S03E07 | The Marubeni-Itochu takeover of BM Steel

The Metal Guys Talk Business

Host: Pete Comerford

Guest: Kyle Greenwood, CEO of BM Steel

Episode Title: The Marubeni-Itochu takeover of BM Steel

Release Date: July 23rd, 2024

Episode Summary:

In this episode, Kyle Greenwood, CEO of BM Steels, joins Pete (One-half of The Metal Guys) to discuss various topics crucial for modern businesses. From the integration of acquisitions and the benefits of centralised systems to the importance of carbon reporting and the challenges posed by economic fluctuations, Kyle shares his expert insights and experiences.

Key Topics Covered:

1. Integrating Acquisitions:
   • Kyle discusses the challenges and strategies of integrating companies like IBM into BM Steel.
   • The benefits of centralised purchasing and credit control in improving operational efficiencies.
   • Experiences in pushing high-margin products and turning around suboptimal businesses using lean manufacturing and Six Sigma principles.
2. Carbon Reporting and Energy Monitoring:
   • The significance of carbon reporting and benchmarking suppliers' carbon footprints.
   • Investments in energy monitoring software to optimise energy consumption.
   • Preparations for future legislation on carbon reporting and the company's ethical responsibility towards the environment.
3. Economic Challenges and Business Resilience:
   • The impact of high inflation and energy costs on business overheads.
   • Strategies for offering inflationary salary increases to retain talent.
   • Potential challenges in the upcoming year and the importance of running a well-managed business.
   • Leveraging business and strategy plans to identify future opportunities.
4. Enhancing Depot Operations through Data:
   • Attribution of website sales to depots to encourage engagement.
   • Stocking new products based on website data to improve service offerings.
   • Insights from Kyle's extensive experience in the steel industry and the importance of consistent, systematic decision-making.
5. Customer Feedback and Business Improvement:
   • The role of customer feedback surveys in identifying gaps in products and services.
   • Being forward-thinking in planning for future opportunities and improvements.
   • Emphasis on data-driven decisions to enhance business performance and customer satisfaction.
6. E-commerce and Expanding Customer Base:
   • The transition from B2B to B2C with the launch of an e-commerce site.
   • Attracting new customer segments and the continuous addition of new products.
   • The potential of serving customers during non-business hours to capitalize on unmet demand.

Learn more about BM Steels here

Connect with Kyle Greenwood on LinkedIn

SEASON THREE of The Metal Guys Talk Business is sponsored by:

SteelBuy - SteelBuy is a digital platform revolutionising the way businesses trade metal products online.

TW Metals - TW Metlas is a stockholder and distributor of Nickel Alloy, Aluminium, Titanium and Stainless Steel products in a range of forms including Tube, Bar, Pipe, EXtrusion as well as Sheets and Plates.

Comton Group - A recruitment agency powering employment in the Metal, Manufacturing, and Engineering sectors.

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The Metal Guys Talk Business is created and produced by Comton Group.

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