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Sypris Electronics, LLC, a subsidiary of Sypris Solutions, Inc., announced today it is targeting the Shingo Prize for Operational Excellence as a benchmark for success for its operational improvement efforts focused at exceeding customer expectations. The Company has been applying Lean, Six Sigma, and Hoshin policy deployment principles and tools to substantially accelerate business process improvements and the implementation of best practices. Sypris Electronics intends to compete for the elite prize in 2011.
The Shingo Prize was established in 1988 to foster awareness of Lean operational excellence practices and to recognize companies in North America that achieve world-class manufacturing status. It provides a proven model and framework for companies pursuing excellence.
During the past 14 months, Sypris Electronics has achieved significant results by increasing productivity and exceeding customer expectations. Through a unique combination of leadership concepts, tools and teamwork, the Company has improved its quality, cost, and delivery performance. A proven “baseline” process was used to identify high leverage opportunities to enhance the business, then internal cross-functional teams were deployed for the purpose of applying Lean and Six Sigma methodologies to drive dramatic results. Consequently, key elements leading to the organization’s improved competitive position within the market and enhanced customer satisfaction include, increased productivity and product velocity, thereby, reducing working capital, direct labor, and overhead costs; as well as, reduced manufacturing cycle times, scrap/rework and factory footprint.
“In June 2008, we started a journey to significantly improve our business by focusing on Best practices, Accountability, Teamwork and Speed (BATS). As part of this effort, we rigorously analyzed every facet of the Company to identify the root cause of undesirable effects to our business,” stated John Walsh, President of Sypris Electronics. “The key differentiator in this process was teamwork; the Sypris Electronics team worked together to create significant improvements in our ability to meet customer needs and position our Company for growth. These processes and improvements are the core of our transformation effort.”
Sypris Electronics is a world-class, integrated systems solutions provider. Our ruggedized electronic products, advanced engineering services and complete electronic manufacturing capabilities are aligned to provide our customers the best people, practices and technologies to continually exceed expectations. We consistently promote an agile, innovative culture by strategically partnering with leading-edge technology companies, agencies and universities. With over 40 years of experience, Sypris Electronics is proud to develop, manufacture and integrate leading technologies into mission critical electronics systems that secure America’s interest. Visit www.sypriselectronics.com for additional company information.
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