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Industrial manufacturers are facing the biggest challenge to date: profitable sustainability. Not only do
you need to reduce emissions in your own operations and supply chains – but you also need to provide
products and services that help your customers do the same.
Adoption of Industry 4.0 technologies, such as the Industrial Internet of Things (IIoT), AI, intelligent automation, and edge computing, continues to grow. Not only do these technologies power smart, highly efficient machinery and factories, they provide the visibility and transparency needed to reduce emissions and comply with new regulations.
Increasingly, industrial manufacturers are adopting service-based business models and retaining more responsibility for their equipment, improving sustainability in two ways. First, when experts service their own machinery, they can ensure it runs at peak efficiency, and second, they are motivated to make better products that last longer and are easier to recycle.
In a recent survey, nearly half of industrial manufacturers said product and service innovation was central to sustainability. Large generator and engine manufacturers, for example, are working to design engines that can use hydrogen-based fuel to meet demand for greener products. Often, these products are bundled with services to further reduce downstream emissions.
Circular supply chains – where manufacturers reuse, refurbish, remanufacture, and recycle parts and products – are key to a more sustainable future. They can be profitable too. Using the right technologies, manufacturers can simulate revenue across multiple customer lifecycles and forecast the future value of valuable materials, like aluminum and gold.
