Contract Electronics Manufacturer (CEM) Speedboard Assembly Services has closed its 2015-16 financial year with a turnover of £11.10m, up circa 20% on FY 2014-15. Moreover, FY 2014-15 was a record growth year for Speedboard, closing at £9.23m and up 24% on the previous year [£7.45m].
Together, these growth figures represent an increase in turnover of 49% over a two-year period.
Nick Fairhead, Speedboard’s Sales & Marketing Director, comments. “We’re delighted with this achievement, reflecting as it does how we’re outperforming most other CEMs.”
The reasons for Speedboard’s continued growth include new business wins and increased levels of work from existing customers, some of which have moved away from double-sourcing arrangements to make Speedboard their ‘virtual shop floor’. Fairhead adds: “Our customers are placing ever greater levels of trust in us and we’re doing more and more final assembly, packaging and, in some cases, shipping products directly to end-customers.”
Fairhead goes on to say the CEM is also constantly identifying where cost-savings can be made and where value can be added to Speedboard’s services. “For instance, and reinforcing our virtual shop floor model, we’re becoming far more involved in new product introductions and working with designers to feed our Design for Manufacture and Design for Test expertise into the product development lifecycle early on. By doing so, significant cost savings can be realised and aggressive time- and volume-to-market goals can be set and met.”
In order to ensure the growth of the company was achieved in a controlled fashion, Speedboard put in place a new company infrastructure. It included strengthening the CEM’s senior management team with the appointment of an Operations Director and a Supply Chain Director, as well as the formation of dedicated multi-disciplined Customer Support Teams.
“These changes have enabled us to provide higher levels of customer service in markets where end-customers expect greater flexibility and shorter lead times, expectations that place huge demands on the supply chain,” concludes Fairhead. “Speedboard has got it just right though. Proactive support through close collaborations, efficient supply chain management and the ability to react quickly to our customers’ requirements.”
For further information on Speedboard Assembly Services please visit: www.speedboard.co.uk