How Lief Labs Evolved Their Business Model to Increase Growth and Enhance Services
The following summary is from an Association for Corporate Growth (ACG) GrowthTV episode featuring Helder Guimaraes, CFO of Lief Labs, a state-of-the-art manufacturer of vitamins and supplements based in Valencia, California.
Lief Labs has evolved their business model, emphasizing the importance of using technology to help them grow and thrive in the nutraceutical industry. Founded 13 years ago as a contract manufacturer, Lief has become a premier innovator and full-service operation with services in manufacturing, quality control, research and development, and branding. This evolution from primarily focusing on contract manufacturing to offering a suite of services has resulted in Lief averaging annual growth rates of 40% within the last 3 years.
Leveraging Technology to Support Growth
As a technology company at heart, Lief initially developed a proprietary system to serve as its in-house ERP and order processing solution. While this worked at first, their changing business model required them to upgrade to a more robust system, so the company selected SAP Business ByDesign. With this strong digital core as the foundation for its business, Lief was able to focus on adding more functionality to their tech stack, such as a customer portal, quality and compliance systems, and a document repository. Implementing technology has been an integral part of aligning their teams and scaling the business, especially since Lief has customers across the globe that require different regulatory requirements and logistics. They have been on a journey to expand their reach for years and have now found success with the right system.
Overcoming Challenges & Roadblocks
Initially, the biggest challenge Lief faced was data management, which is an extremely common issue to many clients looking to invest in technology. When dealing with a large project such as Lief’s, it was important to focus on which requirements were important for day one and to create a plan to slowly add in additional functionality in phases.
Lief needed a partner that understood their growth trajectory and who had the ability to pivot as their priorities and requirements changed over time. With the help of VistaVu Solutions, Lief broke down their technology deployment into a three-phase strategy to minimize disruption. A flexible implementation policy was maintained, with open and honest communication around how to resolve issues and mitigate risk.
What’s Helder’s advice for companies who are looking for a partner to help with their technology transformation?
Helder suggests, “If you have multiple challenges and not all eyes focused on one project, it’s important to know that your partner is going to be there for you, be flexible, and help you plan a realistic deployment with all your dreams and needs.”
If you’re looking for a partner to help support your technology investments or provide recommendations on how to augment your existing tech stack, reach out to our team.
To watch the recorded GrowthTV episode ‘Managing Explosive Demand in the Rapidly Growing Nutraceutical Industry with Technology,’ click here.