The production, sale, and service of equipment are the traditional business model of many hardware-oriented industries. Digital, however, promises to be a game changer for all segments, whether product, project, or process industries.
Machinery companies have started to innovate their business models. One-fourth of respondents to McKinsey’s Periscope Machinery and Industrial Automation survey reported that their companies have digitized their service, spare parts, and consumables business, and more than two-thirds are planning to do so.
A higher commitment to digital results in business success. The more digitally mature a company is, the better its performance is along two key indicators: TRS and revenue growth. Though most companies across industries have ventured into the digital space on some level, less than one in ten are highly mature, and these are the companies reaping digital’s largest benefits. Compared to the least mature, the most digitally mature companies see three-year TRS rates nearly three times larger and five-year CAGRs more than four times larger.
> Read the full article on the McKinsey website
By Jürgen Meffert, Mark Patel, and Rupert Stuetzle
Source: McKinsey
Every year, Earth Day reminds us of our responsibility to nurture the planet that nourishes us. This year, let’s turn our focus to the very foundation of our lives – food. From farm to fork, the food industry has a significant impact on the environment. This collection of articles explores innovative, tech-driven, and practical solutions for building a more sustainable food system.
Research found compostable plastic packaging and products broke down successfully across five composting methods used in the facilities, achieving 98% disintegration on average by surface area, which exceeds industry thresholds to achieve a 90% or higher disintegration.
Are consumer demands around sustainability changing the way that the food and beverage industry operates? Research from world leading food processing and packaging solutions company Tetra Pak reveals that consumers are demanding a reduction in plastic packaging – and business leaders are responding.
