OKLAHOMA CITY, April 23, 2014 /PRNewswire/ -- CMP Corporation, the world's largest independent supplier of replacement compressor parts for HVAC and refrigeration equipment, has been recognized with the 2014 Manufacturing Leadership Award (ML Award) in Operational Leadership for its Lean Manufacturing Initiative, a comprehensive, systematic and multi-year effort to eliminate waste and generate cost-efficiencies across the company. The strategic initiative has dramatically transformed operational performance for CMP, with more than 3,000 customers across 95 nations, from the front office to its 160,000-square-foot manufacturing plant in Oklahoma City.
"It's an incredible honor to be recognized with a prestigious Manufacturing Leadership Award," said CMP President Brad Croy. "The gains we have realized are a testament to the value of applying proven Lean principles and adopting cloud ERP in manufacturing. NetSuite has been instrumental in helping us achieve the real-time visibility and process efficiency we needed to eliminate waste and grow the company."
CMP (www.cmpcorp.com) undertook its Lean Manufacturing Initiative in 2009 as it, and other companies, struggled with the effects of the recession. Critical elements of the initiative included workforce training in Lean best practices through manufacturing industry alliances in Oklahoma and implementing NetSuite (NYSE: N) cloud ERP to replace a costly and inefficient on-premise Visual Manufacturing application and Microsoft SQL Server database. Using Lean principles of eliminating waste, CMP undertook a large-scale overhaul of its manufacturing plant, implemented new optimizations in production and inventory control, and reduced its in-house server count from 10 to two while avoiding the cost of one full-time IT professional.
In its core crankshaft production line, the Lean Manufacturing Initiative has enabled CMP to reduce production lead time from 85 to 10 days, cut crankshaft production costs by 25 percent and decrease the distance traveled for crankshaft production from 1 mile to 240 feet. These and other efficiencies, including a 90 percent reduction in back-orders and 75 percent improvement in IT efficiency, have helped CMP drive double-digit revenue gains and improve its competitive position. In addition, CMP's selection of NetSuite cloud ERP enabled it to channel resources into its Lean initiative, rather than capital expenditures that would otherwise be required with a new on-premise ERP system.
CMP's Lean Manufacturing Initiative was also honored in October 2013 with an Oklahoma Governor's Manufacturing Leadership Award.
"The Manufacturing Leadership Awards Judges were very impressed with the willingness of CMP Corporation to challenge conventional thinking and to aggressively adopt new technologies and breakthrough business processes," said Jeff Moad, research director and executive editor at Frost & Sullivan's Manufacturing Leadership Council. "With considerable help from NetSuite, CMP was able to direct more of their resources where it mattered most: the development of best-in-class products and superior customer service."
Manufacturing Leadership Awards
The Manufacturing Leadership Awards (ML Awards) honor companies and individuals that are shaping the future of global manufacturing. Award nominees describe their breakthrough projects using the nomination form. Nominations for breakthrough projects are entered into specific categories and evaluated by a panel of expert judges. Seven of the ML Awards categories are for outstanding projects undertaken and completed by a manufacturing company. Four of the categories recognize the achievements of individual manufacturing executives.
For more information, go to: http://mlawards.gilcommunity.com/
About the Manufacturing Leadership Council
The Manufacturing Leadership Council, Frost & Sullivan, is the world's first member-driven, global business leadership network dedicated to senior executives in the manufacturing industry. The Manufacturing Leadership Council's mission is to help senior executives define and shape a better future for themselves, their organizations, and the industry at large. The Council produces an extensive portfolio of leadership networking, information and professional development products, programs, and services -- including the Manufacturing Executive Website, an online global business network with 5,300 members around the world; the Manufacturing Leadership Council, an invitation-only executive organization of over 100 members; the annual Manufacturing Leadership Summit – Bold Ideas for a Better Future; the Manufacturing Leadership Awards, celebrating industry achievement; and the thought-leading Manufacturing Leadership Journal. More information on www.MLCouncil.com.
About Frost & Sullivan
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SOURCE CMP Corporation