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Our strategy

Our strategy focuses on key elements that keep our business model running.

People and culture

Focusing on people development

Our success is a result of the commitment, skills and ingenuity of our 5,000 people. They bring fresh thinking and customer focus to every aspect of their work.

Our core values of innovation and integrity shape our strong culture. This provides the foundations and required alignment for us to successfully work towards our strategy, fulfil our purpose and continue to build a sustainable and successful Group.

Our focus

With 5,000 employees globally, we are focused on a new internal communications strategy to ensure effective communication, engagement and feedback across the Group. We also have a renewed focus on learning and development, and leadership and management training, complemented by a new performance review process.

What we have achieved in the past year:

  • We launched our global Wellbeing Programme to help support our people around the world and help employees manage their work-life balance
  • We conducted a UK-wide engagement survey to obtain employee feedback about working at Renishaw; we expect this to be rolled out overseas during the year
  • Global HR business partners have been established to support our different regions, allowing us to have greater focus on people development
  • Nearly 200 STEM ambassadors, including graduates and apprentices, continue to support our educational outreach initiatives.

Continuous R&D

Taking a long-term view

For Renishaw, research and development has always been at the heart of our business, typically investing between 13% and 18% of revenue annually in R&D and engineering to maintain leadership in our various technologies. Patent and intellectual property generation is core to new product developments and our six in-house patent attorneys are key members of our development teams.

'Apply innovation' is deeply embedded in our culture. We have continued to protect our core businesses with exciting new patented technology and process developments, while also diversifying into new product and market areas. We also work with key universities to supplement our core specialities.

We are prepared to take a long-term view with R&D and, as our Director of Group Technology, Geoff McFarland, says, "It requires a passionate belief in the ultimate commercial viability of the technology, and the ability to hold your nerve, because the length of time from fledgling technology to commercial launch is regularly underestimated."

Our focus

The current technology focus continues to to be on products that help our customers to improve measurement performance, enhance the performance and efficiency of their products, increase speed of operation, increase measurement capability and are easier to use.

What we have achieved in the past year:

  • 29 new patent applications filed and 103 previously filed patents granted during the year
  • Designed for biological and clinical research, the new Renishaw RA816 Biological Analyser was launched during the year
  • A new servo positioning head for CMMs is used within the automotive market for body-in-white measurement
  • For high-end XY stages that require multiple interferometer feedback axes, our new multi-axis periscope (RMAP) enables accurate six degrees of freedom measurements.

High-quality manufacturing

Investment in efficiency and infrastructure

We are a highly vertically-integrated organisation with significant in-house manufacturing capabilities. With high-quality manufacturing plants located in the UK, Ireland, India, Germany, the USA and France, we are able to deliver exceptionally robust and reliable products to our customers, which have been tested to our exacting standards.

As a manufacturer operating in a high-mix/low-volume situation, with a strategy of delivering exceptional customer service, our approach has been to maintain as much control as possible of our supply chains. This has been achieved through a combination of in-house manufacturing (using in-house automation and our own products), duplication of critical processes, dual sourcing and strategic long-term partnerships with our third-party suppliers. We also have supply chain management teams based in China, India and Ireland.

Our focus

We strive to ensure our products are designed to optimise manufacturing capability, whether in relation to our machining and assembly processes, or that of third-party suppliers. We invest in people and resources to meet the output requirements demanded by turnover growth and to improve our cost of sales performance.

What we have achieved this past year:

  • In Ireland we continue developing intelligent manufacturing systems using smart factory concepts and in-house developed process control systems, while displaying real-time data for production outputs, product yields and process monitoring
  • At the Woodchester site we installed the first of a new generation of in-circuit test platforms to improve throughout on PCB (printed circuit board) functionality tests
  • In Wales we added to our in-house capabilities for cutting tool and large part manufacture, and installed a second automated cell with robot loading for encoder ring machining.

Global customer support

An essential part of our customers' world

We are passionate in the belief that excellent customer support delivers success. Our customers can be global, with an order being placed in one country and the product shipped to the eventual end-user, who could be located on a different continent. By having 'local' global support through our wholly-owned subsidiary network and long-term distributors, we are able to assure customers that whatever needs, we are able to support and assist them, resulting in a positive return on their investment.

We are very focused on having a long-term relationship with our customers. It is not just about a sale but also supporting and helping our customers develop their processes and improving the quality of their product output.

We continually review our support policies and create new services to help our customers in their changing markets. Our aim is not just to meet customer requirements, it is to exceed their expectations.

Our focus

Through the life cycle of all our product ranges, we are focused on providing innovative services to support changing customer expectations and market requirements. We are flexible with our approach, and support customer needs from initial purchase right through to obsolescence, regardless of global location. We are continuing to grow our support network.

What we have achieved in the past year:

  • 150 visitors attended our Manufacturing in Aerospace open day at our world-class Innovation Centre in Gloucestershire, UK, where we led discussions on the future of aerospace and how manufacturers should prepare to meet the expectations of this growing industry
  • We formally opened our new Additive Manufacturing Solutions Centre in Pliezhausen, Germany, with two solutions networking events for customers from key sectors including: machinery and plant engineering, automotive and aerospace
  • We opened new facilities in Ningbo, China and Istanbul, Turkey, enabling us to demonstrate our metrology products to customers in these locations. We also officially opened our new office in Nuevo León, Mexico.

Delivering solutions

Meeting market demands

Our business has transitioned over recent years from primarily being a supplier of products to capital equipment manufacturers, to becoming much more focused on delivering a full solution directly to end-users. We aim to truly understand our customers' needs, allowing us to offer a cost-effective, efficient and easy-to-use solution.

This requires our sales force and technical support teams to be ever more knowledgeable, not just about what our products do, but also how they can be applied to benefit our customers' processes and practices.

Our global network of Additive Manufacturing Solutions Centres is typical of our differentiated approach. We work collaboratively with companies that intend to deploy AM in production, supporting them from conceptual design, through product and process optimisation, to pre-production scale-up and production deployment. As well as AM machines and application engineering support, customers benefit from our expertise in machining, metrology and finishing operations.

Our focus

We are focused on the levels of integration that we can bring to our customers' manufacturing environments, especially those looking to bring connectivity and the intelligent use of data within their manufacturing processes.

What we have achieved in the past year:

  • Adoption of quad laser AM systems is enabling Knust-Godwin (USA) to reduce oil and gas customers' lead time from concept to commercialisation from 24 months to just eight months
  • Integrating Renishaw's RLE10 laser encoder has dramatically improved the positional accuracy of Yagishita Giken's (Japan) multi-core optical connector inspection machine from 0.1 micron to 0.01 micron resolution
  • Senior Aerospace Weston, Lancashire, UK has used renishaw's Equator gauge to cut inspection times per part by around 75% and introduce more comprehensive component traceability.
Figures as at date of 2019 Annual Report.