Emerson's
planning process identifies and implements productivity programs to optimize all areas of
operations. For example, the Company continues to base its operations around the world,
both to serve customers locally and to benefit from cost advantages. 
Emerson also is introducing lean manufacturing techniques to shorten lead times and
improve customer delivery performance. This program will reduce inventory, freeing capital
for value-added activities. Early results have demonstrated thatsome plants can improve
inventory turnover by over 50 percent. In addition to internal efficiencies, Emerson is
focusing on materials procurement to identify further savings. The Company is implementing
an innovative Material Information Network to centralize procurement and optimize its
supplier base. .
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