Mike Rasmussen
Strategic Advisor
 

Mike is a Strategic Advisor in the Profit Enhancement Solutions group, a division of Smith & Gesteland, LLP. He is a General Management and Operations Management Executive with 25+ years of success delivering superior results in business environments ranging from $10MM to $100MM.

In addition to his direct leadership roles, Mike led the 80/20 initiative where they trained on and implemented the 80/20 disciplines for the $1.5B Consumer Products segment of Illinois Tool Works (ITW).

During his eight year tenure at ITW, Mike held several leadership roles. Some of his accomplishments during that time include:

 

  • Transformation of a $240MM division with 14 manufacturing operations and three distribution facilities in 11 countries on four continents from a collection of individualized operations to a global team with a customer facing focus.
  •  Acquisition integration for three companies. Conducted business process training throughout the organization.
  •  Transformation of a $20MM company from a manufacturing orientation to an outsource and assemble model.
  •  Implementation of communication and training programs for factory personnel resulting in improved product quality and service.
  •  Management of strategic partnerships and long term agreements with major customers involving more than 90% of the revenue for a business unit
  •  Implementation of Six Sigma principles and superior field support establishing excellent customer relationships and operational performance.

Mike has had the benefit of implementing 80/20, consulting in 80/20, and providing training in 80/20 methodologies. This has resulted in exemplary achievements in revenue growth, cost containment, cost reduction, and productivity enhancement in single and multiple facility companies within the US and globally. He has been successful as a transformational leader, adept at heading restructuring, acquisition and integration initiatives while delivering increased efficiency and profitability. Some of the results Mike achieved include:

  • Over $3M annual operating savings.
  • A one-year 8 point increase in profitability for a $100MM company.
  • Transformation from an operating loss to a 12% operating income for a $20MM company.
  • 50% reduction in customer returns.
  • 30% reduction in scrap.
  • Tripling of revenue.

Mike’s most recent personal achievement is that he climbed Mt. Kilimanjaro in Tanzania, Africa.

Mike has a BS in Electrical Engineering from South Dakota School of Mines and Technology and an MBA from Drake University.

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