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Growing a global enterprise
SCOTT Smith assumed the role of chief executive officer at Beyonics in July last year, bringing with him over 30 years of experience in the technology sector. He has held leadership roles in sales, marketing, and operations with Fortune 500 companies including Canadian electronics manufacturing services provider Celestica, Chinese technology manufacturer Lenovo and global information technology provider IBM in the United States, Europe and in Asia.
Prior to Beyonics, Mr Smith was the executive vice-president and chief commercial officer at Moduslink, a global supply chain services company. He holds a Bachelor of Science degree from Clarkson University in New York.
Mr Smith believes his past positions have all been building blocks to prepare him to be the CEO of Beyonics, a Singapore-based precision manufacturer.
The big idea of vertical integration at Beyonics is what attracts Mr Smith to his current role. "You need head, heart and guts," he says. "Consistency fails business eventually, you need adaptability, flexibility, and capability of making changes quickly. Someone reports weather, someone makes weather. I am a firm believer in making my own weather."
He noted that the vertical integration of the company's core competencies - including aluminium die casting, plastic injection molding, precision metal stamping, and printed circuit board assembly - is not common elsewhere in the industry.
"This is an opportunity to really bring a different value proposition to clients: by eliminating many of the costs associated with distribution and logistics, simplifying their supply chain, and offering a one-stop shopping solution for anything from piece parts to the entire box build of any products in our primary business sectors: the automotive, medical, industrial, and high-end consumer electronics industry," he says.
Beyonics is one of the region's leading precision parts manufacturers offering complex integrated manufacturing services such as precision metal stamping, innovative mold design and fabrication capabilities, leading precision plastic injection molding, aluminium die casting and machining, electronics sub-assembly, and complete product manufacturing.
Headquartered in Singapore, Beyonics has a combined workforce of over 5,000 staff across 10 factories located in Singapore, China, Malaysia, and Thailand, and seven global sales locations.
Beyonics is working towards constructing three vertically integrated mega campuses: in Singapore, Malaysia, and China, along with four satellite facilities; in Kota Tinggi, Malaysia; in Wuxi and Dongguan, China; and Chonburi, Thailand, which is built to replace its existing facility in Ayutthaya, Thailand.
"We've invested in two major building initiatives. One is here at our Singapore head office, where we're erecting a new 21,368 square metre facility that will combine our four Singapore factories into one. Beyond Singapore, we have expanded our operations in Johor Baru's i-Park in Malaysia, adding another 12,000 square metres to our plastic injection molding capabilities," Mr Smith says.
"We're also erecting a new building for stamping on the same i-Park site. By then, our facility in Johor Baru will be approaching 46,500 square metres. It will become a mega campus where we can proudly display all of our capabilities, including complete box build. Furthermore, in Changshu, in China's Jiangsu province, we're creating a mirror image of our Malaysia operations."
He expects a 25 per cent growth across Beyonics' four core segments and is working to expand the company's client base in the region. This is also in line with the company's goal of achieving a 40 per cent increase in revenues from new business opportunities, particularly from automotive and medical industries.
Mr Smith is positive that merger and acquisition opportunities will help scale up Beyonics' operations worldwide. Last year, the company merged with Chosen Holdings, a company which specialises in plastic moulding. This union has given Beyonics well-enhanced plastic capabilities in addition to its existing molding capabilities, and reinforces Beyonics' position as an Asian-based precision-engineering leader.
"When we engage with a particular client, whether it's a new or an existing client, we work in a collaborative nature. We sit down with their engineers and really look at the design, making sure the design is optimised for manufacturability. That negotiation, or collaboration right up front is extremely important to us, because that's when we can make the product more efficient and more effective. This is what dictates cycle time improvement, automation, process optimisation, everything we do as a manufacturing organisation. We also need to align the interests of our customers with those of employees," says Mr Smith.
"People dictate the success of your company and you need to be surrounded by good people to make a greater business. The way you handle people is critically important," Mr Smith says. "Building the Vision, Mission and Core Values from the bottom up is much more meaningful and adoptable than a top-down directive."
Mr Smith has empowered his people by allowing them to decide on the core values they want most at their workplace, which is an uncommon practice in organisations. A group of Beyonics' floor leaders participated in a three-day workshop, creating the company's vision, mission and core values.
Apart from actively rolling out and participating in team bonding and social responsibility events, such as giving to a home for the aged and charity runs, Mr Smith has also implemented a reward structure which is held quarterly, as a form of compliment and recognition for his people. "We need to demonstrate that we care and we do things to embrace the entire Beyonics family," Mr Smith says.
With the new structure and direction, developments in Beyonics have moved along at a rapid pace. Mr Smith's proven leadership skills and broad experience in growing revenues is a vital asset to the company.
Beyonics is well-positioned to deliver integrated precision engineering solutions to existing and new clients. Working with the Beyonics team, he is committed to modernising all its manufacturing facilities to create industry leading campus operations, offering a unique market position to provide integrated manufacturing services.
Apart from utilising automated processes in its manufacturing, Beyonics has also invested heavily in information technology. It has developed a new website to educate the market on the capabilities of the company and the value it can offer industries and clients. Not only can the website be used as an educational and sales tool, it can continuously serve the company's customers online across various time zones.
Says Mr Smith: "The entire Beyonics team harbours an intense passion for excellence in every facet of operation, including: molding dynamic functional plastic components, producing creative printed circuit board assemblies, stamping the complex shapes of automotive sensors, and die-casting transmission valves to exact tolerances. These are the foundations upon which Beyonics will expand and grow stronger in the future."