LONDON A company based in Northern Ireland has saved £2.4million over the last three years by improving its business practices with help from Invest NI.
Schrader Electronics, based at Invest NI’s Antrim Technology Park, provides electronics solutions to the automotive industry and is a major supplier of remote tyre pressure monitoring systems.
It signed up for the Business Improvement Agent Programme which enables companies to recruit a dedicated member of staff who can introduce knowledge-led business improvement techniques.
The Business Improvement Agent post is funded jointly by the company and Invest NI for three years. It aims to achieve savings for the company of at least three times the agent’s salary, for each year of the programme.
The Business Improvement Agent at Schrader was Conor Drumm who helped the company to apply a variety of process tools and techniques in four main areas of operation: design, manufacturing, business processes and personnel development.
Drumm said, “We used the Six Sigma methodology to improve design and process performance, and applied lean manufacturing techniques to look at production cycles, increasing efficiency and eliminating waste. Building teams and developing performance indicators for each department has helped embed a culture of continuous improvement right across the company.”
During the three years the company saved over seven times the target amount and also doubled its workforce.
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