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Performance Excellence

YR 2013. Performance Excellence. Strategic Planning & the Balanced Scorecard Strategy in Action!!. The Balanced Scorecard. Lean Model / Strategic Planning / BSC. Performance Excellence. Strategic Planning Process.

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Performance Excellence

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  1. YR 2013 Performance Excellence Strategic Planning & the Balanced Scorecard Strategy in Action!!

  2. The Balanced Scorecard Lean Model / Strategic Planning / BSC Performance Excellence

  3. Strategic Planning Process The Strategic Planning Process has been formally documented and inputted into the Quality Management System. This document is numbered 1033. 1033 is an auditable procedure. Performance Excellence

  4. Core Ideology Purpose Why we exist – Beyond making money To reduce the potential danger to human life by ensuring the integrity of our customers' products To be the leading NDT and Surface finishing company in the world Core Values The few essential tenets that is non-negotiable within the organization, timeless and unchanging. Strategic Planning Process September Timeframe Honesty, Integrity and Responsibility, Service FocusedTreating People with Respect, Dignity, and Fairness Commitment to Excellence,Individual and Team Initiative,Personal and Team Safety Vision The Strategic Planning starts with; the purpose of the Organization the Vision Mission Core Values Quality System. These documents and values define the heart of the organization and who they are. They are critical to the foundation of the Strategic Business Planning Sessions. Mission A competitive World Class Organization utilizing Continuous Improvement methodologies and Employee Involvement in support of our Core Values and meeting Customer’s Expectations and our Financial Commitment to the Stakeholders Performance Excellence

  5. Strategic Planning Process September Timeframe X-Ray Industries, Inc. Annual Strategic Business Planning Session (Annual) Sept Timeframe X-Ray Industries Strategic Rocks X-Ray Industries Action Plans To Support Initiatives As illustrated through the process flow Strategic Rocks are developed at the Corporate level and are assigned deadlines and targets. (these rocks are measured / monitored using the Balanced Scorecard (BSC)). This process takes place in September and is presented to the Business Unit Leaders during a SBP meeting lasting 3 – 5 hours. Business Unit Leaders have the opportunity to ask questions for clarification of the rocks and get direction for the upcoming year. X-Ray Industries Balanced Scorecard Performance Excellence

  6. Strategic Planning Process September Timeframe X-Ray Industries, Inc. Annual Strategic Business Planning Session (Annual) Sept Timeframe X-Ray Industries Strategic Rocks X-Ray Industries Action Plans To Support Initiatives • At the conclusion of the Annual September meeting held by Corporate, the Business Unit Leaders are assigned a date in which they must present their Strategic Planning Initiatives to support Corporates direction. • These initiatives include: • Safety • Quality • People / Human Resources • Performance Excellence • Cost Management • Financial • Strategic Growth • Systems Requirements X-Ray Industries Balanced Scorecard Business Units Strategic Business Planning Session Business Unit Identifies Performance Indicators to support BSC Performance Excellence

  7. Strategic Planning Process September Timeframe Business Unit Action Plans to support Initiatives Business Units Initiatives • Every initiative has an action plan identifying • Action • Champion • Date Open • Date Closed • PE Category • Status • Comments / Results Performance Excellence

  8. Strategic Planning Process Quarterly Report Outs Every Business Unit conducts a formal Midyear review, members of the Corporate Team Participate in order to see progress and offer assistance to ensure BU success. Performance Excellence

  9. Strategic Planning Process Report Card The above graphic illustrates a report card that will grade each Business Unit on their performance as it relates to the Strategic planning and the Initiatives. Performance Excellence

  10. Core Ideology Purpose Why we exist – Beyond making money To reduce the potential danger to human life by ensuring the integrity of our customers' products To be the leading NDT and Surface finishing company in the world Core Values The few essential tenets that is non-negotiable within the organization, timeless and unchanging. Strategic Planning Roadmap Strategic Planning Process Honesty, Integrity and Responsibility, Service FocusedTreating People with Respect, Dignity, and Fairness Commitment to Excellence,Individual and Team Initiative,Personal and Team Safety Mission A competitive World Class Organization utilizing Continuous Improvement methodologies and Employee Involvement in support of our Core Values and meeting Customer’s Expectations and our Financial Commitment to the Stakeholders Vision

