WE HAVE A BOLD VISION OF GROWTH
FOR THE NEXT THREE YEARS.
Growth initiatives that will capture opportunities generated by our business units across the globe.
1. DELIVER BREAK-THROUGH, DISRUPTIVE TECHNOLOGY
Maximize our investment in R&D to develop break-through technology and bring disruptive new products to the market. We will continue investing in R&D to develop leading edge technologies and innovative new products that perform better and are embraced by end-users. We work closely with targeted end-users to bring to life these innovations and assure their commercial success. For MILWAUKEE® this means continuing the flow of new products that improve the productivity of the skilled trades and disrupt the competition through value-added technology advancements like FUEL®.
2. LITHIUM ION CORDLESS LEADERSHIP
Lithium ion cordless products as the centerpiece of our product strategy. The global market for cordless products in our industries is expanding rapidly and TTI has led the way with game-changing successes like RYOBI® lithium ion cordless outdoor products. We have built industry leading product development and manufacturing competencies to exploit the expansion of lithium ion cordless products. We have established the broadest and most successful lithium ion cordless system platforms in the world and are committed to expanding these franchises with innovative products and services.
3. BROAD-BASED INNOVATIVE PRODUCTS
Broad-based innovative new products and new business development around our key business units and powerful brands. Our high-speed new product teams will launch user-focused innovations that create new business platforms and deliver incremental growth. We are looking at broad categories with vast potential, like the hand tool business under the MILWAUKEE® and HART® brands, the steam cleaning products from HOOVER®, VAX® and DIRT DEVIL®, or the extensive accessories in almost all our product categories.
4. AGGRESSIVE MARKETING, DEMAND CREATION
Aggressive marketing, demand creation for key brands and targeted products. We launch new products with superior innovations, or enter new markets with compelling marketing to generate user demand. We will continue expanding our communications and user conversion programs to deliver brand and product messages that attract new and loyal end-users. We are significantly increasing our store merchandising, marketing, promotions, and other downstream demand generating activities.
5. TARGET GEOGRAPHIC EXPANSION
Continued expansion into under-represented geographies and markets. We are focused on continuing the considerable success in expanding our share of markets like Canada, Western Europe, Australia and New Zealand, as well as the US. Additionally, we are establishing marketing companies and building distribution footholds across Eastern Europe, Middle East and Africa, Latin America and Asia, merging local knowledge and TTI culture to ensure sustainable growth.
6. FLOOR CARE TRANSFORMATION
Floor Care transformation to lead the industry and to be a key contributor to our growth. Our powerful floor care brands; the iconic HOOVER®, VAX® and DIRT DEVIL® are unrivaled. We have initiated a plan to unlock their value through a pipeline of innovative and well designed products, great demand generating marketing, and streamlining operations to boost productivity and lower costs. All these initiatives will be internally funded through cost savings and growth.
7. DRIVE OPERATIONAL PRODUCTIVITY
Operational Excellence will remain at the center of our operating culture and of the commitment we make to our customers. At our core is a relentless search to constantly deliver improvement in everything we do. We have a robust process for delivering productivity and quality in our manufacturing based on lean initiatives, supplier performance enhancement programs, and rigorous project management. We are investing in automation to drive efficiency improvements and better quality in our manufacturing. Our supply chain management will remain highly focused on improving service levels to our customers, one of TTI’s key competitive advantages.
8. GLOBAL ORGANIZATIONAL DEVELOPMENT
Organizational development will be enhanced to ensure we have the best teams in the industry, both locally and globally. We have an outstanding management team, but are acquiring externally and developing internally the high-caliber talent required to build scale in our core markets and expand geographically. Our flourishing LDP program will be expanded to help serve our growth, extending its reach further outside of North America. We already have LDPs in a number of international markets and our engineering LDP program in China is off to a successful start.