Headquartered in Indianapolis, Indiana, we serve the specialty chemicals industry with locations in the heart of manufacturing hubs in the U.S. and Europe. We produce a variety of solvents, intermediates, specialty fuels, and other specialty products, as well as offer industry-leading Custom Manufacturing services.
5 Tips for Boosting Agility on a Tricky “Race Track”
October 30th, 2020
If the Monument team could pick a specific sound to associate with the year 2020, it would be the loud clamor of a race car pealing around the track – maybe even the Indy 500! It’s the noise of an engine working to its max. The squeal of tires on tight turns. And while the concept of speed isn’t a new one in our industry, today’s “race track” is much more challenging for all of us. It’s a track that’s constantly changing – with unanticipated twists and turns on every lap.
At Monument, our commitment to flexibility has served us well on this race track, but the word we’re using a lot these days is Agility, which is the output of Flexibility + Unprecedented Speed. Our commitment to boosting and practicing our skills in agility has led to several big wins with customers. As an example, we were able to stay operational even in the earliest days of the pandemic to support existing and new customers, the industry, and the global supply chain – with a notable effort being our ramp-up of IPA and ethanol for critical hand sanitizing products.
Given the increased importance of agility in today’s world, we know it’s critical to be aware of the things we’re doing to grow agility in every function and team – so that we can keep doing them – and even build on those wins to keep our “wheels” as nimble and healthy as possible.
And since we’re always up for sharing our experiences to keep our customers and partners on top of their game as well, here are five key tips for keeping agility front and center in this unforgettable year. (And likely well beyond!)
1. A Customer-Centric Mindset is Critical
The needs of our customers – both the customers we serve directly and the consumers they sell to – are in a constant state of flux. Therefore, customizing the solutions and services we offer is critical as demands continue to evolve. This means closer (and more frequent) collaboration with customers to learn more about their changing needs, as well as developing new ways of working together in this increasingly virtual world to deliver much-needed solutions.
Now is a great time to educate your customers, suppliers, distributors, and other partners about everything your company has to offer, and new technologies or applications you’re exploring. For example, the Monument team had been investigating new ways to refine ethanol to higher purity and accelerated this to meet a customer’s demand for a fully formulated hand sanitizer product.
“We saw a surge in demand for cleaning and sanitizing products the first half of the year and began to ramp up production of isopropyl alcohol (IPA),” said Sarves Peri, Vice President of Global Supply Chain. “However, the raw materials needed to produce IPA are in high demand, so increasing the overall global supply of disinfecting agents with other active ingredients – such as ethanol – was critical to being able to meet our customers’ evolving needs.”
2. Embracing the Power of Technology is Essential
With many of us working from home and staying connected with family and friends virtually, a willingness to adapt to new technology is likely at an all-time high. If your company hasn’t already investigated technology options that enhance the work you do and boost productivity, now is a great time to do so.
Despite not being able to connect in person as frequently, Monument has been able to continue meeting customers’ needs, thanks to having access to the latest collaboration technologies and tools.
“The COVID-19 environment has definitely changed the way we do business, but we had already been shifting our approach to engage with customers more with virtual solutions. Having the right tools in place, such as a videoconferencing platform, meant we didn’t lose any momentum,” said Andy Allen, Senior Account Manager.
The use of collaboration tools doesn’t need to be limited to interacting with customers – it can benefit your organization as well. “Our success is a function of how well our plants are able to run around the world,” said Sibel Selcuk, Vice President of Global Research & Development. “Regular check-in calls and the willingness of our employees to work together in new ways has enabled us to get to know each other on a more personal level. And this has led to a deeper sense of teamwork and a shared commitment to maintaining the agility customers associate with Monument.”
3. There are Always Ways to Work Smarter
We’ve all heard the phrase, “Work smarter, not harder.” With new challenges at both work and home, it’s inevitable that we’re all working harder these days – and that’s why it’s even more important to make sure we are also working smarter than ever before. There are tons of tips out there for doing just that, but here are some of our favorites…
- Focus on your strengths. While shoring up business-critical weaknesses is a must, much of your attention should be centered on doing what you do best.
- Lean into market trends. This means doing what you do best where it makes the most sense – and these days, that target might be a moving one. At Monument, for example, we saw a demand decline in coatings and transportation and a demand increase in essential industries like personal care, electronics, pharma, etc. Our organization worked together to pivot on very short notice to meet the demand where it was needed most. Similarly, our Haltermann Solutions team was quick to act when they saw a downturn begin in the global automotive market last year, along with declining gas consumption. “We had to think differently to stay relevant,” said Don Phillips, Vice President of Haltermann Solutions. “We recognized these trends as red flags and were able to pivot and focus on accelerating our diesel strategy to stay ahead of the market.”
- Set clear objectives. Employees can work their best and smartest when they know what to prioritize and what their goals are. Function and team objectives should cascade from company objectives – so that all team members understand the role they play in the broader vision. Recognize employees who move the needle in each key area by sharing success stories with the full team.
4. Keep Your Values Front and Center
Safety and quality. Flexibility. Cooperative, collaborative relationships. Responsiveness. Technical excellence and expertise. Integrity.
These are more than just lofty corporate buzzwords. They’re core values for Monument – as well as many others in our industry – and we’re proud that our employees have exemplified these values through our challenges as we’ve responded to changing market needs and adjusted how we do business to keep employees and customers safe.
It’s more critical than ever that we keep those values front and center – and share stories of how we’re living those values – and use them as a guide to remain true to all of our commitments. For example, responsiveness (speed) is a core value for Monument, but so is integrity. This means we won’t rush to offer customers new solutions just for the sake of being first – we’ll take the time to do things right because the safety and health of our employees is our top priority.
5. Build a Strong Sense of Community
At the end of the day, the work we do and the products we make are all about helping people – your customers are our families, friends, and neighbors. From high-purity hand sanitizer and disinfecting wipes to scrub gowns and masks, the pandemic has helped create a greater sense of togetherness as we work to keep each other safe from the common enemy that is COVID-19.
We have a long-standing commitment to being a strong supporter of the communities where we work and live, and it’s inspiring to see so many others – including our customers – doing the same during these challenging times. There are examples of communities coming together to lift each other up everywhere you look, which might be one of the best things to come out of the pandemic.
Strengthening your community doesn’t have to mean focusing on financial resources. Maybe it’s sharing a list of websites and learning resources with employees to help their kids to stay engaged after school or between online classes, or hosting a “Lunch & Learn” session over Zoom to provide more information on a topic that’s important in your area.
It might also mean sharing resources with your industry partners. As an example, Monument participated on a SOCMA panel discussion in the spring to exchange ideas and best operational practices on topics like safety of staff and processes, plans for lock-in or shelter in place, and innovative ideas to reduce operational impacts. By creating new connections across the value chain, we believe all of us will emerge stronger.
The most agile organizations trust and rely on each other, and their open lines of communication mean it’s easier to reach out and partner when needed. As the saying goes, “Many hands make light work.” And as we prepare to approach the final laps of the year, having a strong community can make all of the tips listed above – and more – easier to accomplish.
_____________________________________________
We may not always have control over the ever-changing “race track” of today, but we can definitely control the agility of our “race cars.” We hope you take the time to recognize your wins and growth in these incredibly challenging times – and reflect on the agility-building tips and efforts that are working for you.
In the meantime, we’re here to help you navigate your unique “twists and turns” with more ease – so keep bringing the Monument team your toughest challenges.