In a recent report, Fortune Business Insights projected a compound annual growth rate of 20.3 per cent for the green technology and sustainability markets. As part of the global effort to cut greenhouse gas emissions, businesses are creating sustainable products across agriculture, air and water pollution, renewable energy, carbon footprint management, sustainable infrastructure and more. Here Chris Billinge, business development director at supply chain specialist TFC, discusses the route to market for green technology, and how businesses can scale up smoothly.
The development of sustainable solutions goes hand-in-hand with the creation of technology in other areas, such as software, components, and manufacturing methods. To create the systems needed to help us achieve net zero emissions by 2050, design engineers require access to technical products that meet the specific needs of their application, which can be both new and complex.
For example, many green tech applications, particularly those that include electric motors, gearboxes or automotive transmissions, have high rotational capacity requirements. This can introduce challenges for surrounding components like retaining rings, which can lift out of place and cause the assembly to become unsafe. Therefore, it can be tricky to find a retaining ring that can withstand such high speeds.
Meeting industry needs
Component manufacturers have been innovating to meet the needs of sustainable product designers. One recent launch is Smalley Revolox™, a patented Self-Locking Retaining Ring created for specific applications with high rotational needs. It has a ‘dimple and slot’ design that locks into place as the ring rotates, preventing ring expansion. It is also more lightweight, safer and efficient than alternative retaining rings.
Another challenge is that many green tech designs require engineers to use fasteners and connectors in tight spaces. These must also be able to withstand the challenges of the environment, which can be particularly tough for renewable technologies like geothermal and wave power. One solution is wave springs, which offer similar loads and deflections to traditional coil springs at around half the axial height and come in custom sizes and materials to suit the application. Smalley wave springs, for example, are available in exotic materials that are designed to withstand extreme high and low temperatures such as at altitude or corrosive environments like subsea applications. Technology like this can enable designers to make the most of available space, while reducing assembly size, weight and cost.
Sustainable scale-up
Choosing components is one thing but sourcing them is a whole other board game. With global supply chains fragile, considering the supply chain strategy and devising a solid plan for component sourcing, management and supply early is a great way to futureproof a business. One leading strategy is vendor managed inventory (VMI), where a third-party partner takes responsibility for the supply of components direct-to-line. VMI can help unlock growth in businesses that are looking to scale up, by giving them exclusive access to key manufacturers of technical products, as well as streamlining the supply of C-class parts.
The best results come from working with a partner that offers a tailored VMI solution, one that works with production staff and takes the time to really understand your business, products, material flow and more. With VMI, manufacturers can benefit from a reduction in soft costs, by reducing vendor management, paperwork and inventory management, as well as a direct improvement in cash flow from ordering only what is needed. Manufacturers can also benefit from the knowledge and experience of the partner, who can identify areas to improve sustainability in other processes, such as by introducing biodegradable packaging or reducing waste.
Free from the noise of their supply chain, green and sustainable technology companies are left to focus on what they do best — engineer products for a better, greener, future.
TFC continues to strive for innovative, sustainable solutions, while helping its customers do the same. Are you looking for a VMI supplier to help you create sustainable manufacturing processes? Visit our website to find out how TFC can help https://tfc.eu.com/.
