Sometimes the simplest of strategies can
create the most successful results, as
Steve Peplin, the CEO of Talan Products Inc., can attest.
The Cleveland-based company provides
custom metal stamping, tube forming, aluminum extrusion and aluminum fabrication
services for many industries.
Talan was founded in 1986 with one goal:
Find a customer who needs a part made for
them, and then obtain the expertise and
equipment to manufacture it. When Talan
started, it made one part for one customer.
During its second year, the company added
another part for another customer.
The challenge in being the sole manufacturer of one part for one client is that it leaves
no room for errors. If a mistake is made, a
project can become a losing proposition, and
too many losses could spell disaster.
Through its philosophy of partnering with
customers, an idea that was just evolving in
the ’80s, Talan found itself in a unique position. The company’s first two customers, as
well as its third and fourth, continue their
business relationship with Talan today.
Peplin takes an innovative approach to running Talan. Through open-book management, financial metrics are shared with the
entire work force. Profit and loss reports are
generated weekly and compared with the annual budget during meetings. Any variances
over .1 percent are analyzed or discussed.
He has found that sharing this information
with employees brings them together and
keeps everyone working toward a common
goal. By basing bonus plans on controllable
costs and company profitability, all employees — not just the managers — are able to
keep their eye on the ball.
Peplin strives to retain his employees and
improve his work force through training initiatives and remedial training to enhance
areas that are found to be deficient. His executive team is given proficiency and emotional intelligence assessments, as well as traditional and nontraditional leadership training.
Always looking toward the future, Peplin
plans to maintain his company’s proven winning formula: Provide excellent customer
care and success will follow.
HOW TO REACH: Talan Products Inc., (216) 458-0170 or
www.talanproducts.com