Join us in welcoming Greg Olson to the SEWN team. Greg is the new Manufacturing Director for the Southeastern PA SEWN office. Greg has successfully helped to develop and implement three company turnarounds and two business start-ups. He has worked in leadership roles with large manufacturing companies and smaller industries. Greg has a BBA in Labor Relations from Temple University and an MBA in Marketing from LaSalle. He will lead the southeastern Pennsylvania turnaround consultants, Jack Bardol and Jim Pater.
A leading Northeast Pennsylvania manufacturer of CNC machined components and assemblies was referred to SEWN by the Northeast Industrial Resource Center. The company is experiencing an increase in demand for its products. However, cycle times and receivables issues have created a shortage of working capital and are impacting cash flow. After nearly exhausting its line of credit, the company was able to restructure. SEWN performed a detailed cash-flow analysis; is assisting with improving internal cycle time processes; and conducting a review of customer terms to generate improved cash flow and operating performance.
A central Pennsylvania lumber company underwent cash flow difficulties due to the bank's restriction of its line of credit, the payment terms for its raw materials, the decrease in the housing market, and the age of its receivables. After completing a business review, SEWN recommended that the company prices its products more aggressively on larger orders in order to cover its high fixed costs and sustain its cash flow. SEWN also provided the company a pricing tool and financial forecasting model that greatly reduced the company's operating costs.
A western Pennsylvania manufacturer serviced large customers with some of the largest furnaces in the world. The economic downturn affected many of the company's customers. SEWN developed a sales and marketing plan to guide the company in diversifying its customer base by leveraging its furnace size, expertise, state-of-the-art equipment, and other competitive advantages. The company also implemented a more effective lead management process which has increased opportunities and sales.
Since its inception in 1993, The Strategic Early Warning Network has contributed to the retention and revival of more than 700 industrial enterprises within Pennsylvania, impacting more than 18,000 jobs. SEWN assists manufacturers throughout the state who are struggling to grow or improve the competitiveness of their business. SEWN provides professional and confidential turnaround, financial, and investment services to small- and middle-market firms employing 25-500 workers through the following core services: Financial Restructuring, Operational Restructuring and Cost Management, Ownership Transition and Buyouts, High Performance Workplaces, and New Market Opportunities. All of SEWN’s services are provided free of charge, and all information provided is handled in strict confidence. For additional information, please contact your local SEWN office.
The Strategic Early Warning Network is a program of the Steel Valley Authority in partnership with the PA Department of Labor and Industry.