  11. Weaknesses Strengths Communication top down Employee Knowledge, understanding the commitment of the core values Performance Excellence 6S Management By Site Lack of understanding of the financials Customer engagement Performance Reviews (IPP vs Performance measures) Succession & Development Resistance to change Landing new business / opportunities Personnel documentation (performance, attendance & etc) Contract Review Process & the understanding of the risks Reputation More 1:1 with Business Unit Managers Forecasting Model Lack of Training (Cross) Lack of qualified personnel in the market place (to hire) Certified Personnel Employee Loyalty Nadcap Certifications Prime Certifications Quality System Safety System Ability to Train Internally Company Commitment to grow the business Financial Position Overall Leadership Customer Focused Employee / People Focused Core Values Capacity (Multiple Processes) Synergies Between Business Units Business Launches (equipment , processes, certifications) Corporate Support SWOT Strategic Planning Process

  12. Threats Opportunities Customer Contracts (Lack of LTA’s) Economy Competition Customer Downsizing/Closings Customers losing market share New Competition “players” Key Individuals leaving the company Not meeting financial expectations Escapes (reputation, human life, suspect product) Lack of Revenue prohibiting raises Environmental (compliance, spill, waste water) Silver process that are in our LTA’s Year – over – Year pricing concessions / demands Growth in UT (Composites) Growth in non-core NDT Methods Performance Excellence 6S Management By Site Improved Communications Continuous Improvement Mid-Level Leadership “from a growth and Learning” perspective DR / CR in Hampton & Zeeland Automation in Zeeland PCC in Cleveland Additional Business / Acquisitions Sales focus / Cleveland / Troy / South Carolina N-Ray Replacement Leadership Training Customer Engagement Capital Investment Conversion to new processes (RT, CT vs DR &etc) Growth through additional locations Better utilization with IT systems(software) training Better utilizations of Best Practices Standardization of asset tagging Better means of forecasting manpower dynamics / trainees Improve Forecasting Models Thermography Opportunities (Chromalloy, Alcoa, PCC) SWOT Strategic Planning Process

  13. “Rocks” Strategic Planning Process The Strategic Rocks are measured in the Balanced Scorecard as “P2 Strategic Initiatives”.

  14. 3 Year Metrics 1 Year Metrics Date: YR2013 Date: YR2015 “Rocks” Strategic Planning Process F1 Revenue: F2 Operating Income: F3 Conversion on Sales: Growth in Revenue F1 Revenue: $$ F2 Operating Income: $$ F3 Conversion on Sales: % Key Thrusts (Top 3 – 5) Key Initiatives (Top 5 – 10) Pursue growth strategy: Continue to expand XRI’s footprint Co-location Model Stand-alone facilities Safety Management System Quality Management System Human Resources Performance Excellence / SEA Cost Containment Continuous Improvement Growth System Requirements Financial Performance Technology Enhancements Grow our markets in Thermography & Training/Consulting Convert from film to digital when supported by Customers & Primes Living Performance Excellence and Supplier Excellence Alliance in all divisions throughout X-Ray Industries

  15. “Rocks” Strategic Planning Process X-Ray Industries, Inc. Top 5 Goals Customer Focus & Quality Management System Workforce Engagement & Development Safety & Environment Growth Opportunities Achieve Financial Results • Vivid Description of the Future • Global provider across Industries • The go to company in our key services (NDT / Nadcap Special Processes along with Consulting & Training) – the market comes to us based on market and size. • Profitable growth through acquisition and expansion into world markets with NDT and Special Processes without compromising our core values. • Employer of choice – respects employees and provides for an environment of advancement and development, sense of security, and competitive wages and benefits.

  16. The BSC is Designed in-line with the initiatives from the Sept SBP Meeting Strategic Planning Process

  17. Strategic Planning Process The Balanced Scorecard • The Balanced Scorecard Methodology used at X-Ray Industries, Inc. was developed by Robert Kaplan & David Norton, professors at the Harvard Business School. • The concept behind the Scoreboard is to translate Strategic Planning into an actionable model to monitor and measure an organizations performance as it relates to their strategic business planning. • There are four perspectives: • Financial • Customer • Process • Learning & Growth However they are measured from the bottom up! These perspectives are built from the top down! Measured Built Balanced Scorecard

  18. Lean Model The Balanced Scorecard This model has been designed as our Lean Model as you can see the criteria for Performance Excellence, Supplier Excellence Alliance and the Balanced Scorecard have been aligned. The lean assessment tools have been identified under the Performance Indicators category, aligning with the Business Plan, BSC, PE. Performance Excellence

  19. Balanced Scorecard (BSC) The Balanced Scorecard The 2013 BSC has been designed using the “rocks” that were initiated from the Strategic Business Planning meeting in Sept 2012, and will measure the years Strategic Planning Initiatives as set by the Corporate Team and all Business Units. Performance Excellence

  20. Balanced Scorecard (BSC) The Balanced Scorecard Take notice that all BSC perspectives (Financial, Customer, Process and Learning & Growth) have now been clearly aligned with the Performance Excellence criteria. Performance Excellence

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