CEO Interview: Providing Value to the Orthopedic Industry

Orchid’s CEO, Nate Folkert, joined the organization in October, 2020.  Prior to joining Orchid, Nate was on the Original Equipment Manufacturer (OEM) side of the business for approximately 20 years, enabling him to bring a different perspective about how Orchid can better partner with our suppliers. 

Nate shared his observations during an interview with SmartTrak. Here are some takeaways from the interview.

CEO Interview: Providing Value to the Orthopedic Industry

Enabling OEMs to Focus on What They Do Best

There is an opportunity for full-service contract manufacturers to help OEMs consolidate their supply base. Our customers (OEMs) are good at research & design, marketing and bringing products to market. Orchid is good at manufacturing, so we can partner with OEMs to allow them to decrease their investments in their operations and spend that money on areas that really differentiate them in the market.

Orchid is unique because we have capabilities in-house that many other companies don’t have, which reduces complexity and allows us to simplify their supply chain, freeing up their cash to invest in other areas of their business. 

Learnings from the Pandemic

The COVID-19 pandemic has forced us to develop a higher level of customer intimacy. Orchid is learning how to detect and respond to the rapid changes in our customers’ business. We've had to be excellent in communicating with customers at multiple different levels, and we continue to stay in close communication with them as the market starts to recover to make sure that we have the right capacity to respond to their growth.

We've also learned the importance of cross-training and redundancy. We have had complete revised workflow instruction, social distancing inside our manufacturing facilities, and personal protection implemented almost immediately, allowing us to continue to operate safely.

Orchid’s Growth Focus

Orchid’s biggest opportunity is to treat OEMs like they treat their customers, through high touch, high customer service, high responsiveness, making and keeping commitments, and doing what we say we're going to do. We need to grow with our customers and help our customers succeed so we can do more steps in the value stream. We have the opportunity to lead the industry in delivering quality and customer service, and that is how we can add tremendous value to our customers.

It is also important to create an environment where our team members can perform at a high level and build a rewarding career.

First Impressions of Orchid

“[My time here so far has] flown by and I have just been incredibly impressed with the level of talent we have at Orchid and the desire to get better for our customers. I'm extraordinarily excited about our people, I'm extraordinarily excited about the market we're in, and I'm extraordinarily excited about the prospects for Orchid moving forward,” Folkert said.

To view the full transcript or listen to Nate’s full interview with SmartTrak, click here.

Orchid Orthopedic Solutions
Orchid Orthopedic Solutions
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