Concentrate on costs. The flight to value will put pressure on your prices. Staying on top of productivity, leaning out your processes, and watching material costs will remain as important as during the recession.

Develop key lead indicators. A recovery can bring explosive growth. To stay ahead of the market you should pay

attention to the demand indicators for all of your products, especially those new introductions brought out for the new normal.

Be a first mover. Most of your competitors will not gear up until the talking heads on the evening news say the recession is over. By then you should be well into your recovery plan.

Competing in this transforming economy requires a reassessment of

all of your business processes from product development, promotion, pricing, and merchandising to customer service. Ensuring that your offering – the value proposition that defines your company – aligns with the needs of your target customers remains a non-stop job.

Bottom Line: In the new normal, business as usual will not cut it. As always, every product and process in your company starts on the road to obsolescence the minute they are launched. So think like your products are obsolete, your processes inefficient, and your customers gone. ●

105 YEARS OF EXPERIENCE. 407 COLORS. 203 DESIGNS.

1 PHONE CALL.

Art Raymond is a manufacturing consultant specializing in furniture, cabinets, millwork, fixtures, and other secondary wood products. His firm, A. G. Raymond & Co., has developed management and technical solutions for manufacturers around the world. Contact him at 919/831-0070, by email at araymond@ raymondnet.com, or on the Web at www. raymondnet.com.

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