Website for sustainable business, 2degrees, hosts webinar promoting remanufacturing as “a low risk source of additional profits”.
CRR reported on the webinar, which was hosted by 2degrees on 19 November with the aim of providing an introduction to remanufacturing and the potential economic benefits it could bring to businesses in the UK.
The 45-minute webinar, titled “Remanufacturing: A low risk source of additional profits”, included contributions from Dr Greg Lavery, CEO of Lavery Pennell – a company that acts as an advisor for businesses looking to become “more profitable and more sustainable” and author of the “Next Manufacturing Revolution” report; as well as Matt Bulley, Managing Director at Caterpillar Reman, a remanufacturer in the auto, industrial and electronics markets.
While Lavery provides an introduction to remanufacturing and outlines the economic benefits it could have in the UK, arguing that it allows manufacturers to increase profits whilst reducing supply risks of raw materials; Bulley explains Caterpillar’s business model for its remanufacturing business, providing a number of examples of products the company remanufactures, which spans 700 products across various sectors.
The webinar also highlights that currently just one percent of the UK manufacturing sector’s turnover is generated from remanufacturing, despite the “Next Manufacturing Revolution” report suggesting that remanufacturing has the potential to create an annual value of £5.6 billion ($9.1 billion/€6.7 billion) for manufacturers in the UK, as well as the ability to support 310,000 manufacturing jobs and to reduce the country’s greenhouse gas emissions.