一、运营管理的核心目标 在正确的时间，以合适的成本，用正确的方法，生产或提供正确质量的产品或服务，交付给客户，并持续优化。 二、运营管理的核心模块 1. 战略与目标设定 2. 流程管理与优化 · 公司战略解码： 将公司的愿景、使命转化为可执行的运营策略（如成本领先、差异化、聚焦策略）。 · 目标管理： 设定明确的、可衡量的运营目标（如OEE设备综合效率、客户满意度、库存周转率、交付准时率）。 · 流程规划： 设计核心业务流程，确保其与战略对齐。 · 标准化： 建立标准作业程序（SOP），确保工作的一致性和质量。 · 持续改进： 应用精益生产、六西格玛、Kaizen等工具，消除浪费，提升效率和质量。 · 数字化与自动化： 引入ERP、CRM、OA、RPA等系统，提升流程自动化水平。 3. 资源管理与优化 · 人力资本： 组织架构设计、岗位职责、绩效管理、培训发展、团队建设。 · 财务资源： 预算管理、成本控制、现金流管理、运营数据分析。 · 实物资产： 设备维护（TPM）、供应链管理、库存控制、厂房布局。 · 信息资源： 数据治理、IT系统维护、知识管理。 4. 质量与客户导向 · 全面质量管理： 从采购、生产 ...

Financial Data and Key Metrics Changes - Third quarter 2025 global sales from continuing operations totaled $2.8 billion, increasing 5% on a reported basis and 2% on an operational basis [17] - Adjusted earnings from continuing operations were $0.69 per share, reflecting a 41% increase versus the prior year [30] - Adjusted operating margin on a continuing operations basis was 14.9%, improving 40 basis points compared to the prior year [29] Business Line Data and Key Metrics Changes - Sales in the Medical Products & Therapies (MPT) segment were $1.3 billion, declining 1% due to softness in Infusion Therapies and Technologies [18] - Infusion Therapies and Technologies division sales totaled $1 billion, declining 4% primarily due to lower infusion pump sales [18] - Advanced Surgery sales totaled $306 million, growing 11% globally, driven by strong demand for hemostats and sealants [20] - Pharmaceuticals segment sales totaled $632 million, increasing 7%, with Injectables and Anesthesia division growing 3% [24] Market Data and Key Metrics Changes - U.S. demand for IV Solutions remains below pre-Hurricane Helene levels, with expectations for further recovery at a moderate pace [20] - Total U.S. capital orders for Care and Connectivity Solutions increased 30% compared to the prior year, indicating robust demand [23] - The company anticipates continued softness in specialty mix products within Pharmaceuticals, impacting overall growth [33] Company Strategy and Development Direction - The company is focusing on stabilizing business areas that require increased attention, strengthening the balance sheet, and driving a culture of continuous improvement [11][14] - A reduction in the quarterly dividend to $0.01 per share is planned to free up cash for deleveraging [13][31] - The company plans to launch an Investor Day in 2026 to provide deeper insights into long-term strategy and financial outlook [40] Management's Comments on Operating Environment and Future Outlook - Management acknowledges current performance challenges and emphasizes the need for immediate actions and long-term solutions [9] - The company expects operational sales growth of 1 to 2% for 2025, reflecting updated expectations due to evolving business dynamics [33] - Management remains confident in the strength of the IV Solutions business over the medium and long term despite current challenges [20][76] Other Important Information - The company has undergone significant transformation in recent years, becoming more streamlined and focused [11] - The introduction of Baxter GPS, a new growth and performance system, aims to drive continuous improvement across the organization [14] Q&A Session Questions and Answers Question: Vision for Baxter and future changes - Management emphasizes a focus on stabilizing business areas, strengthening the balance sheet, and driving a culture of continuous improvement [39][40] Question: Potential for positive growth in 2026 - Management anticipates growth but is not providing specific guidance for 2026 at this time [43] Question: Impact of Novum on guidance - The hold on Novum IQ Large Volume Pump is affecting sales, leading to customer evaluations of alternative solutions [57] Question: Free cash flow generation - Management expects continued positive free cash flow, particularly in the fourth quarter, and is focused on improving working capital [63][64] Question: Hospital CapEx and political impacts - There has been no observed slowdown in hospital capital spending despite political uncertainties, with robust order growth reported [78]