SKF’s relatively new CEO, Rickard Gustafson, plans to double the company’s revenues by 2030

<p style="text-align: center;"><span style="font-family: arial, helvetica, sans-serif; font-size: 14px;"><img src="/ueditor/php/upload/image/20220927/1664266988117984.png" title="1664266988117984.png" alt="4.png"/></span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 14px;">Technology is Key to the Target of Doubled Revenues by 2030</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 14px;"><br/></span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 14px;">By scaling up these technology systems globally, the plan from SKF&#39;s new management under CEO Rickard Gustafson is to double the company&#39;s revenue by 2030.</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 14px;"><br/></span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 14px;">It is clear that new technology is of enormous importance in these plans. For example, among SKF&#39;s 600 production lines there are older solutions where it can take weeks to switch production from one type of <a href="https://www.freerunbearing.com/products/Ball-Bearing/79.html" target="_blank" style="color: rgb(0, 112, 192); text-decoration: underline;"><span style="font-family: arial, helvetica, sans-serif; font-size: 14px; color: rgb(0, 112, 192);"><strong>ball bearing</strong></span></a> to another.</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 14px;"><br/></span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 14px;">What the company sought with the three pilot plants is to create lightning-fast flexibility, with hours instead of weeks to change production lines between different batches. It is a given that if this can be implemented, it has enormous potential to sharpen production efficiency, time to market and also be able to produce significantly larger volumes overall.</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 14px;"><br/></span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 14px;">SKF is not there yet, but automatic re-setting solutions are in the pipeline. I will discuss that future and how it this digital transformation was done in the next article.</span></p><p><br/></p>