Compact Mould credits success to R&D culture
If you want to succeed, then you have to make research and development, (R&D) along with the drive to find new markets, the very DNA of your company's culture....
If you want to succeed, then you have to make research and development, (R&D) along with the drive to find new markets, the very DNA of your company’s culture.
That is what Miguel Petrucci, president and owner of Woodbridge, Ont.-based Compact Mould Ltd. firmly believes is behind his company’s continued success and growth. And he has the figures to prove it.
When he started the company in 1978, Compact Mould was housed in a 1,600 square foot (sq. ft.) facility specializing in extrusion blow molds. Now the company has grown to fill a 21,000 sq. ft. facility and has expanded into the U.S. and Mexico. The company has plans to soon open an R&D centre.
The focus on R&D has allowed Compact Mould to focus on getting molds out faster to customers, many of whom are demanding molds be cut, in some cases, in just a few days so they can test product designs faster. This allows companies to get products out into the market faster, thereby capturing market share and sales.
“Speed-to-market today is no longer just how quickly you can make the mold, or how quickly you can design a mold,” Petrucci said. “Now it is how quickly you can get a product, like a bottle, into the customer’s hand. They want to touch and see what they will be producing as quickly as possible. Companies today want molds almost immediately. Lead times that used to be four to five weeks are today less than two weeks. Some customers are even asking if molds can be done in just a few days.”
Compact Mould has 24 CNC machining centres, two CNC lathes and over 50 conventional milling lathes and small grinders operating in its facilities. Along with such modern machinery, Compact Mould also uses up-to-date software for designing molds and can turn around a prototype model, according the company’s Web site, in times as short as five days.
“Research and development has to be a way of life,” Petrucci said. “The point is how to make yourself better everyday. It drives you to think about how to make a better fixture, how to make a better tool, how to improve lead times.”
Petrucci added that a culture of research and development creates an environment that encourages employees to strive to help the company succeed by looking for new ways to improve processes and more quickly serve customers.