In recent times, globally significant events such as COVID-19 have provided business leaders within the manufacturing sector a unique opportunity to positively transform their operations.
In an article written by the World Economic Forum (WEF) titled Global Lighthouse Network: Four Durable Shifts for a Great Reset in Manufacturing; it coined this transformative opportunity, the ‘Great Reset’. The article outlines how firms can create new long-term value, particularly in relation to climate innovation and sustainability, by using technology to achieve four durable shifts in manufacturing.
These shifts included:
- Improved agility and customer centricity;
- Supply chain resilience;
- Speed and productivity enhancements and;
To highlight the extent of the opportunity, WEF spearheaded a global lighthouse network of 54 advanced manufacturing facilities across the world who urgently responded to new normals by using technology to improve the sustainability of their sites.
It concluded that the exemplar companies who demonstrate commitment to merging the implicit knowledge of their employees with technology will be ideally positioned for the opportunities that a post COVID world presents.
Now is the Time for a Great Reset
Despite the opportunity for a sustainability led ‘Great Reset’, the IEA has issued a stark forecast for 2021. They have predicted that 2021 could surpass previous years in terms of CO2 emissions with an additional 1.5 billion tonnes forecast to be emitted. This is due primarily to coal fired electrical power plants being brought back online to cater for the increased economic activity as the world emerges from COVID-19.
Supporting You on Your Own Great Reset
CIM has been working with several of the WEF lighthouse sites to help them realise speed, productivity and Eco-Efficiency improvements. In fact, a ‘great reset’ could be another name for what CIM does for our clients. By using our software to upskill and align teams, we empower them to take a more proactive approach to solving problems.
Here, there is a transformative opportunity to improve the operational efficiency of manufacturing sites by using technology to achieve greater productivity out of existing assets. In the last four years alone, we have helped our clients save 141GWh of energy by extracting greater efficiencies out of assets using technology and data as the central point. To put this into context, if coal fired power plants, which operate at around 25-30% efficiency, produce 600-800 grams of CO2 for every kWh they’re running, then our energy savings are the equivalent of 94 tonnes of CO2 emissions. There lies the opportunity, if we can use technology to reset our manufacturing sector to make it more efficient, then we can reduce CO2 emissions and create a more sustainable sector.
The Great Reset Provides a High-Tech Future for Manufacturing
CIM’s award-winning PEAK Platform is a proven technology that integrates building analytics, artificial intelligence and technical engineering support to improve efficiency and sustainability across manufacturing sites. It brings a high-tech future to onsite teams that improves the visibility and transparency of data and allows them to detect operational inefficiencies within large energy consuming facilities in near real-time.
To create a more sustainable manufacturing facility, CIM is moving the dial in terms of demand side energy reduction. Alongside our Customer Success team, we’re providing actionable insights from existing data sets to reset large energy consuming equipment to operate at peak performance. This delivers a step change in Environmental, Social and Governance targets, a more productive team, and reduced energy consumption, CO2 emissions and costs. It also extends equipment life cycle and prevents unplanned downtime.
We shouldn’t need a pandemic to prompt us to take action here. So why not start your ‘Great Reset’ now?
To find out more information, talk to us today!