Colum SheridanOperations Manager, Lake Region Medical

Our Shingo JourneyBronze Medallion Recipient 2012

AGENDA

Introduction

History of Lake Region Medical

Outline challenges the Irish plant faced in 2003

Fast forward to 2014

Share some personal highlights from Shingo Journey

Questions?

Founded 1947 by Mr. Joseph Fleischhacker with $400.

Primary focus - fishing lures & tackle.

Started in a renovated chicken house behind the family home.

Medtronic - Pacing lead coil which brought us into medical devices.

Remained a family owned ODM company until acquired by Accellent in

March 2014

COMPANY HISTORY

CHALLENGES FACED IN 2003

Very narrow customer base Shipping <1M guide wires Competition from low cost economies

80% of our guides sold to USA 2002: €1.06 per dollar 2014: €0.76 per dollar

While absorbing increases in:Wages averaging of 25%Raw materials of 15% Energy costs of over 75%

2014

€0.76

LAKE REGION MEDICAL IRELAND 2014

Shipping >30m devices to >150 Customers in >50 countries

750 Employees, 150,000sq foot facility, 10 Acre campus

International Research & Development Centre in Galway

June 2012, First European Medical

Device company to achieve Shingo

accreditation. Irish Med Tech Company

of the Year

March 2014 Acquired by Accellent

LRM New Ross Strategy

SAFETY FIRST

LRM New Ross Strategy

“Are We Winning or Losing?”

‘The What’

‘The How’

Enterprise Excellence Capabilities Fully resourced C.I. team

Continuously developing internal expertise;

10 Employees MSc in Lean / Change Management

11 Six Sigma Green / Black Belts

2 Planned for Shingo Examiner Training – March 2015

20 Trained in C.I. In Manufacturing to National Qualification *

>300 Trained in Scientific Problem Solving *

Ongoing VSM and Industrial Engineering Training *

Lean Fundamentals for all Employees *

* Training delivered in-house

May is “Shingo Month”

Charity Fundraising Events

“To be the best we can”

Capturing the Hearts & Minds...

QUESTIONS?