A
World Class Manufacturing Challenge for Puerto Rico
Puerto Rico has been successful in attracting
large companies with financial incentives; but now
technological change
and the opening of global markets have rewritten the
rules of competition. Endless headlines have covered the
demise of dislocated workers as labor intensive factories
are lured by low-cost producing nations. While attracting a
new company to a community gets lots of press attention, an
even more important economic development strategy is the
retention and expansion of Puerto Rico’s existing
businesses. The key now is to leverage their presence. As
the world becomes more interconnected and competitive -
performance, quality and innovation are imperative. But when
it comes to performance, quality and innovation - how
are Puerto Rico manufacturers really doing?
World Class Manufacturing (WCM) is a term used to describe
Best Practice in Manufacturing or Manufacturing Excellence.
WCM companies consistently deliver results that place them
in the top twenty-fifth percentile of their industry by
continuously examining their business processes. WCM
companies are competitive on a global basis.
If the road to becoming a world class manufacturer is a
journey of continuous improvement - Where do our firms
stand on the road to becoming a WCM?
In its efforts to
provide technical assistance to promote competitiveness in
manufacturing the Puerto Rico Manufacturing Extension
Program, PRiMEX, with the support of the EDA, has created “Puerto
Rico’s First World Class Manufacturing Challenge” - an
island-wide, industry-specific technical assistance program
for small to medium sized manufacturers that seek
world-class competitiveness in manufacturing through
productivity and innovation. The project is also supported
by: Puerto Rico Industrial Development Corporation, Puerto
Rico Trade and Export Company, Puerto Rico Chamber of
Commerce, Puerto Rico Manufacturer’s Association, Puerto
Rico Products Association and by the Chair of Puerto Rico
2025 (Todos por Puerto Rico) a broad-based,
non-partisan initiative created to
develop a long-term vision and strategic plan for the
future of Puerto Rico.
In this unique opportunity, selected firms can apply for
Financial Assistance to defray the costs of defining their
path to becoming a world-class company. Firms may apply for
up to 50% of the costs of the diagnostic phase where the
firm’s performance will be benchmarked in different key
areas. This process will involve: a Strategic and
Operational Assessment and a WCM Analysis and Report. PRiMEX
will then work with selected firms to implement and adopt
the appropriate WCM Improvement Program such as
Revised Strategic Plans, Lean Enterprise (Training and
Implementation), ISO 9000 (Compliance and/or Certification),
Value Stream Mapping, costs reduction, and other process
improvement activities that will formally mark a milestone
on the road to becoming a World Class Manufacturer.
The program is designed to unlock the potential of local
firms and strengthen the Island’s manufacturing sector
specifically the Biotechnology, Pharmaceutical, Medical
Devices, Electronics, Rubber and Plastics, Metal Products,
and Food Processing and Distribution clusters.
By providing financial assistance, PRiMEX, the EDA and other
program supporters facilitate addressing the challenge for
performance, quality and innovation. Local manufacturers
must redefine their manufacturing strategy, align operations
and workforce to current competitive priorities and
create operating capabilities for the future.
Strengthening, retaining and expanding Puerto Rico’s
existing businesses is the goal of Puerto Rico’s First
World-Class Manufacturing Challenge – is your firm up to the
challenge?
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