B2B Manufacturing Insights | Q3 2024
With nearly 30% of all global CO2 emissions coming from the manufacturing industry, manufacturers are feeling increasing pressure to develop a sustainability plan for themselves and the products they design, manufacture, sell, and service.
Manufacturers that have yet to come up with a plan to understand their full product portfolio will find themselves struggling to keep up with the growing number of regulations and reporting requirements.
Increasing ESG Regulations on Products Require a New Solution
One significant new requirement coming to the EU is the Digital Product Passport (DPP). This digital record, soon to be required for all products sold in the European Union regardless of where they were manufactured, will contain comprehensive information about a product, from its raw materials and manufacturing processes to its energy consumption and end-of-life disposal options.
Shared Configuration Data: Simplifying Sustainability for Manufacturers
Using a shared source of product configuration truth across functions means that manufacturers can quickly respond to changing regulatory environments while offering their customers choices that align with their unique sustainability goals.
This edition of our B2B Manufacturing Insights Newsletter brings you the latest trends, expert analysis, and actionable advice on addressing the growing sustainability regulations facing B2B manufacturers.
💡 Analyst Insights
The number of manufacturing establishments in the United States grew by more than 11% between the first quarter of 2019 and the second quarter of 2023, approaching 393,000 by the end of the period.
Construction spending in manufacturing—that is, dollars invested to build new or expand existing manufacturing facilities—has nearly tripled since June 2020 and was up 37% year over year in January 2024 when it reached a record high of US$225 billion.
Read more in this recent Deloitte article.
By 2030, circularity will change the way large sectors of the machinery and equipment sector operate.
Profit pools will shift as companies embrace business models that preserve materials and extend the life span of machinery.
Circular operating models will reconfigure value chains. And as companies begin to decouple their growth from resource consumption, a new set of winners and losers will emerge.
Read more from Bain & Company how leaders use circular strategies to develop new sources of value and competitive advantage.
📖 Latest Blog Posts
Most people know what 'guided selling' is. But are you familiar with 'guided configuration?'
In this blog post, by Configit Senior Sales Engineer Tom Davidson explains the similarities and differences between guided selling and guided configuration, what can and cannot be achieved with each, and a short demo showing a guided configuration solution in action.
Often unearthed during digital transformations where messy systems, overlapping applications, and conflicting data create major headaches for IT teams, technical debt is a common struggle among global manufacturers.
This blog post by Configit Vice President, Product Marketing Daniel Joseph Barry explains how a CLM approach can provide an actionable, flexible framework companies need to harness the power of their data.
🗞️ In the News
Navigate ESG Regulations with Configuration Technology
The Art and Science of Designing Product Features
Recommended by LinkedIn
📺 Webinars and Tech Talks
🚀 View our most popular webinars on-demand and stay up to date on our latest content by visiting our BrightTALK channel.
🔦 Customer Spotlight
Premier Tech | Configit Ace® SaaS to Transform Manufacturing Efficiency
“Our decision to partner with Configit was grounded not only in Configit’s exceptional configuration technology, but also in its flexibility, openness and the team’s professionalism. Configit Ace® was the only offering we found that truly understood the challenges of complex configurations. We look forward to continued success as we implement Configit Ace® SaaS to further enhance our business model flexibility in meeting both market and customer demands.”
Wilhelm Bielert, Senior VP and CIO, Premier Tech Systems and Automation
Knauf | Leading Building Materials and Systems Producer Implements Configit to Enrich CPQ Process
“To manage product complexity, deliver what is promised and do so profitably, all product data across the organization must be aligned to a central configuration model. Configit’s solution helps us understand the impact of decisions being made when offerings change across the globe. Configit Ace® SaaS will provide a real backbone of our organization.”
Andreas Witt, Head of Customer Software and Technology, Knauf Digital
🗓️ 2024 CLM Summit
The 2024 Configuration Lifecycle Management Summit focused on how orchestrating product data across the enterprise streamlines and simplifies configuration processes and fosters visibility throughout the entire value stream.
Held over two days, May 15th – Business Day – showcased the business value created by orchestrating product data across the enterprise. Presentations and discussions demonstrated how transparency in the product configuration process supports increased product quality, faster sales and greater operational efficiency.
On May 16th – Technology Day – provided an inside look at the technology solving the most complex configuration problems in the industry through use-cases that demonstrate the potential and possibilities of having the right configuration technology and management approach in place to enhance sales and engineering performance.
Presentations from NVIDIA , MAN Energy Solutions , Premier Tech , PwC , PTC , and more are all available to watch on demand.
This September, Configit will be co-hosting a CLM Summit live in Turin, Italy with our partner Coolshop!
Read more about it, and purchase tickets, here.
⚙️ Product Update
Consolidate, compile and consume product models and configuration data on a shared-source-of-truth available to any user, at any location at any time.
A SaaS solution for enterprise-wide management of product variants and configurations throughout the lifecycle of the product portfolio, Configit Ace® delivers CLM-as-a-Service - a shared-source-of-truth for product configuration data that is accessible by any user when and where they need it.
The latest release of Configit Ace® enables disconnected configuration data across the enterprise to be consolidated and consumed as a secure, system-agnostic SaaS service.
Read more about the new features and benefits of Configit Ace® here.