The words ‘world-class’ are so over-used in the business world that they’re now treated with a high degree of scepticism. Many use this phrase without any real thought, hoping it will leave the reader with a warm and fuzzy feeling of reassurance.
For other companies, there’s real substance behind it, backed by a genuine ability to compete with the best in the world.
At Mirage we make no apologies for describing our portable machine tools as ‘world-class’. We’re proud that our products are regarded as some of the world’s best - and it’s not happened by accident.
So what does it take to be a truly world class business?
Being world class not just about global coverage - it’s about a company’s culture and the aspirations of its employees. Our advice is to look at key areas of the business and determine what it takes to be the best. Remember it’s a never ending process and most important of all - keep focussed on the customer.
Below is a summary of what we do at Mirage. (It’s probably worth noting that most of the products we make are high value, low volume and some are bespoke. So if you work for a high volume mass producer you may be working to very different ideas and metrics.
Much has been written on the subject and there’s no shortage of quality gurus out there, but here’s some simple objectives;
- Zero “out-of-box” failures.
- Competitive advantage based on innovation and quality.
- Waste-free process and systems.
- Well-defined, understood and applied quality metrics.
- Market leading high quality product portfolio.
To satisfy the customer’s “when can I have it?” question, try setting goals like these;
- On time delivery to client promise, minimum 95%.
- On time delivery into stock. Minimum 95%.
Achieving World Class status will be impossible without the right people;
- Have a business competency and capability plan.
- Have an engaged, competent and proactive workforce.
- Make sure business strategies are aligned and well-communicated.
- Adopt World Class 5’s and visual management.
- Introduce a defined continuous people improvement process.
Not short term cost cutting, but adopting a wider far-reaching approach;
- Strategic sourcing.
- Efficiency through standardisation.
- Maximisation of facilities and assets.
- Best practice planning and forecasting.
An area of critical importance, especially when working in industrial sectors;
- Introduce a Goal Zero, Safety Culture.
- Strive for Zero TCIR (Total Case Incident Rate).
Sustaining the above initiatives, paying salaries, new technology and keeping investors happy needs revenue.
- Continued growth in both sales revenue and profitability.
- Effective working capital management – receivables, payable and stock.
Describing the above as bullet points is only the start. Following it through requires commitment from a team of people working hard to a clearly defined and measurable process. Only when employees fully understand how what they do impacts customers will the company be on its way to being a true world class performer.
Find out more about our products: Get in touch with your regional contact here, or download one of our buyer's guides.