• “Spotlight on the Future” Report Highlights How PLM and Digital Thread Solutions Address Key Challenges with Sustainability Data Accuracy, Availability, and Analysis 
  • Aras Research Finds That Three Out of Four Companies Feel Pressured by Regulation, Customers, Investors, and Employees to Become More Sustainable 

Most news invading my email client these days involves companies sending out some questionnaires and compiling a report. This one from PLM and Digital Thread developer Aras called “Spotlight on the Future 2024,” focuses on sustainability.

The report highlights that three out of four companies say they feel pressured by customers, investors, and even their own workforce to operate more sustainably. The research also uncovered a potential reason why in-demand sustainability initiatives are not implemented sooner: a majority of companies reported that in order to do so, they must greatly improve the collection and processing of their data.

“Progress towards greater sustainability is key to continuing economic advancement,” said Roque Martin, CEO of Aras. Whether in the U.S., Europe, or Japan, 90% of companies who took our survey say that management has already recognized that sustainability is an important contributor to future business success.”  

The so-called three Rs – reduce, reuse and recycle – already play a central role in the implementation of companies’ sustainability goals. 83% of the companies surveyed said that the lower consumption of raw materials and products is already a high priority. In addition, 70% of companies are already relying on the use of recycled machines, the conversion of existing systems, and the return of materials to the economic cycle. Interestingly, with 84% of companies reducing, 72% reusing, and 70% recycling, industrial companies in the United States are at the front of the pack when compared to other nations’ sustainability efforts. 

74% of respondents acknowledge that they are missing data (i.e. from suppliers); 72% of companies said they have poorly prepared data; and 67% admit that they simply lack the ability to properly manage their data. 

A throwaway economy is being replaced by a production model based on reuse. However, for the transition from linear resource processing to a circular economy to succeed, companies have to think about and plan their development and production processes differently. To fully take advantage of the green potential, companies must not only collect and analyze their data from the design and manufacturing phase, but also integrate the supply chain. 

Aras’ “Spotlight on the Future 2024” study, conducted in December 2023, surveyed 835 executives from Europe, the US, and Japan. Survey participants work in companies with a minimum turnover of 40 million euros in the automotive, aerospace & defense, mechanical engineering, medical technology, chemicals, pharmaceuticals and food industries.

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