Schunk has invested a lot in recent years: in personnel, buildings, machines and not least in new technologies and innovations, for example with the Innovation Fund that was set up specifically for this purpose. However, our performance has not grown sufficiently everywhere.
With our motto Focus on Performing, we aim to promote profitable and sustainable growth and further strengthen our competitive position through improved performance.
We are therefore now concentrating on making the best possible use of the investments we have made in recent years by increasing productivity, improving quality, reducing tied-up capital and thus increasing Schunk's profitability again.
Project Management Offices drive Focus on Performance forward
In order to effectively implement Focus on Performance, all ten Business Units are introducing Project Management Offices (PMOs). These PMOs are tasked with developing measures to improve performance within their BU, consolidating the results centrally and ensuring implementation.
The specific measures for each BU are to be finalized by mid-2024. Each BU will develop its own approach to implementing Focus on Performance, tailored to its specific challenges. These can be different topics depending on the BU. For many, the focus will be on profitability, productivity and net working capital. Each PMO should be fully implemented and operational by the start of the second quarter.
Central functions of the holding company support BUs
In addition to the measures within the individual BUs, the central holding company functions are also pursuing their own goals and initiatives specifically aligned with the annual motto. The holding company supports the Business Units to ensure the effectiveness and coherence of the initiative and thus also contributes to Focus on Performance.
Profitable and sustainable growth for Schunk
By implementing the Focus on Performance initiative, we can improve efficiency and effectiveness in our company and thus make a significant contribution to our profitable and sustainable growth. By joining forces, we are successfully driving the Schunk Group forward and securing our competitiveness for the future.