2014 operational snapshot
• Significant excess installed
capacity
• Increased efficiencies will improve
competitiveness
• Supply chain efficiencies will
improve working capital utilisation
• Average score increased
from 31% to 46% and further
ambitious improvement targets
in place for 2015
Chart shows significant
opportunity to
improve
competitiveness
Cultural
Awareness
Visual Management
& Housekeeping
Standardised
Work
Flexible
Operations
Continuous
Improvement
Error
Proofing
Quick
Changeover
Total Productive
Maintenance
Material
Control
Level
Production
The lean assessment score for every IMI site is available
for all employees to view via the lean benchmarking
application on the global intranet. Benchmarking identifies
best practice within IMI and provides visibility of where
to focus improvements and where to go for assistance
to improve performance going forward.
16
IMI plc
Strategy in action
2. Improving operational performance
The benefits of moving towards and achieving best in class operational performance are
very significant. As we improve how our businesses operate we will better utilise capacity,
enhance our competitiveness, reduce working capital and generate cost savings by operating
more efficiently. By doing this, we will also improve services for our customers. Our ambition
is to progressively self-fund our organic growth initiatives using the benefits generated from
our operational improvements. We are on a self-help lean journey, underpinned by the
engagement of management and employees at all levels as we believe this is the best way
to sustain our achievements.
The operational performance of every site in the Group is now being benchmarked every six
months against the ten areas of lean and significant progress has already been achieved. A world-
class operational performance score is 85% or more and at the time of the first benchmark, none of
our facilities came close to achieving this, with the highest score being 57%. Each of our businesses
now have detailed plans in place to achieve world-class performance by 2018.
Second round assessment average lean scores by division
World-class > 85%
IMI Critical Engineering
IMI Precision Engineering
IMI Hydronic Engineering