Trade shows are a great way to demonstrate products and to meet people face-to-face. They are very useful when you want to see products that require a demonstration or, as my brother Keith would say, “where you want to put your hand on the machine.” But there are even more reasons to attend the BCMC Show in Omaha, NE this year.
Most people going to a trade show never really have a strategy other than to see the latest and greatest, maybe compare saws or other equipment. But a strategy to maximize your time? Well that is a different matter. Have you ever sat down and laid out a plan for attending BCMC? We strategize and create marketing plans for our company, so why not do the same for the show? Especially for someone new to the show, all of the educational sessions and exhibitors can be overwhelming. And this year is one of the largest shows we have had in several years!
I have talked with numerous component manufacturers this past summer and many are excited about looking at the latest automation equipment including what’s new with robotics. If you are going with a team of associates from your company, consider dividing up your objectives and making plans now.
BCMC Educational Sessions
First, take a look at the educational sessions. Most of the sessions are structured in tracks, and each offers valuable information on risk management, trends, design, the economic forecast, and more.
- Divide up the sessions amongst your team so you extract all of the information you can
- Review the session topics and highlight specific things you want your team to learn or ask questions on.
- Make sure your team takes notes so they can share what they learn with everyone.
- Remember to keep an eye on growing your business—these sessions are not simply educational but should help you look to the future.
Sometimes we forget that one of the valuable parts of leaving our operation is to learn from others, and the educational sessions provide a wonderful opportunity for that.
BCMC Exhibits
Many companies have already begun to purchase automated equipment to improve efficiency and profitability in their companies. But the fun of BCMC is that there are always new ideas to see and other equipment to evaluate. In addition, there are exhibitors from insurance, lumber companies, material handling equipment, software, and even consulting. Each of the exhibitors is not just there to sell you something or themselves, they are and should be there to improve your business. Having a strategy for walking the show floor, making decisions, etc. is important. You should go with a few things already done.
- 1. Assess your business reality
It is important to understand your company’s objectives. Are you looking to increase productivity? Will this new equipment make you more successful in the marketplace or solve a problem in the field? Will it help you stay ahead of your competitors? Can you upgrade instead of buying new equipment and still get better performance? How can a vendor help improve my bottom line, better purchase material, or lower costs in the operation?
Asking these kinds of questions ahead of the show will provide you the basis for a roadmap.
In today’s competitive business world, being innovative in everything you do is key to success. Innovation is really about responding to change in a creative way; one way to do this is by acquiring equipment or technology that helps you improve your efficiency.
Your new equipment or software might help you streamline your operations and create better products and services that appeal to a niche market, for instance, or it might help improve customer service. It’s always a good idea to let your customers know that you’re investing in innovation; it’s a clear message that you have their evolving needs in mind.
- 3. Look at your business as a whole
Rather than making isolated purchases, look at the overall needs of your operations. Short-term purchases without long-term plans are costly and may not yield the best results. An external consultant can conduct a review of operational processes to help you fully understand the way your business works. This review enables the consultant to devise a sound plan that ensures your operations run smoothly and don’t generate waste. Another question worth asking is whether the equipment you are replacing could be used somewhere else within the company. Often, for example, less powerful computers can be reused in departments that do not require high-performance machines.
Creating such a plan helps you focus on improving one area of your business at a time, rather than tackling an entire process. Ultimately, you could improve turnaround time, efficiency, or other aspects of your business.
- 4. Shop around for suppliers
The beauty of the BCMC Show is your ability to see the majority of the vendors in our industry on the exhibit floor. You have the chance to see and compare what you might be shopping for and in some cases with multiple suppliers. Evaluate what is best for your company, who is the right fit, and who is going to be there for you long-term.
Ask questions of the suppliers and make sure you know what you are really getting.
All too often, owners and managers don’t consider the time, money, and resources required to train employees on new equipment or software. You want to avoid the productivity drop that occurs when employees take too much time to adapt to new technology or processes. If the equipment is new or has new features, you can assume employees will face a learning curve.
It’s important to head off problems by ensuring that you have a plan in place to address the resulting downtime. You’ll need to block off time to train employees and still be sure that your operations can run at capacity.
- 6. Know your financing options
Every method of financing has advantages and disadvantages, so carefully evaluate each option. Make sure you talk with your bank and your vendors to understand the options you have.
The specifics to be considered vary from one company to another and depend on multiple factors.
A healthy and safe work environment means your employees and your company can be more productive, and this rule applies to your equipment and technology purchases as well. Your suppliers are responsible for selling you equipment that can be used safely, but you are responsible for ensuring that your employees follow safety rules.
You may also want to ensure that office equipment, such as furniture or other equipment or processes, are ergonomically designed to reduce employees’ risk of injury and discomfort while enhancing productivity.
Investing in the right equipment, software, or purchasing from a new material supplier can be a complex task. But, heading to Omaha with the right frame of mind will help make your decisions easier. And if we can be of assistance to you, as we have for hundreds of manufacturers, we would enjoy the opportunity and can help you see the big picture and plan your purchases so that your company’s goals are achieved in challenging times.
Ben Hershey is CEO of 4Ward Consulting Group, LLC, the leading provider of Management and Manufacturing Consulting to the Structural Component and Lumber Industry. A Past President of SBCA, he has owned and managed several manufacturing and distribution companies and is Six Sigma Black Belt Certified. Ben has provided consulting to hundreds of Component Manufacturers, Lumber Dealers, and Millwork Operations in the past seven years. He is highly recommended by customers and leaders throughout the industry. You can reach Ben at ben@4WardConsult.com or 623-512-6770.
© 2017 4Ward Consulting Group, LLC