Manufacturers cite “significant improvement” in revenue growth, product innovation and energy use from sustainable product development, according to new study
In particular, according to independent market research and analyst firm, Four Winds Research, select manufacturers are experiencing not only a significant improvement in energy use, but a significant improvement in revenue growth and innovation, as well, as a result of their sustainable product development efforts.
That’s good news, because in today’s tough economic climate – it’s the ability to not only address environmental or social concerns, but to drive business forward -- that companies need most.
But some companies are beginning to realize that they can do both. While the cost-savings and environmental benefits of improved energy efficiency, waste reduction, or a reduced carbon footprint are often cited as key benefits of employing a leaner, more sustainable approach to design and manufacturing, the research suggests that additional financial benefits are also possible.
For many, it may come as somewhat of a surprise that a growing number of organizations – from automotive and aerospace manufacturers to makers of high tech electronics products and industrial machinery – cite increased revenue growth, as a result of their organizations’ sustainable product development efforts, with some even seeing a significant improvement in both revenue growth and innovation. In addition, many manufacturers are experiencing improvements in product quality, as well, according to the research.
So, how do they do it? Nearly sixty percent of those surveyed indicate that their company leverages lean or green design strategies (i.e. fewer parts, less material, reduced complexity) to achieve cost savings and minimize environmental impact, while nearly fifty percent indicate that they employ design for sustainability (DfS) principles and lifecycle thinking to support ROI across the triple bottom line (people, planet, profit).
In addition, early findings reveal that approximately thirty-five percent of manufacturers surveyed indicate that product design software is “used widely” to identify and evaluate more sustainable design alternatives; and over thirty percent use “up-front” LCA (lifecycle assessment) tools and methodologies during the conceptual design phase to identify and estimate the potential environmental impacts of design decisions. Also, in seeking to achieve their sustainable product design objectives, companies also most often cite “the ability to identify and use more eco-friendly materials in our products” as a top priority.
It’s all part of next-generation product design, a topic that is explored in greater detail in the new research study, “Sustainable Product Design and Manufacturing: What’s Happening Now… and What’s Ahead?” To learn more, or to participate in this research effort, see: Participate in a New Sustainable Product Design and Manufacturing Research Study and Be Eligible to Win an iPad 2!
For more information, contact: Amy Rowell at amy.rowell@fourwindsresearch.com.
About Four Winds Research Four Winds Research is an independent market research and analysis firm focused on topics related to sustainability. Its current research efforts are centered around identifying the key issues and challenges facing designers and engineers today as they attempt to create sustainable products; understanding how organizations can effectively apply sustainability principles in product design and development both internally and across the supply chain; and the critical role that sustainability metrics, tools, and technologies promise to play in product design and manufacturing in the coming decade. To learn more, see: www.fourwindsresearch.com
