A PLAN FOR GROWTH
Every part of the Rexnord Business System (RBS) supports continuous improvement across our business platforms. Four core processes help us dig deep on an ongoing basis to ensure we’re solving smarter with our own growth plans:
- Strategic Planning – knowing where we want to go. Our Strategic Planning process is used across business units to define three-year strategic intent. It includes exploring the current state of the business and landscape, identifying smart paths forward, and establishing key steps needed to achieve growth and profit targets.
- Strategy Deployment – a roadmap to get there. The Strategy Deployment process is how we systematically execute our business strategies in actionable tasks with metrics, resources and support plans. It defines the steps we are taking and clearly articulates how they align with the company’s vision, priorities, goals and objectives for all associates.
- Budget Process – the means to act. Through our Budget process, we establish a 12-month plan that details financial commitments needed to execute each three-year strategic plan. This takes place on a rolling basis, with continual learning, reviews of assumptions, progress assessment, and course correction.
- Product Life Cycle Management (PLCM) – a deep look at our product lines. As part of our larger strategic planning, we include a rolling, 12-month process to ensure our product lines bring superior value to customers and meet expectations. The PLCM process includes looking at current product lines and future opportunities, analyzing gaps, and identifying and developing future options that will deliver unique benefits and profitable solutions.