Stainless and special steel 4.0 – Productivity potentials in our Industry
The last seven years have been tough for the industry, but the worst should now be behind us.
Investment cycles on the supply and demand side of the market were largely to blame, first the market was booming as stainless consumers including those in China invested heavily. Then, supply side investments mostly originating in China followed and took raw material prices to new heights.
In 2009 the party was over and the hangover began. Now, seven years later the market has hit the bottom, overcapacity is beginning to decline and consolidation is gaining momentum.
The disruption from China has taught the industry around the world one key lesson: No more luxuries and a strict focus on the bottom-line! Staffing was cut and non-core businesses were given up.
Wait until improved market conditions bring back profits? Or, try to pursue business more intelligently and ask what are we selling, to whom and how? Digitalization and Industry 4.0 provides us with powerful tools to enhance productivity, shorten delivery times and reduce working capital.
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