Sales Update
So far in 2023 we have experienced a above budget Q1, a slight softening in Q2, and in Q3 production demands have leveled with no sign of dropping any further. Q4 looks to be very similar to Q3 with the possibility of some production upticks. We certainly remain optimistic that 2023 will continue to be a good year for Lou-Rich.
Truck Driver Appreciation Week
Be sure to read the article on Truck Driver Appreciation Week. All the truck drivers that deliver material to and from Lou-Rich are key to our success. During this week we always try to recognize them and the value they bring to this organization.
Flex Work Schedule
After a successful trial through the summer, we are implementing our flex schedule full time for our supporting staff. This allows our employee owners to complete their work hours earlier in the week to enjoy either full days or half days on Fridays. This matches for supporting staff what the production team members have been working for the past two years.
Looking Forward
We are already almost 3/4ths of the way through 2023. That means we are already well underway with planning for 2024. Our budgeting process for the following year begins in August. Like most businesses, we what to first have a good handle on what we expect sales to be in the upcoming year so we can plan labor, resources, and CAPEX.
Lou-Rich has a wide range of customers, from small startup companies all the way to Fortune 500 businesses. While most of our customers provide us with good sales forecast visibility for planning, we still want to sit down with each of them and discuss their outlook on the upcoming year. We look forward to each of these meetings because we always enjoy our time with our customers. From these forecasts and meetings, we will compile all the information and create our annual sales budget. Looking at what we have so far in 2024, it looks to be another great year with many new projects and big demands for existing production.
Lee Gulbrandson
Lou-Rich GM
