Tyson Foods 2006 Annual Report Download - page 6

4Ty s on Foods, Inc. 2006 Annual Report
Tyson Foods is reigniting our passion
for innovation and creativity in all
areas of our business. With the initia-
tive P3, Powering Profitability through
Performance, comes a fundamental
change in mindset and a return to our
culture of agility.
P3has four main strategies: demand
creation, pricing optimization, supply
chain optimization and performance-
based alignment, all of which will
leverage our scale in the protein
industry.
•To create demand, we will take a
new approach to understanding
consumers’ needs and offer meal-
time solutions to fill those needs.
•Pricing optimization means using the
size and scale of our operations to
get the best price and margin for our
products while delivering value to
our customers and consumers.
•Supply chain optimization is
paramount to our success. We will
leverage our supply chain, opera-
tions and distribution capabilities
to create a more efficient and
cost-effective business.
•With performance-based alignment,
we will ensure performance meas-
ures align with our goals because
every Team Member is responsible
for Tyson Foods’ success.
There are a lot of things at Tyson
Foods we are proud of and will stand
by, like our Core Values, but we are
changing in ways that matter most
as we work toward the long-term
success of the Company.
Appetite for Change
As fiscal 2006 drew to a close, Tyson Foods was focused on returning
to profitability as soon as possible. Thanks to hard work from our Team
Members, we’ve made tremendous progress toward that goal. Now, as
we turn our attention to 2007 and beyond, we will transform Tyson
while raising the bar for product innovation.
Today’s
consumer is busier, more
focused on health and less comfortable in
the kitchen than any previous generation.
Tyson continues to innovate with new products
for every level of cooking skill and every
appetite. When someone asks, “What’s
for dinner?” the answer is
“Tyson.”