Fero Strategic Development
“To be the first choice in connectivity in the Australasian Manufacturing Industry”
To communicate strategy is never an easy task, especially for a business as complex as ours. To start with an overall goal is never a bad way to go.
TO HAVE A 5 DAY PRODUCTION LEADTIME IN 18 MONTHS, WHILE PROVIDING AN UTTERLY RELIABLE SERVICE TO OUR CUSTOMERS.
The reason that this is such a great way to outline our strategy is that there is so much that cascades down from it. For instance in order to achieve this we must have;
- Data accuracy. Our stock and BOMs must be 99% accurate.
- Complete reliability. For our customers to be working to such short lead times our DIFOTIS must be at 100%
- Deep and lasting relationships. We need to be working in a partnership type relationship with our customers
- World class facilities
- A highly engaged workforce
- Focus on lean business practices
- Robust forecasting processes
We have spent the last few months investing considerable time and resource into developing a detailed strategic plan that will continue to set us apart from the competition. It takes a lot of focus to implement significant strategic change while still continuing with business as usual, however our desire to be a company of continuous improvement is becoming engrained in our culture and we feel we are on the right track.
Last month we kicked off our Lean Journey. Our whole team has now undergone a detailed and intensive training course and are excited to get going with a number of initiatives. We have a number of customers that are already a long way down the road with their lean journeys and we have been able to learn a lot from them and see some real benefits in reducing waste in our business and increasing value to our customers.
In the next couple of months we will be commissioning machinery that will see up to 50% increases in our capacity and ability to deliver high quality, cost effective solutions to the local manufacturing market, with very quick turn around times.
Significant input from the recent customer survey that we ran has gone into our strategic development. We understand that manufacturing is not an easy business and that there are some common issues that we need to help solve.
- We will be working to make our engineering team much more accessible to our customers, so that we can use our knowledge and experience to help solve your problems.
- With the best of intentions there are always those urgent requirements, we want to be able to supply to our customers to ensure that manufacturing time is not lost on waiting for sub assemblies
- Reliability is paramount and the ability of suppliers to Deliver In Full, On Time, In Spec can be the difference between success and failure.
- Local manufacture is very important these days and we must be able to produce world class products in New Zealand that allow us to keep competing, and dominating, on the world stage. On the other side of the coin we must also have the ability to source from global markets to ensure that we are delivering what we need to ensure success.
It is going to be a great year for Fero, and one that sets us up to really provide the best service to the manufacturing industry. We know where we need to go and how to get there, and I look forward to keeping you updated.