Guiding Principles
OUR GUIDING PRINCIPLES
Fundamental principles to help guide you in the decision-making process.
SUPPLY CHAIN
1. Eliminate waste.
9. No favoritism.
2. 80/20 strategic/product segmentation. 3. De-resk (multiple sources) domestic import. 4. Loyal. Legacy supplies incumbent mindset.
10. Supplier agreements.
11. Lifecycle.
12. Governance. VAVE monthly re- engineering the supply chains.
13. G/Y/R transparency
14. Proposal based process to make changes in the supply chain. 15. China strategy - Developing new suppliers. 16. Raceway - terminal assemblies/ existing plastic/products.
5. Performance-based.
6. Value-based. How we do business is important.
7. Highly transparent & collaborative.
8. Consistently fair across all suppliers. Ethics.
17. Negotiate tariff with Byrne Asia.
• Trust: Invest in relationships
• Direct communication
• Agility
• Efficiency
• Continuous improvement
• Digitize
• Competition
TARGET PRICING
1. Legal.
2. Good faith.
3. Target pricing.
4. Not based on lowest competitive partner.
5. Analysis of total cost. Target is to be within 10%.
6. Lifecycle/launch/growth/mature/decline.
7. Marketing pricing and reference.
8. Decouple business decision from target pricing. Purchasing must negotiate independent of GTM and GM function to provide best decision.
9. Marketing/Sales/Purchasing collaborate on TP.
METRICS
1. Results driven. Drive behavior.
2. Goal must be on the document or tool.
3. Context should be included in the footnote.
4. Automate when possible.
5. Trend line.
6. Should be a leading indicator that drives action.
7. Data Integrity. Should be valid and relevant.
8. Self-Evident. KISS concept. Crystal clear.
ONBOARDING
1. Orientation should be completed by HR.
2. Lunch should be provided on the first day.
3. The new hire should be given a people tour.
4. New hires should be involved in event planning, CSMs, and important cross-functional efforts whenever possible.
HIRING DURING A RECESSION
1. Orientation should be completed by HR.
2. Lunch should be provided on the first day.
3. The new hire should be given a people tour.
4. New hires should be involved in event planning, CSMs, and important cross-functional efforts whenever possible.
SALES INCENTIVES
1. Fair, honest, flexibility (review every six months).
2. Drive behavior. Reward behavior that drives outcomes/impacts and not just activities.
3. Align to product/market/customer segmentation strategies.
4. Stretch but achievable SMART.
Distribution of Incentive
1. Audited financials.
2. On a consistent schedule. 30 days from the last day of the quarter.
How
3. Ethical, earned via disciplined sales process.
4. Realtime feedback loops and transparency.
Outcomes
1. Increase sales, margin, stickiness/embeddedness/annuity, brand value/ awareness, new product sales.
2. Customer/market/product diversification .
3. Customer loyalty & wallet share.
4. Challenge, motivate, achievement recognition. Collaboration with peers.
Drivers between Groups Should be Consistent
5. CSS, performance, CRM.
CUSTOMER SWAG
1. Byrne Brand = Powerful Design
2. The reasons for giving a Byrne gift to a customer are:
• To delight our customers • To further connect them to the Byrne brand
3. Think seasonally
4. Be beyond trend
5. Be budget-conscious, but don’t be a tight-ass (re: the right gift could push a million-dollar sale over the edge.) 6. Customer Segmentation / Gift Segmentation (Think in tiers, what level of customer receives what level of gift? 7. Less is more; a few brilliant ideas are better than a dozen mediocre meaningless ton of crap
8. Deliver Delightfully
Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18Made with FlippingBook flipbook maker