Global pump manufacturing specialists, SUNTEC, has undergone a radical transformation from a business on the brink of collapse, to a thriving world-class organisation after the implementation of Oliver Wight’s transformative Integrated Business Planning (IBP) programme.
SUNTEC have been awarded Class A certification in IBP, following an impressive turnaround, with profit margins increasing by nearly 15%, and an end-of-year turnover of over €25 million for 2018. At the same time, it has reduced costs, streamlined its processes and built a framework which promotes cross-organisational communication and integration.
CEO of SUNTEC, Laurent Chevalier, praises Oliver Wight for its role in the company’s transformation, “The management experience of the Oliver Wight consultants has been integral in SUNTEC achieving Class A in IBP in June 2018.”
Despite a stellar reputation for producing high-quality pumps amongst an established customer base, a series of undiagnosed detrimental operational practices and processes resulted to SUNTEC experiencing serious cash flow problems in 2016. Compounded by a lack of transparency, teamwork and an autocratic style of management, SUNTEC declared bankruptcy in June of the same year.
Fortunately, through a combined and determined effort by Chevalier and Oliver Wight consultants, Catherine Schmitt-Weber and Flavio Pietrocola, SUNTEC were given the chance to bring the company back from the brink of complete collapse. Schmitt-Weber says, “An earlier audit of the company had revealed that SUNTEC’s people had the skills, the competency and the enthusiasm to turn the company around, once a programme like IBP was in place.”
Over the subsequent 24 months, the implementation of the IBP programme revitalised SUNTEC’s operations, with the company producing 12-24 month forecasts, and working three-to-six months ahead. Monthly review meetings are now de rigeuer, with collaborative ways of working integrated into the company’s culture, as it rounds off the year with its books comfortably balanced.
Looking ahead, the game plan is diversification and innovation; Chevalier enthuses, “Because of IBP, SUNTEC now has the capital from its current operations to further invest into new growth projects, expansion of projection and to prepare for the future.”
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