Strategic Priorities

The core of our ‘One ITAB’ strategy is to evolve ITAB’s business to a solution-based and more agile business model, building on the Group’s intrinsic knowledge base and its success in delivering innovative solutions, and re-aligning the Group’s management, operational and cost structures with the revised strategy. To do this we need to expand on and strengthen our existing capabilities in relationship management, solution and service sales, knowledge sharing, common core processes and IT systems. To this end we have made significant changes to our organisational structure, as well as a number of senior management appointments.

 

THE VALUE OF STRATEGY LIES IN ITS DELIVERY
We have identified a number of Strategic Priorities to streamline and help drive growth and change in the business. Specific goals and detailed action plans have been prepared for the Strategic Initiatives under the control and management of an appropriate Executive Sponsor, who is a member of the new Group Management Team. They are working closely with the leaders in each of the market regions and strategic business units to implement our plans and achieve the stated goals quickly and efficiently.

There are more than forty initiatives being executed over the next 24 months to build the competences required to deliver our mission statement and goals. Currently (2021) there are 19 initiatives underway focused on our two key objectives - becoming a solution provider and streamlining the business - as well as common ways of working and empowering our people.

 

BEING A SOLUTION PROVIDER
This is all about how we approach problem solving for our customers, and create measurable ROI for ITAB’s solutions. We start by understanding our customers’ strategic goals and challenges, and through a holistic dialogue we co-create solutions.

Progress to-date includes:

  • Launch of our outcome based value proposition.
  • Introduction of our solution design capabilities to support all Group customers.
  • Sharing of know how and experience through a Group knowledge base.
  • Common sales organisation, ways of working and develop-ment plans

 

RE-ENGINEERED COST STRUCTURE
We are re-aligning the Group’s management, operational and cost structures with the revised ’One ITAB’ strategy, way-to-play and differentiating capabilities. Our focus will be to ensure profitable and sustainable growth going forward.

Progress to-date includes:

  • Reduced sales and administration costs across all businesses.
  • Consolidation of manufacturing footprint underway to drive synergies and economies of scale.
  • New operating model and organisational structure to facilitate a leaner and more dynamic organisation.
  • Focus on European market development and the core capabilities.

 

DEVELOPING AN ECOSYSTEM OF PARTNERS
Building a robust ecosystem of partners will enable us both to deliver the complete solutions required by our customers, and to reduce our supplier numbers to drive out complexity and improve predictability.

Progress to-date includes:

  • Sourcing organisation established on Group and business unit level.
  • Direct material spend categorised.
  • On-going consolidation towards preferred suppliers.

Other related goals include:

  • Establish a network of partners to innovate and increase speed to market.
  • Drive out complexity and improve predictability.

 

EXCELLENCE IN OPERATIONS
Excellence in operations means that we take pride in “first time right” and “in the agreed time”, and use Lean methodologies when we design our common ways of working. We will continue our focus on reducing lead times, improving
quality and eliminating waste in our operations.

Progress to-date includes:

  • Recruitment of new Chief Operation Officer
  • Operations matrix meeting established to share best practices and build common ways-of-working
  • ITAB WoW, based on Lean principles, piloted in two companies

Our goals include:

  • Full implementation of ITAB WoW
  • ”First time right” and ”in the agreed time”.
  • Reduce lead times and improve quality.
  • Common operational KPI’s.

 

EMPOWERING PEOPLE AND COMMON WAYS OF WORKING
Through clear KPIs, common ways of working and access to the right information at the right time, our people will be able to make good business decisions. Our aim is to make all ways of working parallel, collaborative, cross-functional and transparent.

Progress to-date includes:

  • Introduction of common ways of working and support systems across our sales organisation.
  • Revised operating model and new organisational structure implemented.
  • Transparency of customer opportunity management and account planning.

 

EXPANDING OUR MARKET POSITION
Currently, our main differentiator is our know-how, our customer relations, and our comprehensive portfolio, which is unique in the industry. We will build on these strengths and make it a reality in all our regions, expanding our market position.

Progress to-date includes:

  • Extensive work has been carried out to achieve these goals as part of our investment and Value Proposition initiatives, building on current strengths and prioritising our markets, and leveraging our cross-sector experience, know-how and portfolio of solutions.

Related initiatives underway include:

  • Ensure that we act as one across ITAB and learn from each other.
  • Strengthen our prioritised markets.

 

SUSTAINABLE FUTURE
At ITAB we collaborate and continuously innovate for a sustainable future. We have clear goals and ambitions for our own operations in terms of sustainable business development, efficiency in the value chain, good working conditions and business ethics.

Progress to-date includes:

  • Group Management augmented by the new role of SVP, People & Culture, further promoting diversity opportunities.
  • Training initiatives to strengthen operations in production and logistics.
  • All future electricity agreements must be with companies that can supply electricity from renewable energy sources.
  • Benchmarking and identifying gaps in our sustainability work with an external partner.

Our goals and initiatives include:

  • Sustainable business development
  • Efficiency in the value chain
  • Good working conditions
  • Business ethics