Recently published in the June edition of the Manufacturers' Monthly, a look at how IDM's flexible and diverse approaches in product development and services has enabled us to meet customer needs.
The power of flexibility: a company’s strategy for growth
Manufacturers’ Monthly spoke to IDM Instruments managing director, Tommy Halmos, on how flexibility and diversity in product development and services has helped the company
meet customer needs.
THE latest report published by the Australian Manufacturing Growth Centre (AMGC) in April this year, titled “Building resilience in Australian Manufacturing,” recommended three strategies to all manufacturers seeking to improve their performance: superiority, diversity and flexibility.
The report suggested that flexible firms have agile business structures that allow them to shift their production towards adjacent industries and products to maximise their profits.
Manufacturers’ Monthly reached out to Tommy Halmos, managing director of IDM Instruments, whose company has taken a flexible approach to the production and distribution of testing and measuring instruments.
IDM Instruments specialises in the design, manufacturing and supply of testing and measuring instruments. The company supplies its products to a vast range of industries, including packaging, polyurethane, foam, bedding, furniture, plastics, paper, and textile industries.
Additionally, the company provides various services to the defence industry and supplies its testing and measurement equipment to universities and other educational establishments.
“Our instruments are used to test different aspects required for quality control and cost-reduction of a final product, with reference to recognised standards. We also conduct in-house custom CNC machining and fabrication based on the customers’ specifications,” Halmos said.
The secret to IDM Instruments’ success and growth lies in its ability to adapt to its customers’ needs, either through developing new products or coming up with new ways of providing services.
“Over the years, we have focused on refining and improving the designs of our products as the need arises. As a service-driven company, we also provide tailored solutions to customers. As customer requirements and needs become more specialised, they sometimes require equipment that is not readily available or offered by other companies.
“As we work on improving our designs to meet customer-specific needs, this also helps us become more flexible as a company. As customers’ needs change, we adapt to be able to meet these needs, and this helps the company grow both in capabilities and in customer relations,” Halmos said.
Remaining agile and connected to new technology developments is another important aspect of growth for a company like IDM Instruments.
“We keep ourselves up-to-date with new technologies and market demands by attending and researching global conferences and trade shows, through webinars and seminars and through supplier’s marketing tools. We use the knowledge and technologies gained through these platforms in the functionality of our designs, as well as how we manufacture our parts and products. We also look at what new material and process are in development, and how our testing equipment could be of benefit.
“When a client contacts us with a broad requirement, such as testing the strength of raw foam needed for a mattress, we break down and analyse the problem with our engineering team and see how we can effectively fulfil the clients’ needs. Through continuous communication and feedback, we then come up with a design and inform the customer of our solution,” Halmos said.
IDM Instruments has its headquarters in Australia, where its in-house designs, fabrications and products are manufactured. The company also supplies and distributes complementary equipment for its products.
Apart from a strong presence in the domestic market, IDM Instruments generates as much as 65 per cent of its revenues from exports to markets in Asia, Europe and the Americas. The company is now looking at increasing its presence in the Asian market, with plans to establish a foothold in India.
IDM Instruments was a finalist in the category of Exporter of the Year in last year’s Endeavour Awards, organised by Manufacturer’s Monthly in May 2017. Endeavour Awards 2018 will be held on July 12 in Melbourne, bringing together manufacturers from across Australia.
Currently the company has three new products in the pipeline, all of which are in the design phase. These include a laboratory heated press with 600x600mm platens and maximum temperature of 500°C, a mattress rollator with added foam compression, and a customised sliding table for band saws.
IDM Instruments also takes on custom builds and is running several general machining jobs for local companies.