Situation:
The Engineering Polymers (EP) business was $2.1B strong with high dependence on the automotive market (60% of revenue). EP leadership was seeking to broaden its market with new business models for products and services for both partners and end-consumers. At the same time, EP had aggressive goals to improve operations efficiency, and deliver greater customer responsiveness through a redesigned supply chain process.
Solution:
The EP Division developed a series of integrated strategies to align operations to an improved market segmentation model to offer services tailored to high value customers and high volume customers. The division also developed an innovation strategy to introduce alternative service offerings based on unparalleled know-how within the division on the application of plastics. All strategies were supported by precise measures and corporate initiatives, and communicated enterprise-wide.
The division achieved 20% revenue growth in a 2-year period in hyper-competitive space and successfully launched new innovative plastic solutions.
