Nicholas "Nick" Pinchuk, president and CEO of Snap-on (IW 500/277) (SNA), revealed details about the companies approach to managing complexity in this segment of a speech he delivered at the 2014 IW Best Plants Conference.
The IndustryWeek Best Plants Conference Video Collection: One of an occasional series featuring the "best of" excerpts from the event's keynote speeches.
Noting that the company releases an extraordinary number of new products each year -- it had in one year alone introduced 1,274 new products into the aerospace market, 471 into the heavy truck industry, and 271 in oil and gas -- he said the company must work to focus on only the essential processes and that continuous improvement was the core strategy.
He related how Snap-On structured continuous improvement into "The Snap-on Value-Creating Suite of Processes," four critical elements that drive breadth and depth of lean learning, as well as reinforcing the importance of and pride in the system.
Significantly, Pinchuk also shared the results the company achieved leveraging the continuous improvement processes.
Pinchuk was one of five top executives headlining the annual conference, which was held last May at the Wisconsin Center in Milwaukee, Wisc.
The 2015 IndustryWeek Best Plants Conference, slated for May 2015, will be held in Charlotte, N.C. with an equally impressive –- an inspiring -– panel of speakers.