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Impacting 2004 Profitability

Impacting 2004 Profitability. EFW Fort Worth Facility. 2004 Sales Plan. 2004 New Business Plan. 2004 Revenue and GP% Goals. GP Pareto – 2004 AOP. GP Pareto – 2004 AOP. Risks and Opportunities Q1 2004. Fort Worth Facility. Cost Profile 2003. 2003 GP% was 22.5% with the cost profile below.

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Impacting 2004 Profitability

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  1. Impacting 2004 Profitability EFW Fort Worth Facility

  2. 2004 Sales Plan

  3. 2004 New Business Plan

  4. 2004 Revenue and GP% Goals

  5. GP Pareto – 2004 AOP

  6. GP Pareto – 2004 AOP

  7. Risks and Opportunities Q1 2004

  8. Fort Worth Facility Cost Profile 2003 2003 GP% was 22.5% with the cost profile below

  9. Fort Worth Facility 2003 Actual Costs(in $000) Total $160,936

  10. Fort Worth Facility Cost Profile 2004 Short Term Goal: 2004 GP% is planned to achieve 25.1%. This amounts to $4.9M improvement.

  11. Fort Worth Facility 2004 Planned Costs(in $000) Total $160,270

  12. 2004 Human Costs 28% 65% Total $47,496

  13. Fort Worth Facility Cost of Poor Quality Scrap Returns Rework 4-5% of Total Cost Rejects Test Repair Traditional True Excessive Overtime Late Engineering Planning Delays Excess Inventory MRB Expediting Engineering Rework Unused Capacity 15-25% of Total Cost Wasted Development Employee Turnover Past Due Receivables

  14. Fort Worth Facility Operations “Prudent Measures” 2003and estimated impact in Q4 $’s in 000

  15. 2004 Key Initiatives • Change Management • Define and develop a process for evaluating, planning, implementing changes at system, program and functional levels • EFW/ESL Relationships • Establish working together agreement with ESL that defines the rules of engagement for how we will work together

  16. 2004 Key Initiatives • Supply Chain • Develop supply chain strategy • Technical Capabilities • Determine our current and future relevant technical capabilities and people needs; train/recruit to be able to achieve our EFW growth goal • Market Understanding • Develop a process and system to thoroughly understand customers, technology, competitors and operational needs to form the basis of making strategic and tactical business decisions

  17. 2004 Key Initiatives GP Potential $’s in 000

  18. V-22 Pricing History

  19. Ideas to Impact Profitability - NOW • Manufacturing – $200k • Kaizen Event(s) • Speed Lean Projects • Focus on Unit Costs • Portfolio Management -- $300k • Training: Continue to seek funding from state -- $200k • Shared services – cooperation with sister businesses – total corporation savings $500k • IT • Finance

  20. Ideas to Impact Profitability - NOW • Supply Chain • Improve inventory accuracy • Limit Number of qualified suppliers • Retool Procurement Processes • Additional Qualified Subcontractors

  21. Operations Proprietary

  22. Operations Performance to Operation’s Commitments • Significant Programs Missed (Still Open) • ETC, Various Items, 352 Units • ASIRS, Various Items, 303 Units • AL-1 Follow-on, Various Items, 244 Units • TACOM Bradley Spares, Various Items, 166 Units • AGRIU, Various Items, 92 Units Proprietary

  23. Operations Aged WIP Trend

  24. Operations Order Burndown

  25. Operations

  26. Operations Production Overtime

  27. CpE = 0.47

  28. Summary • Plans are in work to attain the targeted GP% of 25.1% and Revenue of $188m • Stretch initiatives will improve EFW’s position for future growth and continued profitability • Operational performance continues steady improvement

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