On October 25, 2017, the Missouri Association of Manufacturers (MAM) announced the 2017 Made in Missouri Leadership Awards recipients. Kim Inman, MAM CEO stated that the award program honors companies and individuals in all segments of manufacturing that are shaping the future of the industry. Among the 13 recipients of various awards was SRC, the 2017 Member of the Year. This award honors SRC for taking an involved role in the support and growth of the association through business, events, education, resources and more. SRC was presented with the award at MAM's annual event in September of 2017.
On Tuesday, October 10, 2017, CNHi Remanufacturing was announced as the 2017 winners of the Owners' Cup at SRC's Year End Sales and Marketing high involvement planning meeting. The award is given annually to the SRC company playing the Great Game of Business at the highest level based on the rules established in each year's competition.
The Owners' Cup is a competition among the SRC divisions and joint ventures to see who is playing the Great Game of Business at the highest level. The goal of the Cup is for SRC to reflect on programs within the organization to help improve processes and open-book culture.
Throughout the yearly competition, divisions and JV's are scored on a number of categories: monthly forecast accuracy, Mini-Games, a huddle evaluation and final Owners' Cup presentations. Additionally, each division has the opportunity to receive points for sending a representative to monthly ownership culture meetings to share ideas across the organization.
This year, all the divisions and JV's played both competitively and impressively. The competition gets more intense each year as the divisions and JV's leverage their competitive spirit to continuously "Up their Game".
Want to know more about how the Great Game of Business works? Click here.
On August 15, 2017, Springfield Business Journal Editorial Director Eric Olson interviewed SRC Holdings Corporation CEO Jack Stack live at SBJ's 12 People You Need to Know. During the interview, Jack discussed open-book management, the Great Game of Business, and the changing workforce.
Attending the breakfast interview was Ellen Rohr, author and business consultant, who has been intrigued with Jack's business practices for years. An excerpt of her commentary from Springfield Business Journal can be found below:
Opinion: How to Create a Business of Businesspeople
The Jack Stack Interview
I became a fan in the 1990s, when I devoured a copy of Jack’s groundbreaking book, “The Great Game of Business.” I had been practicing open-book management. I just didn’t know that it was a thing and that it had a name. Jack, and that book, set me on a sound path of financial transparency and management that has served me – and millions of others – very well.
So, I jumped at the chance to hear him speak. Jack is a humble guy and would probably cringe at being called a celebrity. He is a businessman. His down-to-earth approach to building companies reveals his brilliance and his humanity. I was inspired personally and moved to share some of his wisdom with you. Here is what I gleaned from the interview with SBJ Editorial Director Eric Olson.
• Don’t look for skilled people – build people. Jack doesn’t complain about a labor shortage. Instead, at SRC, they look for creative, helpful ways to let people know the company is a positive force in their communities. They offer fun bring-kids-to-work events to turn children on to cool careers like engineering and fork lift operations. They magnetize good people and train them.
• Create businesspeople, not just technicians or skilled laborers. In addition to the skills team members need to do their jobs successfully, SRC requires that all employees learn business skills. They teach everyone how to read and use financial reports, and they share real financial data.
• Offer lifelong career opportunities. Back in the day, employees would stay at one job until retirement. The common belief these days is that those days are over. However, Jack has not given up on the idea that you can create lifelong careers. He suggests you can help people develop better work/life balance if they can settle into a career and commit to a company. Life is less stressful if you are not always looking for a new job.
• You can build a company to last. Jack shared that he and his employee/owners intend for SRC to last for at least 100 years. Over the years, there have been more than 60 companies under the SRC umbrella, all of which are employee-owned in some way.
Jack and team continually and strategically assess the economy and business trends. They are financially conservative and take the long look. They determine which companies they will grow and which to divest. They maintain the cash reserves they need to fund the employee/owners who plan to retire and transition their stock to cash.
However, they don’t have plans to sell the mother ship. SRC is designed to last 100-plus years even though some individual entities will not. The empire continues, while the holdings may change.
• Create a business of businesspeople. Jack stays focused on the ultimate goal at SRC: To create a “business of businesspeople” who think, act and feel like owners. At SRC, they operate with systems and procedures and play a great game. So, Jack allows the people on his team to do their jobs. He says the SRC conglomerate of businesses is a result of encouraging team members to become businesspeople. Once you do, they come up with ways to save money and make money, and before you know it, you are expanding.
Inspired? Me, too. It’s all about the people, people!
Find the full commentary and more information about Ellen Rohr here.
Kitting is the bundling of components per the Original Equipment Manufacturer's (OEM) specifications into a package to support the production line or aftermarket needs. NewStream Enterprises, a division of SRC, specializes in kitting, packaging and more.
