Situation: After experiencing some problems with a newly purchased valve line, Richards Industries called on its long-standing relationship with TechSolve to update design and manufacturing prints, reduce lead times, and increase sales.
Project: The team identified and eliminated excess inventory and products to reduce costs, and cleaned and organized workspaces to free up room for an engineering research and development (R&D) area. Through TechSolve’s assistance in applying a number of advanced manufacturing technologies, Richards reduced average setup time in the machining area by 50% and adopted the culture of continuous improvement required to sustain project-related operational improvements.
TechSolve maintained a coaching role with Richards for several years before partnering again with Richards Industries to implement changes aimed at enhancing the productivity and profitability of their multiple valve lines. TechSolve helped Richards’ managers analyze all of the processes surrounding Richards’ five valve lines to identify opportunities to minimize waste, reduce lead times, and improve production flow.
In addition to support relating to operational improvements, Richards took advantage of TechSolve’s expertise in analyzing and improving innovation and product development processes. As part of this effort, Richards participated in the Eureka! Winning Ways program. Through the Eureka! discovery process, Richards uncovered a previously unnoticed product development opportunity within its Jordan Valve line. Seizing this opportunity, Richards focused on its sanitary valve line (which had great potential for growth given the emergence of biotech markets), revamped it, and now markets it as its Steriflow product line.
Over a decade-long relationship, TechSolve has helped Richards Industries transition from a company simply desiring to improve, to a company continuously identifying and acting on pragmatic opportunities to cut costs, reduce lead times, improve quality, and enhance innovation and top-line revenue growth.
Results:
- 67% increase in annual sales over five years.
- Number of hourly employees remained flat over ten years.
- $167,580 in cost savings from modifications to the product development process.
TESTIMONIAL: “At Richards Industries, implementation of Lean is truly a journey. Richards has been at this for nearly 10 years and TechSolve has been a key partner along the way from the very beginning. We have a long way to go and plan to continue our strong relationship with TechSolve moving forward.”
– Bill Metz, Vice President of Operations