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How Leading Manufacturers are Driving Sustainability in the Aftermarket
In December 2024, Syncron hosted a workshop titled “Profit Meets Purpose: How to Embrace Servitization and Data-Driven Strategies for a Circular Future.” The event brought together industry leaders to explore how sustainability and profitability can co-exist in the aftermarket. As environmental awareness and regulations tighten, manufacturers are realizing the value of sustainable practices—not just for the planet but also for business success. This report outlines key findings and strategies from the event.
Key Insights
Sustainability as a Priority
29% of surveyed service leaders rank sustainability as a top priority in aftermarket operations, driving cost savings and competitive advantage.
Servitization for Sustainability
Transitioning to outcome-based services maximizes product lifespan and reduces waste. Example: Volvo generates 30% of its aftermarket revenue from refurbished products.
Circular Economy Barriers and Solutions
Challenges like inadequate processes, data, and infrastructure can be addressed through standardized procedures, data collection, and stakeholder collaboration.
Key Recommendations
Adopt Servitization Models
Focus on long-term sustainability and customer outcomes.
Optimize Data Usage
Centralize data systems to enable actionable insights and overcome legacy barriers.
Advance Circular Economy Initiatives
Build infrastructure, incentivize practices, and promote consumer acceptance.