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What is “time” worth to you ?

Manufacturing “Time” at Nicolet Plastics the successful implementation of Quick Response Manufacturing . What is “time” worth to you ?. If someone offered you a week of time…what would you do with it ? How could you benefit from it? How could you exploit “time” for your business?

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What is “time” worth to you ?

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  1. Manufacturing “Time” at Nicolet Plasticsthe successful implementation of Quick Response Manufacturing

  2. What is “time” worth to you ? • If someone offered you a week of time…what would you do with it ? • How could you benefit from it? • How could you exploit “time” for your business? • Time is money…the difference between Silver or Gold… • Speed and flexibility are at the heart of competitiveness • The benefits of time-based competition and make-to-order strategies have long been recognized both globally and domestically • .

  3. “Time” Really is Money…and Cost Can Cost you • At Nicolet Plastics, We Manufacture “Time”! • In 2009 Nicolet Plastics embraced and began implementation of Quick Response Manufacturing throughout our organization • The Goal was to exploit a competitive advantage in a marketplace that has been focused on long run production, piece part optimization • We set out to exploit and leverage our strategic variabilitythrough our commitment to being : Fast (Shorter Lead Times) Fluid (Customer Responsiveness) Flexible (Process Integration=Higher Productivity)

  4. Implementing Quick Response Manufacturing • Worked with Quick Response Manufacturing Institute and IQMS • Creating 70 Believers in 24 Months • The ABC’s of Quick Response Manufacturing…Why Time is Money and Cost can Cost you. • Recognition/Reward for Cross Training • Skills Matrix Development • Education and Making it Real • Book Review, Accountable Teams, QRM and Nicolet Format • Continuous Improvement Program • QRM Time Improvement Proposals • Time Based Metrics and QRM • Value Stream Accounting

  5. The Results of Manufacturing “Time” • Lead Time Reduction – Achieved a 7 day reduction. We will reduce 4 days in the next month to get to goal of 7 days. • Total Finished Goods Inventoryreduced from high of $500,000 in 2008 to average of $200,000 in 2012; while doubling total sales. • Increased of Finished Good Inventory Turns from 11 to 25 • Implementation of a Time Based Scrap Hours Scrap led to a 45% reduction in for 2012 from 2011 • Improved Working Capital Position (lower inventory) enabled debt pay-down • EBITDA for 2010 – 2012 will exceed the EBITDA for the preceding 10 years, COMBINED. • Return on Capital Employed (ROCE) in the 30%+ range • 2010 was the best year in Nicolet’s history from an income standpoint. 2012 will be the best year in company history, both in terms of revenue and earnings.

  6. Manufacturing “Time” with QRM How much “Time” could your organization manufacture ? What would that “Time” be worth to your business?

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