The entrepreneurs entering the business world are hoping to have the next big idea that revolutionizes everything. Unfortunately, no matter how much hope some of the young entrepreneurs have, many still end up failing due to a complete lack of experience and knowledge. In these cases, they could learn a lot from looking at entrepreneurs like Sheldon Lavin and his decades-long career at OSI Group.
Sheldon Lavin has a lot of knowledge in business, but in particular, he is great at large-scale food supply chain operations. He knows that there are a lot of factors that must be considered in order to make these operations a success. Sheldon Lavin knows that it is impossible for him to be able to make every minute decision on his own, which is why he implements a strong, trusted team to help him with the details.
One of the types of incidents that Lavin relies on his team for is keeping him informed about any possible shortages of necessary ingredients. If the research of his team predicts that there will be a shortage for a particular reason in the near future, he knows to go ahead and order a large quantity of the product before the shortage happens and the price increases. This process has helped Sheldon Lavin in career for the last 50 years.
The OSI Group has had a century of success in the food industry. It is sometimes difficult to imagine the multinational corporation as the small butcher shop that it began as. The butcher shop that started OSI Group was founded by an immigrant from Germany in a suburb of Chicago. Later, the business was taken over by the immigrant’s sons who helped the company grow by making several important business decisions.
One of the main factors of growth for the company that is now led by chief executive officer Sheldon Lavin is their involvement with McDonald’s. When the sons of the company’s founder first made the handshake deal with the owner of the chain that at the time only consisted of a few franchises, they never expected it to grow in the way that it did. As the chain expanded across the country, the company that would become OSI Group quickly figured out ways to expand their production while maintaining a fresh product that could be shipped for long distances. Innovation made this possible and has become part of the core values of OSI.