North American woodworking industry firms that are succeeding are best described by two words: “flexible” and “resilient.” Hard hit by not only the economy but by low-cost imports, these firms are doing whatever it takes to not only survive, but succeed.
This is the third year in which we expanded the parameters of the WOOD 100 to not only recognize sales growth, but also to pay tribute to companies that have grown better. Their achievements are detailed in the story links below.
No One-Fits-All Solution
What works for one wood products manufacturer may not work for another. However, many of the strategies shared by this year’s participants can be adapted to suit the production and marketing demands faced by firms in all segments of the wood products marketplace. Here are a few of the ideas:
• Go beyond traditional marketing methods. WOOD 100 participants listed consumer-based contests, social media and apps among the go-to-market strategies used.
• Expand your focus. A number of companies not only developed products to enhance existing lines, but found new niche markets after expanding their production capabilities.
• Companies continue to focus on lean and green. Lean manufacturing and technology improvements enabled a number of WOOD 100 — large and small — to constrain their costs while improving turnaround time.
• Employees play a critical role in a company’s success. Methods in place for obtaining and retaining this “valuable asset” were provided.
• Customer service is also a priority. It’s what many say sets their companies apart from competitors and builds solid client relationships.
More WOOD 100 ideas will be detailed in an upcoming webcast on Nov. 14. Register at WoodworkingNetwork.com/webcasts.