Looking for a reason to reinvest in your Company? Here’s six.
- Improve working conditions for your employee’s health and safety.
- Reduce your Company’s footprint on the environment, including energy consumption, process improvement, and material handling.
- Shorten turnaround time on customer orders.
- Increase capacity and efficiency to better support customers.
- Expand capabilities to increase your value to customers.
- Improve quality by using the latest technology.
Here at TCI Precision Metals reinvesting in our business has never been a question. Like most, our challenge has always been WHAT, WHERE, HOW MUCH, and WHEN to invest? Of course, there is always repair, maintenance and overhaul going on, but I’m talking about capital investment. New equipment, technology, facilities, and human resources to make it all work.
As a family business, we have always maintained the philosophy, if you take care of the Company, the Company will take care of you. If you subscribe to this thinking and apply some simple logic, it will help guide you in making important reinvestment decisions.
For us, WHAT and WHERE to reinvest is pretty straight forward. We recognize our business is made up of three key elements: customers, employees, and equipment. All three are interlaced and require the utmost care and attention. As an example, the following are reinvestment's TCI Precision Metals has made over the last 12-months:
- New high technology LED lighting throughout our 110,000 sq ft shop has added more light and reduced energy consumption
- Improved shop layout and work cells have improved production efficiency and reduced employee fatigue
- Addition of a new AMADA THV800 duplex mill has improved our milling capacity and throughput, shortening customer lead times
- Addition of a new OMAX 80X Series waterjet machine provides customers with CAD cut precision and quick turnaround, from an environmentally green cutting solution
HOW MUCH and WHEN to reinvest in your shop will fluctuate based on the inherent ebbs and flows of the manufacturing industry. Most companies tend to reserve 25-30% of annual profits for taxes and reinvestment purposes, which is why for many, the end-of-the-year is a popular time to assess and invest.
Thanks for reading -
Ben