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Project Infomation
In late 1995, a fire at Malden Mills put 3,000 union jobs at risk. The timing couldn’t have been worse. The 90-year-old manufacturer in Lawrence, Mass., has seen its revenues triple and employment double since emerging from bankruptcy in 1982. It’s popular Polartec and Polarfleece fabrics were one reason. A loyal and productive workforce was the other.
In a time when offshore manufacturing became standard procedure in American business, Malden Mills’ CEO Aaron Feuerstein opted to stay put and to rebuild his factory on the very site where his family had made textiles for 90 years.
- Client : Insight Studio
- Date : 20 Feb, 2018
- Skills : Project Planning
Challenge & Solution
The fire came just two weeks before Christmas, affecting employees both financially and emotionally. So just 2 days after the blaze, Feuerstein announced plans to pay his employees their full wages for 30 days. He would eventually extend that offer to 90 days for the paychecks, 180 days for benefits. Total cost to Malden Mills: $25 million.
Our Process
When students leave my classroom, few will work for principled managers like Aaron Feuerstein, the man they called the “Mensch of Malden Mills.” If there’s a silver lining to this story, it’s that Polartec remains a great product with a loyal customer base, including me. None of that may have occurred had Feuerstein not saved the day on Dec. 13, 1995.
01
Improve sales & operations & production planning
02
Determine the right inventory level
03
Optimize the supply chain for perfect order planning
04
Improve sales & operations & production planning
Result Driven
Sadly, Malden Mills didn’t turn out as such a classic case in employee relations. To me, it’s a depressing reality of business world that makes “maximizing shareholder value” its top priority. (Credit: toughsledding.wordpress.com)
