TOCICO

In this presentation, Ian Visser, ex-CEO of Premier Foods, and Dr. Alan Barnard, Premier Foods Viable Vision Project Auditor and CEO of Goldratt Research Labs, will share, not just the successes, but also the insights gained from these success as well as (in hindsight), from the avoidable failures and delays experienced during Premier Food’s Viable Vision journey. Premier Foods was established in 1852 and is one of South Africa's leading staple foods producers. Its main activity is the milling, marketing, selling and distribution of branded maize and flour products as well as the branding, marketing, selling and distribution of bread. Premier Foods makes 30,000 deliveries a day across South Africa feeds 10 million people a day. In 2004, Premier Foods was in dire straits. In the previous year, it had a record loss of 10% of its revenues. Shortly after Ian Visser was appointed as CEO in 2004, they embarked on their Viable Vision journey. Ian and his executive team worked closely with Dr. Eli Goldratt and Dr. Alan Barnard to design and implement a profitable growth turnaround strategy. The operations and supply chain performance was improved using TOC principles, risk was dramatically reduced and the company turned around. Combined with a series of innovatively financed transactions, ordinary shareholders realised a 7000% return on capital from then to July 2012. That was higher than any company listed on the Johannesburg Stock Exchange over this time period. Video length: . PDF: slides.