Peter Doyle 0:04
Hey, let's get our blood flowing a little bit. Raise your hand if you are an innovator. Okay, raise your hand if you're a strategic. Raise your hand if you're an investor. All right, raise your hand if you wish you were an investor. Maybe you're just ready for lunch. Hey, I'm Peter Doyle. I am your session leader for the next hour to introduce five talented executives and their ideas. I'm also the president and CEO of Hirsch precision. We are a rapidly growing medical manufacturing company that helps strategics and innovators scale their products and commercialize them. I want to tell you a quick story that helps illustrate how you can work with us and our culture. We worked with a strategic company. This is a true story. By the way. The names have been changed to protect the innocent, but hopefully it's valuable. We worked with strategic who knew they needed to innovate. They came up with a great idea that would unlock a billion dollars in revenue annually through a proven business model of capital equipment and disposables. Every day, there was an energetic engineering team that prototyped until they were happy with the design. The sales team began to market the product and large pre orders began to come in. And a manufacturing partner out of the country was procured to scale up assembly and testing. production orders were sent out. And as assembly began to happen, the parts came in. And the contract manufacturing partner put it together. And it didn't work. It was a tough moment, a lot of talented, hard working people had spent a lot of energy, making that Project Reality. And when the parts came together. Ultimately, they weren't producible. One of the people deployed in the strategic to fix this situation was a senior engineer, who will come up with the name of Gary. And as Gary worked with the contract manufacturer, he determined that the yield was not what they'd anticipated. Several of the critical medical components had a 0% yield. Which brings me to highlight the first time that a strategic and innovator should contact our company is during design. During the design phase, only 4% of a product's lifetime cost is incurred. But the decisions that are made during the design phase determined 75% of that product's lifetime cost. When you call Hersh, we can help inform you on what the drivers of technical complexity are from a manufacturing standpoint, we can help you design a component to take advantages of the most of the economies of scale across different manufacturing processes throughout that product's life. So you don't have to incur significant redesigns down the road. So back to Gary, what was he to do? He called Hirsch and we jumped into action. Within six months, we opened a new facility deployed 4 million in new capital equipment, trained and equipped a team to correct the problem and brought the yield effectively up to 100%. It highlights our culture, our agility or engagement. We have over 1000 years of manufacturing experience at Hersh. The second point that I want to make is that there's a gap, a known gap between the very early prototypes of product design and full scale production. And that's where Hirsch precision sits. If you need 50 or 500 or 5000 parts a month. That's the right solution for us. We bridge from those early prototypes into full scale production. That's a unique offering. We continue to acquire and integrate new capabilities versus 45 years young and continues to grow. We would love to stay in touch and partner with you. We'd like to to stay in touch please feel free to scan the QR code
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