Jane Warner
Executive Vice President, Global Finishing and Software Businesses, Illinois Tool Works (ITW)
Dubbed "one of the sharpest tools in the shed" by Baron's, Illinois Tool Works, (ITW) has produced double digit earning gains in each of the past 10 years, a robust acquisition strategy, and a culture deeply rooted in developing commercial innovations.
A 100-year-old company located in Glenview, Ill., ITW is comprised of 825 decentralized business units in 52 countries and employs approximately 60,000 people. As of the end of February it had already completed 13 acquisitions in 2008.
The $16.2 billion company credits much of its success to a well-trained workforce that understands the manufacturing challenges facing customers and can develop original solutions from the ground up.
It is also committed to innovation. The company's ITW Technology Center provides advanced consulting on issues such as cutting-edge materials, mechanical designs and manufacturing processes. In addition, ITW typically ranks in the top 100 of patent recipients in the U.S. In 2007, it had nearly 20,000 unexpired patents and pending applications worldwide and ranked 79 of top issuers of U.S. patents in 2006.
ITW's success strategy will be discussed at the Great Lakes Manufacturing Forum July 9-11 in Cleveland by Jane Warner, executive vice president, Global Finishing and Software Businesses. The focus of her presentation will be ITW's decentralized approach to running the business, the role innovation plays and the company's strategies to make it a cog in the global wheel.
Warner points out that a driving force behind much of ITW's success is the 80/20 business process, a practice that keeps the company focused on its most profitable products and customers. The concept is simple: 80 percent of a company's sales are derived from the 20 percent of its product offering being sold to key customers. Known internally as the ITW Toolbox, this repository of proven strategies and techniques guides the company's business process and helps it find new ways to enhance customer satisfaction as well as drive margin growth and profitability.
Warner, who is ITW's first woman executive vice president, joined ITW in 2005 as president of worldwide finishing after a successful career in automotive manufacturing and information systems. She was previously the president of Plexus Systems, a manufacturing software company, and a vice president with EDS, where she led their global manufacturing industry group. She also has operating experience from Textron Automotive where she was president of a multi-plant, international automotive supplier and a 20-year career with General Motors with executive positions in manufacturing, engineering and human resources. She is a member of the Tenneco and MeadWestvaco boards of director and a member of the Kettering University board of trustees. Warner served as chairperson of the Kettering board.
Jane Warner Discusses Revitalizing the Great Lakes Region
Q. How does the Great Lakes Region revitalize and remake itself?
A. The Great Lakes region is filled with incredibly skilled people capable of creating and producing complex products. There is likely no other place in the world with such a concentration of talent. We need aggressive and active collaboration between key Great Lakes universities, government groups and business to leverage knowledge, funding and inherent human capital.
Q. What role does image play in this revitalization?
A. A place to live … and a place to work play a significant role in attracting and retaining talent. Today’s high energy, creative minds value culture, diversity and flexible work environments; not something the manufacturing industry has been known for. We compete for these rare resources not on a domestic but international basis.
We need to show people manufacturing is not a dirty, dusty, low-skill business. It is fun. It is high tech. It is a knowledge industry that spends millions of dollars annually on R&D for projects that go far beyond anything the movie industry has created.
Q. How do we attract the talent we will need to ensure the future of the Great Lakes Region?
A. We need to look closely at our assets….wonderful lakes, four seasons, excellent universities, cultural venues and the terrific environment in which to raise families. We need to also facilitate international experience as we foster entrepreneurial work opportunities in the region through making it easy to start and grow a business.
The Great Lakes Manufacturing Forum is a tremendous catalyst for that change. It gives every attendee a voice in the process and allows each person to influence the thinking in our region.