Three years ago, TBM began working with Hubbell Incorporated (767 in the Fortune
1000) on a Lean Sigma transformation spearheaded by CEO Tim Powers. When we
started, Hubbell was still a strong, successful company, but their key numbers
were moving in the wrong direction.
By 2003, that trend had been dramatically reversed:
- Net sales up 35% (vs. 8% decline from 2000 to 2001)
- Net income up 138% (vs. 65% decline from 2000 to
2001)
- Earnings per share up 132% (vs. 64% decline from
2000 to 2001)
- Record cash flow from operations ($244 million)
- Inventory reduced by $170 million (from 2001 to 2003)
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In their 2003 Annual Report, CEO Tim Powers outlines the rapid bottom-line
improvement Hubbell has achieved with their Lean Sigma initiative, in a challenging
economy. See
the 2003 Hubbell Annual Report
Using Lean Sigma, TBM can help you achieve similar levels of improvement –
and substantially reduce the time it takes to make and deliver your products.
With a stable, motivated work force and without significant capital investment.
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 A note from Timothy Powers:
 I
want to share with you what I believe is one of the
important initiatives ever undertaken by my company.
Three years ago, Hubbell faced many of the challenges
manufacturers still wrestle with. It was clear that
our traditional business activities, no matter how well
we executed, would not allow us to achieve our aggressive
sales, margin and share goals.
So, at that time, with the guidance of TBM Consulting
Group, we began a “lean transformation” of our company
and culture. Almost immediately, we saw improvement
we could not have generated otherwise. Our entire company
is now fully committed to this course, which is making
our business stronger and more competitive every day.
While we are still in the early stages of this “journey,”
our 2003
Annual Report describes the dramatic bottom-line
benefits we have achieved thus far – and the “transformation”
that is driving those results. TBM remains an essential
partner in this effort.
President and CEO
Hubbell Incorporated
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