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Venturing for success Featured

7:00pm EDT January 29, 2008

The old saying goes, “If at first you don’t succeed, try, try again. That’s exactly what Venture Plastics Inc., which has two facilities, one located in Newton Falls, Ohio, and one in El Paso, Texas, did for the production of its Drain Bucket.

The original production of the Drain Bucket resulted in negative margins because of excess labor and poor quality assurance for the company, which is a “Best in Class” supplier and has been supplying custom injection molding services since 1969.

So, the company, whose major markets include appliances, communications, industrial and transportation, created a project called the “Drain Bucket Lean Team.” The purpose of the project was to promote process innovation and improve pricing and margins.

Not only did the company need to create a brand-new Drain Bucket product, but it also had to improve its existing process.

The goal of the project was to meet the production demand of 4.1 million parts per year while realizing improvements in quality and margin. An added benefit of the project would be a reduction in labor costs as well as increasing the likelihood of additional customers.

The project resulted in the company developing a more efficient product process, and it realized a 62 percent improvement in quality as well as a 75 percent reduction in labor. Venture saw the added benefit of reducing scrap from .95 percent of total parts produced to just .37 percent of total parts produced. It also saw an increase in margin by 6 percent.

The success of the product shouldn’t be a surprise for the company, which is led by CEO Steve Trapp and Plant Manager Jim Smith. Venture Plastics Inc. is considered an expert in product development. The company’s technology team has been called upon for years by some of the largest corporations in the world to solve tough product development challenges.

The technology team can provide customers with superior design support, cutting-edge knowledge of exotic materials and engineering resins, original engineering design concepts, rapid prototyping, innovative international tool construction, and even customized manufacturing processes that meet specific needs.

HOW TO REACH: Venture Plastics Inc., (330) 872-5774 or www.ventureplastics.com