The Wood Education and Resource Center in Princeton, W.Va., held a workshop recently for wood products manufacturers interested in finding new business strategies that could grow sales and profits in the current economy.
The workshop sessions included a look at the current state of the industry and potential wood products used in U.S. construction and home furnishings. It covered business strategies that make sense for those wanting to grow sales and profits and understanding the financial controls needed to manage expenses and pay the bills on time.
It also includes strategies for finding new customers and markets, facilities and equipment, and also purchasing, finance and inventory management as well as new strategies for employees that are rewarding for both the company and the employee.
The attendees included a marketing agent who is planning to work with contract furniture manufacturers to make lower-priced bedroom furniture to replace imported products. There was also a metal working company owner who is starting a furniture line that is accented with metal, a cabinet manufacturer who is looking to opportunities to make his offerings more unique, a sheltered workshop that wanted ideas to help identify new potential customers, a pallet manufacturer looking for new management strategies that can increase effectiveness and others who were looking for new ideas to raise the performance of their company.
Workshop speakers included Harry Watt, Joe Denig and Phil Mitchell of North Carolina State University’s Wood Products Extension Department. It was co-sponsored by Woodshop News.
The workshop slide shows and handouts are available as PDF downloads at the U.S. Forest Service Wood Education Center Education Grant Project website at www.cnr.ncsu.edu/woodworkshops.