Established in 1967, Alcester, SD-based Custom Coils produces custom magnetic components like transformers, inductors and coils for more than 140 active customers. Custom Coils has a reputation of providing exceptional, personalized service to its customers, ensuring that its top management visits with every customer.
As a small company competing in an increasingly global economy, we have been able to translate this customer focus into an important competitive advantage. Below are two examples of how we have been able to respond to customer needs – in one case by addressing back-office requirements and in another by handling rush orders - to drive more value for ourselves and the customer. While these types of instances can bring challenges and resistance to change, they generally result in a win-win for us and the customer.
Saying yes to customer e-invoicing requests
One of Custom Coil’s largest customers was implementing OB10 e-Invoicing to enable supplier invoices to be transmitted electronically into the customer’s ERP. Custom Coils agreed to join the OB10 network to submit invoices electronically and have them automatically matched and validated against the purchase order.
While at first we were concerned what this would mean for us, with the help of OB10, the transition from paper invoicing to a more streamlined and efficient submission process meant less time chasing down invoices and contacting the customer to determine whether invoices had been received. The full implementation was completed in a reasonable period of time and has significantly streamlined invoice payment. As a result, Custom Coils has been able to drastically reduce the amount of time spent calling on misplaced or past-due invoices and enabled our client to implement a more cost-effective accounts payable process.
Rapid response secures new business
In another case, we crossed paths with two companies who had been using a Chinese-based custom coil manufacturer who suddenly went out of business. The two companies were in a bind and needed an alternative provider fast.
In order to keep their plants up and running, we had to dramatically shorten our traditional timeframe for designing and creating custom products. While this required us to rethink our internal process and re-prioritize other projects, in the end we managed to meet the complex requirements on schedule and satisfy these two new customers. What started off as a last-minute job ended up being a doorway to two new customers providing ongoing business to Custom Coils.
Nobody likes change, but we often find that by adapting to customer requirements we find new ways to create value for ourselves and the customer. By making this part of our DNA, we have been able create a competitive advantage in an increasingly competitive marketplace.
GT Stepp is Purchasing Manager at Custom Coils, custom provider of magnetic components to over 140 customers nationally. |
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