They could either continue running Advance Packaging Corp. the way it had always been run and hope for the best, or they could rethink the way things were done to adapt to a changing economy.
They chose change and Advance Packaging Corp. has prospered as a result.
Hoyt and Crossley relied on core values of: putting employees first; making the company a great place to work; being a good corporate citizen; investing in the best technologies; and never compromising quality or integrity.
The previous owners had kept information to themselves, but Hoyt and Crossley began to arm staff members with the information they needed to understand the marketplace, the company and what needed to be done. They involved staff members in building solutions.
In the face of declining business, they tripled the company’s design staff and capabilities. They began offering returnable packaging and expanded the company’s pre-assembled packaging. They installed a lab to test the performance and endurance of packaging designs under simulated shipping conditions. They purchased new equipment to reduce costs and speed up production, and diversified their customer base.
Productivity of the staff and in the plant increased. New value-added products and services with better margins replaced lost business.
The company benchmarks its financial performance against other similarly sized firms in its industry and is consistently the national leader in return on assets.
How to reach: Advance Packaging Corp., www.advancepkg.com