In today’s episode of 'Inspiring Innovation', we delve into the crucial topic of cost savings and reduction techniques in the manufacturing sector. Our special guest, Rod Holter, brings his extensive background in aviation, quality engineering, and his transition into private equity, to the table, now flourishing as a franchise owner of Schooley Mitchell. We cover Rod's impressive career trajectory, from his early days at big names like Piper Aircraft and Cessna to his strategic move into private equity and, finally, his venture into the cost reduction consulting world with Schooley Mitchell. Rod shares valuable insights into effective strategies for negotiating better deals and leveraging data to understand cost categories, underlining the importance of being open to external consulting help for optimizing operational costs. He discusses the significant impact that saving on overhead costs can have on a company’s bottom line and future growth. This episode is packed with anecdotes, practical advice, and Rod's personal experiences in navigating cost savings across different industries, making it a must-listen for anyone in the supply chain, engineering, or anyone involved in the manufacturing sector looking to discover untapped areas for savings and reinvestment opportunities.

00:00 Welcome to Inspiring Innovation: Focus on Manufacturing and Cost Reduction

01:01 Meet Rod Holter: From Aviation to Private Equity

01:37 Rod's Journey Through the Aviation Industry

06:05 Transitioning from Manufacturing to Private Equity

10:10 The Schooley Mitchell Franchise: A New Venture

12:49 Exploring Cost Reduction Strategies with Schooley Mitchell

18:23 The Challenges of Negotiating Vendor Pricing

19:58 Leveraging Savings for Business Growth

25:57 Navigating the Post-COVID Business Landscape

34:19 Closing Thoughts and How to Connect with Schooley Mitchell

Resources:

Rod Holter on LinkedIn

Schooley Mitchell

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Polo Custom Product designs, engineers, and manufactures custom products for OEMs in the medical, fire & safety, and defense industries. Polo Custom Products has experts on staff to globally source and procure your specialty formulation materials. Our experts in quality assurance test and ensure all custom products meet standards and your requirements.

This show is part of the ICT Podcast Network. For more information visit ictpod.net