Today our business class had the opportunity to visit the Sandvik center in Mebane North Carolina.
What is their mission?
The company is a Swedish manufacturing company and their mission is to develop, manufacture, and market highly processed products, that contribute to improving the productivity and profitability of their customers. The company has main goals of ambition, speed, focus, and globalization. Being a manufacturing company, they have to really focus on safety and safety in the workplace. Their focus is on improving productivity and efficiency while contributing to innovation.
Who are their customers?
Sandviks customers produce products for many different industries including mining, engineering, automobiles, and aerospace. There customers are basically those in need of metal cutting and molding. The industries are distributed with 40% mining, 19% general engineering, 11% construction, 10% automotive, and 9% energy.
What do their customers value?
Sandviks customers value the top quality products that Sandvik provides. The customers value a successful product. Sandviks products are of the best quality but are not necessary the cheapest, because you pay for the quality. Innovation is important to the company trying to keep up with their global market. The customers seriously value the durability of Sandviks products but also helpful customer service.
What are their results?
The results of this company are impressive. According to the presentation we received today, Sandvik has only not been profitable in two years since it started, one of which was during the difficult year of 2008. The company has been a world leader in its field and wants to continue on its path of success. Sandvik has representatives in over 130 countries and have had a return of 19.8% on their capital employed and have a 13.7% operating margin. Sandvik is publicly shared and has about 110,000 shareholders. They have been continued to be recognized on a global scale for producing top quality products. Since 2000, they have increased over 10,000 employees and have gained over 17,000 SEK in sales, which is the Swedish dollar. Sandvik is overall a very impressive company that plans to innovate and remain a world leading manufacturing company.
What is their plan?
Sandviks plan is based on emerging markets, increased wealth, industrial innovation, increased energy consumption, shorter product life cycles and continued profitable growth. The company is looking to expand east and west into the markets where the demand for their products is greatest. They are trying to be innovative with their products and increase productivity. Sandvik has grown significantly in the last few years and plans on continuing on their path of success.
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