$100 Million Delivered in Profit by Transforming Electrical Device Manufacture
A household goods company had discovered potential cost savings of millions of dollars in the manufacture of electrical devices across the business. However, they had not been successful in creating a plan for implementing cost saving measures across the electrical devices businesses.
They hired Insigniam’s enterprise transformation consultants to help formulate a plan through their Breakthrough Project methodology. The consultants worked with the electrical devices team to enhance performance through leadership education. Next the team was charged with the opportunity to commit to a breakthrough goal and project.
They promised that within seven months they would deploy a comprehensive and integrated electrical device systems strategy and implementation plan to revolutionize supply chain responsiveness, drive flexibility, and significantly accelerate time to market of new products and restages. They accomplished this promise achieving an estimated $100 million in future profit in the next two years. Originally the opportunity had been identified as $50-100 million in cost reduction within five years. They dramatically exceeded expectations.
