducing time: We utilize time management strategies and refine them through a consistent process of evaluation. Reducing time to save money is a careful balancing act that requires consideration to improve our business without sacrificing quality in any way.
- Empowering our team: We believe in creating a close-knit company culture so our people feel confident about speaking up when potential risks are identified.
- Ensuring safety: Above all else, we want to provide a safe work environment. Safety is at the foundation of our entire lean strategy.
Because we focus on lean manufacturing, a need for constant innovation is in our company’s DNA. We consider our ability to adapt to changes as one of our greatest strengths.
As an owner-operated business, we are able to make prompt, decisive decisions independent of those influences that could be detrimental to business goals. We are nimble in our execution and able to make financial decisions that position us for a successful future.
Here are some highlights of recent innovations and adaptations within the J.B. Poindexter portfolio of companies:
- Morgan Olsen debuts all-electric mini bus – This quiet, first class shuttle provides passengers with a sustainable, comfortable option to travel. Complete with wheelchair- and bike-friendly options, the Morgan Olsen all-electric mini bus charges in just 6 hours at night or 45 minutes with quick charging during the day.
- Reading offers their Master Mechanic™ Series Service Bodies – For the heavy-duty performance you need to tackle the most difficult and demanding jobs, the Master Mechanic service bodies offer standard, infinitely adjustable shelving, flush mount doors, integrated tie-down in the bed, and slam-action tailgates. Additionally, these service bodies include the Redi-Safe non-skid application to keep workers and materials safe on the job.
- Masterack provides customer-focused storage solutions with in-house engineering capabilities – With innovative, tailor-made van equipment and accessories, Masterack decreases costs and increases efficiencies. No other company can provide as many fleet options as Masterack.
Additionally, COVID-19 has required our company to adapt in new and unpredictable ways. We responded quickly and put systems in place to keep our employees and our clients safe. Learn more in the video below.
We know the road ahead is bright and we are committed to making the vehicles that travel on those roads safer, more sustainable, and more comfortable than ever before. This takes a discerning eye, which we have honed with decades of experience. While our company may change and evolve, our quality and reliability never waver because we have laid a solid foundation for success.
Our ability to think ahead and think strategically makes us expert problem solvers. When we can anticipate the marketplace, we can create strategies that continually set us up for success.
As a corporation, our ability to think long term is most critical when evaluating potential acquisitions to join our company portfolio. Desirable characteristics we look for include:
- Significant market share
- Good brand identification
- Favorable product positioning
- Long product life cycles
- Moderate revenue volatility
Additionally, once acquired by the company, we look to support the business in whatever ways we can, like establishing new platforms, expanding into additional regions, and improving core competencies.
Be a team player
Since our founding in 1983, we have successfully completed 40+ business acquisitions and have a portfolio of eight operating subsidiaries. And, while our companies maintain their independence, their interconnectivity provides opportunities to increase our presence in the marketplace as a whole. By leveraging our combined strength, we can create unparalleled innovation, deploy strategic development techniques, source globally, and optimize our lean manufacturing processes.
We extend this thinking to each of our team members, recognizing that each person plays a vital role in our ability to continuously move forward.
We encourage our employees to challenge the status quo, be problem solvers, and think long term. Our success is derived from fostering a dynamic and entrepreneurial working environment, which values and rewards excellence.
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