Business View Magazine - July 2024

company’s growth. However, the ESOP culture is only the foundation here, the specific things that move OSP’s sales and revenue along have more to do with its operational strategies. THE REBIRTH OF THE OSP REVENUE MODEL Like many businesses, OSP faced challenges during the COVID-19 pandemic, including talent retention and maintaining work skill proficiency. However, unlike many businesses, OSP’s leadership saw the nationwide pause as an opportunity to evolve its operations rather than just endure. Part of that evolution involves a shift towards newer technology. “We added some new,modern equipment that allows us more flexibility to go after some different types of business that, historically, would not have been practical for this company,” Haag explains. Investing in modern equipment and technology, such as live tool milling, has streamlined the OSP processes and opened up newbusiness opportunities, but what’s most interesting about the approach is that many of the parts are not new. The second part of OSP’s evolution has involved identifying the older, more specialized production methods that still hold value even in the face of new manufacturing technologies. With this, the company has expanded its capabilities while preserving the older methods many others have dropped as they modernize. In short, this means that other companies won’t be able to close the skill gap that only OSP will be able to fill in the future when it comes to manufacturing specialized parts. So internally, the plan is simple, refine the process and expand. However, externally, the OSP strategy leverages relationships more than it does processes. The company maintains partnerships with key vendors and suppliers to ensure a smooth supply 95 BUSINESS VIEW MAGAZINE VOLUME 11, ISSUE 07 OHIO SCREW PRODUCTS INC.