Monday, January 16, 2012

Manufacturers Need to Focus on Focus

This article is from Industry Week and follows a previous Thought Catalyst post on the importance of Measuring What Manufacturers Measure.

Both articles are about focusing on what is creating the most value for your customers, such as:
  • Which customers are most likely to provide the strongest, most sustainable profit stream?
  • Which market segments offer much more-or less-potential than others?
  • What products/services/features are the entry point for customers with the highest potential, and which offerings are ultimately dead ends?

The author mentions a company that was bending over backwards in added services to its largest client. In doing so, it was in fact making a loss on the contract and would be more profitable without them. He says manufacturers commonly make the mistake of investing time and resources in low return initiatives.

Therefore invest time in focusing on core strengths and the overarching $64 million question: what can you do better than your competitors?

Click here to read the full article.

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