Snap-On Tools is a major international manufacturer and distributor of high-end professional tools and diagnostic equipment used in the automotive and transportation industries. Snap-On Tools operates five US manufacturing plants and supplies products all over the world – earning $3.5 billion in revenue, annually.
Lean Strategy Results in 450% Growth & a Global Footprint.
After learning about lean manufacturing concepts and the Danaher method, senior leaders at Snap-On Tools were eager to implement the kind of business process improvements that would lead to efficient production, improved profitability, and reinvestment to move their global enterprise forward. LNA consultants were brought in to help implement strategic initiatives and develop internal teams so lean tactics could spread throughout their operations. After long-term investment in lean strategy, the success of those initiatives is clear – resulting in 450% stock growth, acquisition of several competitors, and recognition as one of the US’s top plants.
Snap-On Tools was a successful global enterprise with a long-standing tradition of quality. However, business leaders knew they could always be more profitable and efficient. Executives wanted to free up capital to invest in growing their business and expand to more international markets. Seeking to streamline manufacturing, LNA consultants were brought in to disperse the strategic initiative among Snap-On’s internal teams and implement lean methods throughout their manufacturing processes. Initiating change within such a large and established company presented challenges. As a global company, locations and teams were spread out – implementing new strategies across their workforce of 12,000 employees would take time, training, and careful planning.
Acquisitions of competing firms
+ 0 %
Stock price growth over 20 years
$ 0 Billion
Annual revenue achieved
Laying The Foundation For Lasting Success
Together, LNA’s consultants and the Snap-On team began to implement the new Snap-On Business Process. While company executives focused on formulating the broad strategic plan, LNA consultants used their deep expertise in lean manufacturing to develop specific processes that would be implemented in each location. All stakeholders knew that they were in this for the long haul and that grand change does not happen overnight. With a steady, thorough, and detailed commitment to continuous improvement, Snap-On tools was able to achieve noticeable improvement that allowed them to continue to comfortably grow into the global powerhouse that it is today.
“Their team got the fact that it’s not always instant gratification; the little things start to add up. For lean manufacturing, people like LNA are needed. They have to really get the executive team aligned to the ultimate goal. We’re in this as a journey.”
— VP of Corporate Development & Planning
Long-Lasting, Sustained Results
Since beginning work over 20 years ago, corporate stock prices have more than quadrupled. The company has acquired 5 competitors and have expanded operations internationally. Their North Carolina plant was recently named as one of the top 10 plants in North America. Currently, the company achieves over $3.5 billion in annual revenue. For all their success, company leaders still acknowledge the fact that more work remains to be done, and that improvements can always be made. The Snap-On team remains committed to enhancing their success using the foundation of lean methods laid out by LNA’s consultants and reinvesting in their company to bring about more profits into the future.