Keith Malmstadt’s success has been driven by understanding the core competencies of his company, Great Lake Woods, in relationship to people, equipment and process.
Using those core competencies as building blocks, the company began to expand its horizons. Malmstadt examined other industries in how they used wood products, market trends and developed strategic partners in regards to source materials, equipment and customers. These relationships challenged the company to get better, innovate and expand skill sets. The company learned how to reduce lead time, improve flow, take risks on new technology and create new products to differentiate the company from overseas competition.
Malmstadt also led initiatives to work on local and national wood skills training programs, joined trade associations and learned how to cross-pollinate products and processes to other wood component part users. He is constantly looking for best practices from any industry segment to incorporate into the company. Great Lake Woods has also partnered with local government to take advantage of tax abatements, applying for training grants and energy credits.
Malmstadt’s goal is to continue to develop strategic partnerships with its employees, vendors, customers, trade associations and the government. By using these strategic partners and examining market niches, having innovative products and improving and expanding its marketing vision, Great Lake will continue to grow. He’s always said “if you aren’t moving forward, you’re moving backward.”
HOW TO REACH: Great Lake Woods Inc., www.greatlakewoods.com