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Industrial equipment

4 Critical Challenges Facing Industrial Equipment Manufacturers

Modern manufacturers cannot afford to ignore the challenges coming their way, considering the cut-throat competition and the rapidly rising market demands. According to experts at Infiniti Research, some of the key challenges faced by industrial equipment manufacturers include industrial equipment manufacturers can come across include an incomplete view of their profitability, lack of insight into supply chain, and the means to collaborate productively across the various stakeholders. Although several industrial equipment manufacturing companies respond to these challenges by installing ERP systems, it may not be a complete solution to overcome these roadblocks.

To know more about how to tackle these business challenges facing industrial equipment manufacturers

Errors in quotation

The quotation is one of the foremost areas of focus for any business. An inaccurate quote or costing prevents businesses from making adequate profits as either all the elements are included or even the client can be lost due to high costing. Sales personnel need access to details so they can provide the right estimate and quote to their customers.

Portfolio management

Portfolio management for industrial equipment manufacturers include creating premium support offerings, connecting service offers to business value, and launching new service offers. Making this challenge a priority will facilitate industrial equipment companies to take more responsibility for improving customer outcomes with offers and that would be required to prove their value in order to sell these offers.

Get in touch with an expert from Infiniti Research to know how we can help you identify risks in advance and improve business outcomes

Service flow

In most cases, the scope of work for manufacturing companies may not end with the project assembly or manufacture. It could further involve transfer of project results to the base, which offers service opportunities like maintenance, repair, and overhaul services. This can cause several service integration issues for industrial equipment manufacturers.

Logistics inconsistencies

Industrial equipment manufacturers have a considerable amount of equipment and materials that need to move from the factory floor to production operations. Without the right support, this could lead to severe logistics inconsistency and confusion for industrial equipment companies. The companies in the industrial equipment manufacturing sector need to implement a solution that would help them plan the capacity of the machine so that the person in charge can assign resources to the machines based on the requirement.

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US packaging industry

European Industrial Packaging Market Intelligence Study – Infiniti’s Latest Success Story

Industrial Packaging Market Overview

The European industrial packaging sector is experiencing positive growth due to the rising demand in industries including food and beverage, construction, oil and gas, and consumer electronics. Also, rapid technological advancements and R&D across the globe are expected to drive the growth of the industrial packaging market over the coming years. These transformations have not only opened up new opportunities for companies in the industrial packaging sector but have also brought about new challenges. Consequently, companies in the industrial packaging market will need to identify the main challenges ahead and stay prepared.

Want to understand trends, challenges and opportunities in the industrial packaging industry? Our market intelligence solutions can help. Request a FREE proposal!

Business Challenge

The client is an industrial packaging company based out of Europe. The client serves the construction and heavy equipment suppliers in Europe.

The rise of new digital solutions, digitalization of the workforce, cost pressure, and sustainability issues posed major challenges for the client. Also, as the client solely relied on conventional packaging techniques, they were unable to deliver products on time while delivering the highest quality. As a result, the client’s existing customers were unwilling to renew deals with them. The client, therefore, approached the experts at Infiniti Research to leverage their expertise in offering market intelligence solution.

By leveraging Infiniti’s market intelligence solution, the client also wanted to tackle challenges such as:

Industrial packaging company challenge #1: Adoption of digital techniques

As digital packaging techniques not only helped industrial packaging companies to shorten production time but also in customization, security and traceability needs, the client wanted to identify the top companies in the European industrial packaging market leveraging similar technologies. Additionally, they wanted to evaluate the capital requirement for leveraging digital technologies and processes.

Industrial packaging company challenge #2: Digitalization of the workforce

The client faced challenges in efficiently communicating between internal (production) and external (printers and converters) teams. They noted that the leading companies in the European industrial packaging market have already leveraged automation processes to enable effective communication between the internal and external teams. Therefore, the company wanted to understand the challenges of leveraging automation processes and evaluate the capital investment required.

Industrial packaging company challenge #3: Sustainability issues

To tackle sustainability challenges, industrial packaging companies are under the need to process more advanced substrates, thinner materials, and more demanding designs. The client, therefore, wanted to identify approaches undertaken by their competitors to tackle this challenge.

Want to identify the lucrative opportunities in the European industrial packaging market to capitalize on? Our market intelligence solution can help. Contact us today!

Solutions Offered

Our experts followed a six-phased approach to help the client tackle the rising challenges in the industry.

  • A market opportunity analysis to analyze market trends and industry developments in the European industrial packaging market. This also involved a comprehensive analysis of the prevailing and potential market opportunities.
  • A competitive intelligence engagement to analyze competitors’ next moves and understand their strategies and business models.
  • A customer intelligence study to understand customer needs and requirements. In addition, this phase of the engagement involved identifying reasons for customer churn.
  • A competitive benchmarking analysis to analyze the client’s products and services in comparison to their competitors.
  • A demand management study to analyze factors impacting the product demand in Europe.
  • A technology assessment to identify cost-effective technologies leveraged by companies in the European industrial packaging market.

Results Obtained

Infiniti’s market intelligence engagement helped the client to capitalize on profitable opportunities and tackle the rising challenges in the market. Also, by efficiently investing into digital technologies and automation processes, they were able to shorten production time and enhance quality of the packaging material. Implementation of automation processes further helped them to enhance communication between the internal and external teams.

By thoroughly analyzing their competitors’ strategies and business models, they were able to identify cost-effective strategies where they invested on to yield profits. Also, a comprehensive analysis of their customers’ needs and demands helped them to personalize their product offerings for them. In addition, they were able to sign a profitable deal with a leading company in the heavy equipment manufacturing industry. Gradually, they were able to save 66% on operational costs.

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