Our client is a second generation business within the medical equipment industry located in the Midwest. We were hired to help guide the CEO with instilling financial disciplines to drive predictable profitability, realign the sales organization and reimagine the operational structure. The business was exhausting its line of credit at an unsustainable level, they stopped owner distributions, sales were stagnant and profitability had diminished. We deployed our financial roadmap routines, elevated an internal team member to the new VP of sales and developed new organizational routines within the Operation and beyond for compounding efficiency gains. We also brought in Six Sigma disciplines to establish their annual strategic planning process to drive clarity and accountability.
Results:
- Improved profitability to the highest ever in their 32 year history
- Removed the LOC as a backstop to operate the business
- Instilled an annual Strategic Planning Program tied to long-term success
- Realigned the organization structure and hired a first ever Director of Operations
- Realigned the sales organization to operate more efficiently resulting in top-line sales improving by 20%
- Deployed a new ERP leading to improved visibility, efficiencies and controls
