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Purpose and Strategy
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  3. Purpose and Strategy

Share Price

Our strategy is shaped around our core purpose: To support our customers in addressing some of the world's most pressing challenges enabling a greener economy, increased connectivity, improved health and leaps in scientific understanding.

Horizon, our transformational programme for the Group, is building a stronger Oxford Instruments, positioned to deliver long-term sustainable growth and margin improvement. As a customer-centric, market-focused Group we understand the technical and commercial challenges faced by our customers.

Our strategy enables us to provide more value to our existing customers as well as expand into new attractive markets and application areas.

Investor Information

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We have continued to make good progress with the implementation of our Horizon strategy, which is delivering tangible financial benefits to the Group. With the key tenets of our Market Intimacy, Operational Excellence, Innovation and Product Development initiatives well embedded across the Group, and positive early progress from the transformation of our Customer Support services, we continue to identify further opportunities to drive growth and improve the efficiency and productivity of the business through further development of Horizon initiatives.

Through Horizon we continue to transform the organisation into a customer-centric, market-driven business. This includes how we are organised internally, our core capabilities and how we work with and support our customers and other stakeholders. In the year we have developed the Oxford Instruments Business System, which has formalised the processes and procedures for conducting business within the Group. This ensures that all of our employees have visibility and awareness of the best practice improvements arising from Horizon whatever their role, meaning that we benefit from a unified culture and breakdown functional silos.

Our strategic priorities

Priority

Building on an in-depth understanding of our customers, applications and markets to help us strengthen relationships whilst developing a commercially strong sales engine, equipped with the tools for success.


Progress in 2020

  • We continued to strengthen our market intimacy, identifying additional opportunities for growth and to optimise the full value of our products.
  • Our refined commercial practices and enhanced digital marketing have allowed us to continue to support our customers through covid-19 disruptions.


Priorities for 2021

  • Further develop end market application segmentation and embed this across all our business processes to aid further market intimacy.
  • Proactively manage our sales pipelines through CRM developments, providing sales teams with richer information to further enhance our sales process.

Priority

Focusing our R&D investment on higher growth segments, prioritising our efforts on the most valuable product development opportunities, aligning with market developments and customer needs.


Progress in 2020

  • We have increased our new product focus and tailored solutions on customer-specific applications that provide higher growth opportunities. 
  • We have utilised cross-business technical capabilities and collaboration with external partners to accelerate the development of our priority projects.


Priorities for 2021

  • Continue to deliver priority projects in line with the planned roadmap.
  • Increasing the development of recurring revenue opportunities and upgrade paths throughout our product ranges.
  • Develop richer product roadmaps and breakthrough technologies through our restless innovation.

Priority

Sharing our expertise and knowledge to help our customers get the most from their relationship with Oxford Instruments, whilst leveraging our scale to deliver quicker response times and increased local support.


Progress in 2020

  • We launched and made good progress with our customer services transformation, generating tailored support packages and products specific to end applications.
  • We have invested in technology to enable increased levels or support remotely, helping drive efficiencies for our customers and our teams.


Priorities for 2021

  • Continue with the transformation of our services provision, enabling it to become a key product portfolio within the Group.
  • Develop our online offering support to incorporate further training, e-commerce and access to technical experts.

Priority

Targeting improvements to deliver a step-change in strategic procurement, operational efficiency and logistics, providing a world-class experience for Oxford Instruments' customers. 


Progress in 2020

  • We continued to transform our supply chain, to help reduce lead times and better leverage our purchasing scale.
  • We have reviewed and improved our supplier due diligence and audit procedures to ensure our suppliers share our zero-tolerance approach to all forms of modern slavery.


Priorities for 2021

  • Further strengthening relationships with suppliers, undertaking regular audits to ensure they continue to meet our high standards of operation.
  • Deliver further operational efficiency gains through our commitment to continuous improvement.

Priority

Identifying and developing the key capabilities our employees need to help them succeed and to deliver the strategy, whilst building a culture of accountability to empower our teams to own the challenge and the solution.


Progress in 2020

  • We have transformed how we are organised internally, our core capabilities and how we work with and support our customers and other stakeholders.
  • We have developed the Oxford Instruments Business System, which has formalised the processes and procedures for conducting business within the Group.

Priorities for 2021

  • Building on our career development framework with the delivery of a learning and development portal to give employees access to a broad portfolio of courses and tutorials, supported with bespoke training for different job families within the Group.

© Oxford Instruments 2021

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