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As the newly promoted VP of a mid-sized Canadian based manufacturer suffering severe financial difficulties, I was charged with turning things around...and fast. <br> <br> The first order of business was to visit our factories, review procedures and make quick changes.<br> <br> On the way to the factory floor at one plant, I had to walk through a warehouse where there was literally a mountain of manufactured product that I knew was a chronic slow mover. I quickly realized that this amount of inventory of one finished product amounted to at least a 2 year supply and hundreds of thousands of dollars. <br> <br> As it turned out, this product could be relabelled, and shipped in replacement of a cheaper product, thereby liquidating the inventory in about 30 days. <br> <br> I made it clear to the factory superintendent that the purpose of the relabelling exercise was to liquidate the inventory and then drop the item from our sales line, altogether.<br> <br> 60 days later, I returned to the factory to find the mountain of inventory still in place. After questioning the factory super, I was informed that he had done as instructed, relabelled and shipped old inventory (at a loss) BUT because the product had moved so quickly he had run a second shift at the plant to keep his inventory level sufficient to meet the increased demand.<br> <br> He was gone in 10 days.
By maxintensity
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