#574 – Manufacturers Helping Each OtherPosted on
Manufacturers Helping Each Other
It is always good to hear from our readers, and it is even better when they share their good ideas!
In a recent concept project, the Greater Peoria (IL) Economic Development Council, along with their partners IL Manufacturing Excellence Center (IMEC), IL Procurement Technical Center (PTAC) at Bradley University’s Turner Center for Entrepreneurship, and private industry representatives, formed the Greater Peoria Manufacturing Network. The Network is a group of manufacturers that have joined together to strategically leverage shared resources to create opportunities they cannot achieve individually. Members of the Network seek to work together in a trusting culture to pursue business development opportunities through a collaboration model.
This one-of-a-kind business growth strategy was established to generate new business opportunities for metal component manufacturers in the area. These smaller manufacturers typically supply the big OEM’s, like Caterpillar, Komatsu, John Deere, CNH, and others in central Illinois, and have a proven track record of meeting those firms’ strict quality and delivery standards. According to Jennifer Daly, one of the goals of the Network was to help these small suppliers diversify their client bases to stabilize their employment, especially when the large OEMs have a downturn.
The following successes have already been achieved by members of the Network:
- *A $200,000 contract was landed by a member of the network based on leads provided through the network
- * A $50,000 bid has been submitted to the Navy for a component the Navy was having great difficulty sourcing. The normal bidding process had failed and direct attempts brought them to the GP Network. This member is now in excellent position to succeed opening this and other doors with the Navy and more importantly being listed for other large manufacturers required to partner with small manufacturers to qualify for future bids.
- * A group of 7 manufacturers have been advanced to quote supplying 5 components to an area OEM. OEM is now qualifying and scheduling meetings with Network members.
By focusing on the production capabilities of members and prequalifying bid opportunities, the network fills a strategic gap for small manufacturers, Daly added, new sales revenue are a great equalizer.
It is great to see the collaboration that is taking place in the Peoria region! To learn more, visit Greater Peoria Manufacturing Network.
Thanks goes out to Eric Canada with Blane, Canada Ltd., for passing along this idea in action.