Manufacturing and Strategic Planning
A seasonal products company that had been in business for over 25 years needed to expand its product line, manufacturing base and its distribution.
The Company had lost several key employees over a period of four years, resulting in the Company losing its continuity and focus. Declining revenue and margin continued despite management's best efforts. The Company was at a critical point and its ability to move forward as a viable business was in doubt.
Keystone Gate Involvement:
The Owner contacted Keystone Gate through a referral. After meeting with the Owner it was agreed that an overall review of the Company was quickly needed. Keystone prepared an initial report and reviewed with the Owner. Critical problem areas were identified in sales & marketing, operations, management and finance. Over the course of three months a strategic action plan was implemented.
Keystone Gate Solution
Keystone Gate recommended that the Company begin the process to reinvent itself to establish a new corporate identity with its distributors and customers. A strategic plan was put in place that address the Company's short term and midterm needs. The product line was updated and Keystone Gate worked to establish new overseas contracted manufacturing to cut costs and increase margin for the coming year. Sales focused on existing buyers and expanding a new customer base. New sales materials were created and the Company's web site was redesigned and promoted. Operations were streamlined around management, sales and manufacturing. Strict budgets were put in place to maximize limited resources.
The Company was successful in reestablishing itself on an efficiency and revenue generation basis. Keystone Gate remained active for two years within the Company, overseeing most aspects of its operation. In year two the Company returned to profitability and was sold to a competitor.