BENEFITS OF KITTING
- Improved inventory turns
- Reduced number of SKU ‘s
- Reduced inventory on hand
- Improved throughput
- Custom kits for high-usage components
- Critical parts availability
Whether kitting for critical orders, fulfilling your rework needs, shipping direct to customers or supplying your distribution channel, NewStream leverages shared resources to provide cost-effective kitting solutions.
Find the full article at: NewStream Enterprises
On Saturday, September 23, 2017, the Drury Panthers and MSU Bears will face off in The Battle for Bell 2 Fall Baseball Classic at US Baseball Park in Ozark, Missouri. The event benefits Cox Health's ALS Clinic in honor of the late Howard Bell, long-time baseball coach at Glendale High School in Springfield, Missouri.
Event & Ticket Details
The event will begin at 5:00 pm with tailgating for students and fans. The game is set to start at 7:00 pm. A game jersey raffle, in-game prizes and promotional giveaways will add to the excitement of the night! General admission tickets may be purchased for $5 through US Baseball.
SRC thanks Drury, MSU, event sponsors and volunteers for making this event possible.
On Tuesday, August 22, the Greater Ozarks Centers for Advanced Professional Studies (GO CAPS) held its first class for the 2017-18 school year at SRC's location on East Division Street in Springfield, MIssouri. GO CAPS gives high school juniors and seniors a unique opportunity to learn about career path options before graduation. During the year-long program, students get a peak at the engineering, manufacturing, medicine and health care and technology industries while gaining real-world professional skills.
During the school year, the students not only meet five days a week in the SRC GO CAPS classroom, but are also given the opportunity to see first-hand what potential career paths look like. In September alone, the students will be touring CNH Industrial Reman's facilities, learn how to fill out professional job applications, speak with SRC professionals and more. Their instructors continually search for opportunities for the students to tour facilities and meet with local business partners.
This year, GO CAPS is serving 21 local students from the following area high schools: Branson, Strafford, Ozark, Republic, Nixa, Kickapo, Reeds Spring and Springfield Catholic. The students expressed that they are looking most forward to getting a better idea of the non-traditional career paths available to them and participating in hands-on projects.
The press release from SRC Logistics, Inc. reads:
SRC Logistics, Inc. (SRCL), an SRC Holdings Corporation company and a premier provider of third-party logistics, [on September 5, 2017,] announced a strategic partnership with JLG Industries Inc., an Oshkosh Corporation company [NYSE:OSK] and a leading global manufacturer of aerial work platforms and telehandlers. The partnership will help expand JLG’s remanufacturing program through both product expansion and a new core return and management process SRCL will manage.
SRCL will provide JLG and their customers with a best-in-class reverse logistics solution to generate core returns. The process includes an extensive and thorough inspection for every part that passes through SRCL’s core return system.
“SRC and JLG have a business history and partnership that continues to grow,” said Todd Hooper, senior director pricing & procurement, aftermarket at JLG Industries, Inc. “In 2014, they were remanufacturing generators for our aerial lifts but today we source many of our JLG® Reman OE-quality products from SRC including generators, actuators, starter, and alternators. Now, by using SRCL for our core management logistics, we’re taking our business relationship to another level.”
Together, SRCL and JLG will provide an easy, improved core management solution to JLG’s customers worldwide.
About JLG – JLG Industries, Inc. is the world's leading designer, manufacturer and marketer of access equipment. The Company's diverse product portfolio includes leading brands such as JLG® aerial work platforms; JLG, SkyTrak® and Lull® telehandlers; and an array of complementary accessories that increase the versatility and efficiency of these products. JLG is an Oshkosh Corporation company [NYSE: OSK].
About SRC Logistics – SRC Logistics, Inc. is a premier provider of third-party logistics services that specializes in reverse logistics related to the remanufacturing industry and core management. With over 30 years of experience, we have dedicated our business to helping OEMs sell more parts and whole goods through custom remanufacturing programs and core management assistance.
The SRC Community Relations Committee supports our local Ronald McDonald House of the Ozarks by aiding in the mission to provide a “home away from home”. As a group, they volunteer to provide meals for families quarterly.
The mission of Ronald McDonald House Charities® (RMHC®) is to create, find and support programs that directly improve the health and well-being of children in the Ozarks. Their first priority is to provide a "home away from home" for families when their seriously-ill or injured child is in a hospital far from home. Since 1988 their cornerstone project, the Ronald McDonald House®, has embraced more than 10,000 families during a time of unspeakable hardship.
