Together with ToolsGroup, Optilon extends congratulations to SKF, which edged out tough competition from other finalists Shell Lubricants and Siemens to win the 2020 Gartner Supply Chainnovator Award in the Industrial category. SKF’s use of a digital twin for analytics to support integrated planning demonstrated exceptional supply chain innovation.
According to Gartner, “the Gartner Supply Chainnovator Awards is an annual research program that identifies, assesses and awards outstanding examples of Supply Chain Innovation. The goal of the award is to identify the innovative, unconventional and high-impact initiatives leaders are working on and investing in to drive the transformation of their supply chains.”
SKF is a Swedish-based company best known as the world’s largest producer of bearings that go into everything from Formula One racing car wheels to the passenger pods on the famous London Eye tourist attraction. Serving more than 130 countries, 40 industries and 17,000 customer distributors/dealers, SKF’s vast supply chain includes 94 manufacturing plants in 24 countries worldwide.
Every fifth item in stock could be unnecessary at a Swedish average company. This is shown in a new report from Optilon. For Sweden's 100 largest companies this has an impact of SEK 93 billion / EUR 8.7 billion - that could be invested in more growth promoting activities. The most unnecessary industry vertical is tech and life sciences, and the least unnecessary is industrial and natural resources.