Richard BingSenior Executive

Rich Bing specializes in consulting with senior managers to analyze business issues, identify specific opportunities, and develop and implement permanent process changes. Rich has been involved in a broad range of business conditions including manufacturing, logistics, procurement, IT strategies, and senior executive management. He has also participated in a number of small business advisory boards in the Dayton Ohio area. Although operations are a major focus for Rich, he has worked with a number of non-manufacturing companies in software development, home healthcare, and professional dental practices.

 

Rich recently consulted with WebCore Technologies, LLC and focused on the development of key systems in all operational areas including product realization, operational planning, factory scheduling, material sourcing, product costing, inventory management, cap-X management, basic SPC techniques, and quality management including ISO 9001 and GL registration. He helped WebCore evolve from an engineering and research focused company to a designer and manufacturer of composite solutions for the rapidly growing wind power market. As a result, WebCore was able to reduce their product costs by 50%, reduce inventory investment by 70%, and achieve 100% on time delivery while doubling their shipments.

 

Rich was previously President of the Dayco Industrial Division, a $700 million dollar industrial manufacturing company with 4,000 associates operating 19 facilities in 13 countries operating as a subsidiary of Mark IV Industries, a $2 billion dollar publically traded company.

 

Under Rich’s leadership, Dayco focused on revenue growth and margin improvement while significantly improving customer satisfaction metrics. While achieving the above improvements, Dayco experienced reduced product costs and working capital usage. These improvements required a complete corporate overhaul, a revamping of the sales channels, new marketing strategies, a new distribution network, installation of an integrated ERP software package, factory expansions, factory consolidations, strategic acquisitions, and significant employee involvement initiatives.

 

In addition, as a Corporate Officer of Mark IV, Rich had the opportunity to work directly on many acquisitions and divestitures including the successful divestiture of the Dayco Industrial Division to three different strategic buyers. Rich has had the unique operations view of acquiring and integrating companies as well as the separation and divesting of large divisions.