About the Family Meals Program
Many of the parents and other family members at the Ronald McDonald House do not feel they can take the time to prepare adequate meals because it is additional time that they will be away from their sick child or infant. This being one of the most stressful situations they will ever endure makes it even more important to eat at least one good meal a day. Our “Family Dinner Program” allows families to relax and enjoy an evening meal at the Ronald McDonald House every night of the week, thanks to the generosity of many groups, businesses and individuals. These meals can be prepared at the House or brought in ready to eat. They can have a casual feel or the format of a sit-down dinner. It’s all up to the person or group involved in planning and preparing the meal. Would you be interested in adopting a Family Dinner Night at the Ronald McDonald House? This project not only allows you to do something outstanding to help others in need, but also gives you and your friends, family or fellow employees a fun and rewarding volunteer experience.
For more information about RMH and how you can get involved, visit the RHMC® website.
SRC will sponsor A Taste of Jazz in Springfield on September 7, 2017, to benefit FosterAdopt Connect of Southwest Missouri. The purpose of the event is to raise awareness and resources for FosterAdopt Connect's programs that serve both foster and adopted children and the families that care for them.
About FosterAdopt Connect SWMO
FosterAdopt Connect is a nonprofit organization in Springfield, Missouri, that serves families and children in the welfare system. Their mission is "to provide foster and adopted children a stable, loving and nurturing family environment by support and advocacy for abused and neglected children and the families caring for them." Since 2012, the organization has provided mental health and behavioral services to foster and adoptive families, helped adults transition from the foster system to adulthood, and more.
About A Taste of Jazz
A Taste of Jazz will be held on September 7, 2017 at The Venues in Springfield, Missouri. The event will include beer and wine tasting, food, a silent auction and jazz music. Generous donors have provided more than 80 items to be auctioned at the event. Tickets and sponsorship are available for purchase at FosterAdopt Connect's website.
SRC is honored to support FosterAdopt Connect and their mission to provide families and children with the stability and resources they need. Learn more about how you can support their cause at FosterAdopt Connect's website. #SRCgives
SRC is proud to support the mission of Convoy of Hope and its efforts to aid those recently affected by Hurricane Harvey. To show our support, we have made a $25,000 donation to the cause on behalf of the SRC companies and joint ventures.
The amount of destruction Harvey has caused has a huge financial impact on the individuals in its wake. We are honored to be able to aid in a time of tragedy to help individuals and communities rebuild.
Want to donate? You may do so through the Convoy of Hope website.
Want to volunteer? Convoy of Hope has a webpage dedicated to the Hurricane Harvey volunteer system. Visit its site for details.
About Convoy of Hope | Convoy of Hope was founded in 1994 by the Donaldson family. Their inspiration for starting the organization can be traced back to the many people who helped their family after their father, Harold, was killed by a drunk driver in 1969. Today, more than 80 million people have been served throughout the world by Convoy of Hope. We are proud that we work through churches, businesses, government agencies and other nonprofits to provide help and hope to those who are impoverished, hungry and hurting. Learn more at www.convoyofhope.org
For the past 18 years, the Springfield Business Journal has been honoring women from southwest Missouri for their accomplishments. This year, Candida Deckard, Director of Human Resources and Safety, at SRC's joint venture, CNH Industrial Remanufacturing, is being recognized. The women are honored for their careers, civic leadership and service by a panel of judges. A luncheon will be held on October 13 to honor the 20 women chosen this year.
We thank Candida for her hard work, passion and leadership in both at SRC and in the community!
To view the full list of honored women, see the article by SBJ.
SRC holds serving the community as such a high priority that it is not only listed in our 10-year plan, but it is listed first. Further, SRC associates answer the calls for help from the Springfield area on a personal level. Every month, the SRC Community Relations Committee (CRC) meets to discuss these calls for help from the community and develops strategies to fulfill these needs. The CRC's involvement with I Pour Life (IPL) is one of the CRC's many efforts to make a difference in our community.
SRC became involved with IPL when Julie Higgins, Executive Director of IPL, spoke to the CRC at their August 2016 meeting. At the time, IPL was in the process of on-boarding 33 students in their LifeStrengths program, a system that assists area marginalized and at-risk youth. The CRC recognized the need to help the teens learn life skills and sponsored a student for the year. SRC and IPL's relationship only grew from there.
One of the attendees at the meeting, Jill Gunzenhauser, an associate at SRC's joint venture, Ceramex North America, was moved by IPL's mission and wanted to contribute. She quickly became involved in the LifeStrengths program as the volunteer coordinator. Her involvement led to even more opportunities for SRC to support IPL's mission.
In August 2016, IPL had recently acquired a house for their LifeStrengths program, but it needed a lot of work. The kitchen had to be rebuilt from the floor up. Jill recognized this need and spoke about it to the CRC who agreed to answer the call. Jill even took it upon herself to help with the manual labor involved. Jill and SRC, along with countless other volunteers and donors, were able to create a gourmet style kitchen with amenities most teens have never been exposed to. Then in December, SRC adopted all 33 teens in the LifeStrengths program for Christmas. Each teen was provided the resources to give to a fellow program member to teach the importance of giving to others in the community.
SRC and IPL's relationship continues as Jill serves as an IPL volunteer and member of the SRC Community Relations Committee. Recently, Jill has started cooking classes for the youth of LifeStrengths which they call "local family". These classes show teens how to budget and cook nutrient-rich meals in order to sustain themselves.
We thank Julie Higgins and the IPL staff for their commitment to LifeCoaching at-risk youth in our community. We also thank the other supporters and donors for their assistance and Jill Gunzenhauser and all SRC associates for playing a vital role in #SRCgives.
Learn more about I Pour Life and how you can help.
This past summer, Logan Kunkel of Kickapoo High School and Westin Easley of Parkview High School participated in SRC's internship program at the Heavy Duty location. However, Kunkel and Easley were not your traditional interns.
Both Kunkel and Easley graduated high school this past year and were given the opportunity to join SRC's internship program without any college experience. This was possible through the Springfield Area Chamber of Commerce's Greater Ozarks Centers for Advanced Professional Studies (GO CAPS) Program. The yearlong program allows high school juniors and seniors to "test drive" different career path options and explore the business world before attending higher education. Through facility tours, guest speakers and job shadowing, Kunkel and Easley learned more about engineering and manufacturing than they could have ever imagined. "GO CAPS really gives kids the opportunity to test out the field they are wanting to go into and see if it's really something they want to do," stated Easley in an interview, "If it wasn't for GO CAPS, I would not have had this internship opportunity and not have the knowledge and drive I have today."
When Kunkel and Easley were offered the intern positions, they jumped on the opportunities. Easley served as an engineering intern in the turbo department while Kunkel served as a supply chain intern on the shop floor. Their colleagues were both grateful and impressed by their respect for others, desire to learn and willingness to work.
Both Kunkel and Easley learned invaluable lessons through both GO CAPS and SRC's internship program that cannot be found in any classroom. When asked about his experiences, Kunkel told us what every teacher wants for their students, "I think I learned how to be an employee of a business [...] things like how to show up on time, work with other people, and be accountable for myself and others."
These young professionals are not stopping here, though. Kunkel will attend Oklahoma State University in the fall to begin studying mechanical and aerospace engineering. Easley plans to continue using the career development benefits at SRC. He plans to attend Ozarks Technical Community College and study general engineering while participating in SRC's tuition reimbursement program.
Want to join SRC's internship program? Learn more about SRC's career development opportunities.
Every year, the SRC family of companies searches for up-and-coming talent in college students. Recruiters attend career fairs and visit numerous area universities in an attempt to attract the youngest and brightest business men and women. This year, the students recruited went above and beyond in their duties while gaining real-world experience.
This summer, 21 interns joined the SRC team to bring new, innovative ideas to the table. The interns came from numerous universities and programs including Missouri State University, Missouri University of Science and Technology, Drury University, Springfield GO CAPS Program and more. The interns spanned across Springfield Remanufacturing Corp.'s Heavy Duty location, CNHi Remanufacturing, SRC Holdings, NewStream Enterprises in both Springfield and Joliet, Illiniois, and SRC Automotive and worked in the following departments: human resources, safety, engineering, supply chain, information technology, accounting and more.
During their summer at SRC, interns are taught the inner workings of the business including open-book management and financial literacy. They also meet with SRC founder and CEO, Jack Stack, and tour area SRC facilities to better understand the company's operations and business practices. Additionally, the interns are given the opportunity to network with each other outside their normal working hours at a Springfield Cardinals baseball game.
When asked about their expectations and experiences this summer, many of the interns gave similar answers: they had no idea what to expect, but were thankful they took the opportunity and see working with SRC in their futures. Peyton Stauffer, Accounting Intern at Springfield Remanufacturing Corp., stated, "I learned that it is best to work as a team, and that you will be able to work better with your coworkers if you show respect and work together." These interns made monumental impacts on SRC's operations by combining their new-age education with an outsider's opinion to increase efficiency and revenue.
SRC looks forward to hearing from our 2017 interns after graduation and recruiting new students for the program next year.
On the morning of August 15, SRC president and CEO, Jack Stack, served as the keynote speaker at Springfield Business Journal's (SBJ) 12 People You Need to Know. In the live interview by SBJ editor, Eric Olson, Jack spoke about the story of founding Springfield Remanufacturing Corporation and the development of the Great Game of Business. He shared his wisdom about adapting to the changing workforce climate and SRC's prediction and preparation for the next economic recession. When asked about his retirement, Jack explained that he isn't sure when, but his goal is to reach a $100 million balance sheet before he does.