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Think Like an Owner
Jim Derry - “Culture is the lowest level of behavior you’ll tolerate” - EP.247
Oct 29, 2024
Jim Derry, former CEO of Field Fastener, shares his expertise from leading a $180 million business known for its unique vendor-managed inventory system. He dives into the significance of a measurable, data-driven culture and how it can set a company apart. Jim emphasizes the importance of values in shaping corporate culture and addresses the unique challenges of managing a multi-generational family business. Notably, he quips, 'Culture is the lowest level of behavior you'll tolerate,' underlining the essential balance between performance and values.
54:39
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Quick takeaways
- Jim Derry emphasizes that maintaining a strong company culture is essential for attracting and retaining talent within an organization.
- The podcast discusses the strategies Field Fastener employs for ensuring its legacy as a successful multi-generational family business.
Deep dives
Innovative Inventory Management
Field Fastener operates on a unique vendor-managed inventory system that sets it apart from traditional distribution models. Instead of central warehousing, the company stocks fastener supplies directly at customer locations, facilitating a seamless supply chain for manufacturers. This approach not only saves clients time and money but also enhances their production efficiency by ensuring that essential materials are readily available. It exemplifies a tailored service that positions Field Fastener as a crucial partner in their clients' operations.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode