What does it take to be a top manufacturing company?
With almost 50 years in the business and recent recognition as a “Made in the USA” success story by Construction in Focus, Universal Polymer & Rubber has learned the steps it takes to become a market leader.
Through the years, we’ve remained true to our roots, building upon our original foundation to branch out into additional markets to serve our customers in transportation, cargo control, construction, pipe manufacturing, automotive OE supply chain, and general industrial markets.
Set Yourself Apart By Staying True To Your Values
Companies that set themselves apart from the competition do so through continuous hard work, a strong desire to learn, and an understanding of industry dynamics.
Manufacturing is competitive businesses and companies must be able to address and adapt to issues like the growing skills gap, the dwindling interest in core manufacturing as a career choice, or imposed tariffs on a moments notice. Fluidity from top executives down to starter employees is a necessity.
Embrace Innovation & Excel Where You Can
The next key to success is understanding competitive pressures and embracing innovation. As an example, at UPR, we implemented a mobile unit as a way to better serve customers. Using a specially-equipped trailer, we can provide hydrostatic testing and custom product modifications for customers on location. We take pride not just in our ability to offer quality products, but also in our excellent customer service.
Stay Competitive By Branching Out
Sharing our experiences can help other companies refine their business models to be more competitive and successful. Facing diversity with versatility means that you don’t have to rely on one market for success, leading to less of a struggle when the markets fluctuate.
Simply stated: take on other proponents that complement the “bread and butter” of your company.
Make Strategic Acquisitions, Then Stick to Your Strategy
We attribute part of our enduring success to our strategic acquisitions. With a total of five acquisitions, Universal Polymer & Rubber has always strived to become one of the largest non-mixing polymer fabricators in the United States. Through these acquisitions, we are able to offer a variety of polymer solutions including rubber extrusions, plastic extrusions, rubber molding, tarp straps, and gaskets.
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For almost half a century Universal Polymer and Rubber has been a market leader in the domain of rubber and plastic extrusions and custom created products. During that time the business has placed a great emphasis on client satisfaction and in 2017, when most production units in Ohio are struggling to stay afloat, we have not only managed to expand our operations but have also been recognized as a “Made in USA” success story by the renowned publication Construction in Focus.
5 Golden Rules from Those Who Have Braved It All:
Manufacturing may be the lifeblood of the nation, but that doesn’t render businesses in the industry immune to the cycles of supply and demand.
There are challenges to be circumvented. And brands that can’t establish themselves as purveyors of quality items falter and fail.
Companies that set themselves apart from the competition do so on the dint of hard work, a desire to learn and evolve an insightful understanding of industry dynamics.
Here are 5 hard won lessons from the veterans at Universal Polymer & Rubber Ltd. to help you ace running a manufacturing company:
1. Be Practical and Rooted in Facts: It is easy to get carried away by the avalanche of rumors and fallacies saturating the industry grapevine. Hyperventilating over a future scenario that may or may not transpire isn’t the best use of time or resources. Projections, estimates and market predictions are handy tools to have, but only when they resonate with the take and understanding of your company and client base. Instead of chasing “what ifs,” manufacturing businesses must address known issues like the growing skill gap in the industry and the dwindling interest in core manufacturing as a career choice for graduates with well thought out, strategic actions like participation in and promotion of Manufacturing Day.
2. Be Discerning when it Comes to Staffing: Talent shouldn’t be hoarded – even in manufacturing where there is a real absence of qualified candidates. Benched employees lose their finesses and also suffer from disengagement. They negatively impact the morale of the rest of the workforce. However, rapid expansion is a possibility given the trend of reshoring over the years. A fine balance between staffing and the business level is required. It is the worth the investment to create a pipeline of “just in time” recruitment possibilities to ensure the best utilization of labor.
3. Understand that Acquisitions Take Time to Produce Results: Acquiring assets is a great way to rapidly increase sales. How?
A. The acquired assets transfer their goodwill and clients to the parent company.
B. The acquired assets may possess complementary skills that help companies penetrate a whole new market full of possibilities.
Universal Polymer & Rubber has made multiple acquisitions and learnt from each undertaking. The most important take-away is the fact that all good things need time to mature. Acquisitions are no different. They have to be assimilated and worked on before they can positively influence bottom-line numbers.
4. Pay Attention to Details: Manufacturing is a highly competitive industry. Maintaining a legacy of quality is essential. To this effect companies must constantly improve following the principles of Kaizen. Certifications like ISO 9001:2008 and ISO 16949 offer benchmarks of excellence and provide guidelines that reduce waste, bring down defects and boost customer satisfaction.
5. Balance Long Term & Short-Term Goals: While it is great to have a 50,000-foot view of the business operations, it’s the day-to-day activities and meticulousness in executing them which keep a company strong and profitable. A game changing business not only stays abreast of latest technological breakthroughs, it incorporates the insights in everyday activities for tangible results.
