GPI 208 – Run contests to get great ideas for using or reducing your scrap.

Calculate the amount of cardboard, sheet metal scraps or plastic pieces your firm discards every month and consider other uses for these materials.  Look at dust generated that is carried away, runoff water, spent fuels, spent oils, metal shavings, wood chips, cotton scraps, off spec products, throwaway rags, falloff material and anything else carried out in a scrap bin or roll off.  The profit potential for using scrap in some positive financial way is far greater than the small dollar amount a firm receives from its waste and recycling vendors.  Someone has a great idea for you so be prepared to pay to get it.

Consider running ongoing contests on your website or in your facilities to get ideas about how to use scrap material generated in your company.  Define the amount generated by your operations and forward this information to the local universities.  Put some sizeable dollar awards behind getting some great ideas and you might help some kids get through college.  That would generate wonderful advertising in itself.

Given that most companies want to be regarded as green-friendly and expect the same of their vendors, this program announcing new winners every two or three weeks might make sense for your firm assuming your company generates enough scrap.  If you have metal, plastic or wood scrap, run contests on your website and award $100 winners (you pick the dollar amount) for the best ideas.  They can include making more projects, using the material again versus sending to landfills or changing current products in order to reduce the amount left unused.

Benefits of an ongoing scrap contest:

1. University participation and the resulting goodwill.  Select local universities and give awards to art students or engineering students for their best ideas or most ingenious designs to be used while using up your scrap to make additional products of value to be sold.
2. Website activity and news.  The contest provides great content with photos and copies of the designs which can be emailed out to current buyers to get their interest.  This is another reason for your sales personnel to speak to buyers.
3. New ideas sometimes lead to new products and new markets.  You never know what design will win your award or which idea from a 20 year old kid becomes a lucrative product for your company, all for $100.  Give savings bonds, prepaid credit cards or cash in exchange to the winner for full rights for the design.  If the winning design is won by a group of kids, establish a scholarship and donate 10% of the profits produced by the new product sales.  You will get your name posted everywhere and will receive substantial recognition simply because you chose to discuss your firm’s scrap yield with a bunch of 20 year olds; not a bad payback for such a simple contest.
4. Do not restrict contest participants.  Do you really care where great designs come from?  No you should do not.  You should be only concerned with obtaining the best participation possible from all sources; your employees, vendors, customers and the public.  Unlimited participation on your website will draw more views.  Take advantage of these contests and publish the winners with pictures and images of their winning designs.  Advertise in industry magazines and newsletters.  Post the contest notices at all the local schools if that is desirable.  Customers appreciate vendors who get involved in the neighborhood so go get involved.  Give some awards out, take pictures, pass out food and drinks, offer awards and see the positive effects on your company public relations.
5. Run the contest frequently.  Run the contest every semester at the local colleges and open it up to anyone who has a great idea for your firm.