Rockford Components was founded in 1978 and grew to become the UK’s largest independent provider of wiring, interconnect and system solutions for the defence, aerospace, marine and nuclear industries.
The challenge
Rockford’s growth plateaued and was impacted by customer programme delays, so they sought help from Sharing in Growth. The company’s ambition was to grow its existing market share, move into new markets and expand its export footprint.
With Sharing in Growth’s support, the company has completely transformed its business and secured £230 million in new contracts, of which 90% are for export. This has created around 100 jobs.
The company now employs 243 people at three sites, has a venture in Abu Dhabi, and is on track to hit its target annual turnover of £240 million – half from existing products and half from developing a new business stream.
the solution
Working with Sharing in Growth, Rockford identified a new vision, mission and values. The mission was to lead the business through design innovation, people development and improved efficiency, delivering growth by investing in our future and solving our customers’ problems with cost-effective solutions and excellent service.
A business plan was then developed, communicated and implemented, which focused on:
- Growth: market definition, business development, finance and commercial control
- People: multi-skilling, development, communication, engagement and empowerment
- Design innovation: core competencies, new product introduction (NPI) and research support
- Efficiency: planning, operation improvements, purchasing and floor space utilisation
The plan required a realignment of organisational structure and a fundamental culture change from a controlling environment to one in which staff were fully engaged in driving for shared success.
There was also significant investment in people with management and staff development, including Effective Lean Leadership Behaviours and Business Improvement Techniques NVQs. And processes were developed, including the introduction of key performance indicators, particularly to understand performance and cost, and of model cells to improve cycle time and productivity.
The Sharing in Growth programme includes access to expertise not normally affordable for smaller firms. Deloitte provided support on financial de-risking on a major bid covering sales projection, costs and support the customer which demonstrated that Rockford could handle the contract. This, along with an improved NPI and manpower planning process, now underpins every bid and has helped win business.
THE RESULTS
Sharing in Growth’s support has enabled Rockford to:
- Reduce costs, improve competitiveness and drive up sales win rate
- Increase sales by 60%
- Create 100 jobs
- Drive employee engagement up by 20%
- Improve productivity by 25%
- Reduce cell cycle time by more than 60%
- Secure £30 million in contracts
- Be awarded the Sharing in Growth Award for Inspire
“Since the start of our partnership, the support of Sharing in Growth has helped Rockford to develop our business significantly, transform our culture, create a farsighted strategy and deliver operational performance in line with world-class practices. As a result, we have secured c. £30 million in contracts and grown our workforce by 50%.”
PETER LION
MANAGING DIRECTOR
Click on the brochure image to view our interactive brochure and download
