The importance of big corporations -Work at Smiths Group plc
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Transcript of The importance of big corporations -Work at Smiths Group plc
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Profiting from Large Companies
Martin JonesFormer Director of Technology & Innovation, Smiths Group plc
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Times today are tough for us all
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Times today are tough for us all
But recovery wil l be led by our big corporations
Let’s take a look inside one……..
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Smiths Group plc
Annual Sales £3500 mil l ion
35,000 people
International business
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Smiths MedicalSpecialised devices and equipment forcritical and intensive care
Specialised healthcare equipment - infusion, blood warming and monitoring
Safe needle closure
preventing needlestick
injuries
Single-use devices - an essential part of new procedures
Ambulatory insulin pump
helping diabetics
� in a dynamic market� Market leader with premium products � Medical technology innovator� Organic and acquisitive growth
Temperature management
Airway management
Women’s healthcare
Pain managementNeedle protection
Critical care
Vascular access
Ambulatory infusion
Hospital infusion
Innovation is the key to growth
FARN 0702 | 6
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Smiths AerospaceOne of the world’s leading aerospace equipment suppliers
� Top t ier supplier� Systems integrator� Commitment to R&D� 60% of business in
high growth markets
Defence50%
Detection etc.15%
CivilAerospace
35%
(sales)
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Smiths IndustrialElectronic interconnect; instrumentation
Principal activity: Interconnect - the connection and protection of safety-critical electronic circuits
� Multi-pin connectors� Microwave cable
assemblies� Microwave components� Surge suppression� Lightning strike protection
� Aerospace & defence� Medical electronics� Railroad signall ing� Cellphone infrastructure
for
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Smiths Detection A major new market opportunity
� Equipment for detecting chemical, biological, nuclear, explosive and narcotic threats
� Well established military business in battlefield systems
� Substantial requirement for airport security worldwide - meeting increased threat from terrorism post 9/11
� Additional opportunities in public buildings � Smiths is investing heavily
in a growing market
Applications in both mili tary and commercial sectors
$4.5bn
$1.1bn
$2bnFacilit ies protection -agencies
Military
Transportation security
Total market size
Detection systems - next ten years
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Types of large company
• Centralised?
• Decentral ised?
• Where are the decisions made?
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Some companies within Smiths Group plc
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New product development
A key driver of business growth
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Innovation is rarely straightforward
Suppliers participate in the ups and downs…….
…….and must be part of the team
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An innovative business needs:
• The right culture for teamworking
• Capable people
• The knowledge
• Effective networking
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Product innovation involves suppliers from the start
• Product specification
• Design studies
• Innovative thinking
• New processes
• Logistics
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The ideal supplier…..
……brings solutions and not problems
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Quality Management Systems
• Visibility of how well you do things
• ISO 9001 - Management
• ISO 14001 - Environmental
• Certification must be accredited (UKAS)
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Always on the lookout for new suppliers
• Increased outsourcing
• New technology
• Better quality
• Improved service standards
• Lean approach
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Design Innovation – A UK strength
Design consultants are influential decision makers –
A potential link to major customers