The Business Concept- Q4 2024 THE BUSINESS CONCEPT.
Welcome to the Q4 issue of The Business Concept. The Business Concept is dedicated to providing you with the latest, most intricate visions from across the business landscape. Globally, there is an endless amount of support for business development – and The Business Concept is here to showcase the solutions and assistance being provided around the world. Supporting businesses of all sizes, The Business Concept showcases excellence across a myriad of products, services, and projects that are continually elevating their industries and sectors. We invite you to peruse this issue to find out more. We hope you find this issue to be interesting, insightful, and inspiring, and we wish you a fantastic end to the year. Here’s to a prosperous and successful 2025 ahead. Sofi Parry, Senior Editor Q4 2024. AI Global Media, Ltd. (AI) takes reasonable measures to ensure the quality of the information on this web site. However, AI will not assume any legal liability or responsibility for the accuracy, correctness or completeness of any information that is available through this web site. If errors are brought to our attention, we will try to correct them. The information available through the website and our partner publications is for your general information and use and is not intended to address any particular finance or investment requirements. In particular, the information does not constitute any form of advice or recommendation by us or any of our partner publications and is not intended to be relied upon by users in making or refraining from making any investment or financial decisions. Appropriate independent advice should be obtained before making any such decision. Any arrangement made between you and any third party named in the site is at your sole risk and responsibility.
Contents 4. News - Emerging Tech Shaping the Landscape of Manufacturing Across Europe - Late payments are the biggest cause of cash flow stagnation for UK SMEs, according to Allstar insights 6. Bali Express Services: Best Logistics & Cross Border Services Provider 2023 - West Coast USA 8. The Impact of Lithium Prices on the Future of Energy and Innovation 10. Customer Customisation Services: The Key Driving Force for Success in Machinery Enterprises
News. 4 Emerging Tech Shaping the Landscape of Manufacturing Across Europe In Europe, the manufacturing market is expected to grow by 3.93% by 2028, reaching a whopping value of £2.83 trillion. As the world continues to change and priorities shift, the European manufacturing industry is finding several ways to keep up with technologies, emerging trends, and ecoconscious strategies. For example, by 2030, 60% of all manufacturing production will make use of sustainable practices, meaning that the sector is trying to play a significant part in preserving the well-being of the planet. But what other innovations are driving this thriving industry forward? Welding Alloys, a leading expert in hardfacing for welding businesses, explores what exciting tech trends are gradually shaping the new manufacturing landscape. Additive manufacturing (3D printing) Additive manufacturing, also known as 3D printing, is one of the most popular innovations embraced across the sector. Mario Cordero, Group Innovation Director at Welding Alloys, said: “3D printing is becoming an increasingly common solution to speed up production processes at a more favourable and affordable cost. “The beauty of this technology is that it allows businesses to create items layer by layer with computer-aided design (CAD) support. Through the help of this innovative tool, manufacturers can assemble complex designs that would otherwise be challenging and expensive to produce with more manual, conventional methods. “In this respect, 3D printing opens the door to customisations, too. Because every manufactured item is based on a digital blueprint, each product can be easily tweaked without the need for retooling. This is particularly useful for the healthcare and medical sectors, where splints, supports, and health devices can be customised to suit a specific patient’s diagnosis. “That said, the versatility of 3D printing can be extended to a wide range of businesses in the manufacturing industry, including aerospace, automotive, and consumer goods.” Robotics and cobots Robots and cobots are becoming a frequent sight in manufacturing industries in Europe and across the world. For example, in Germany alone, automotive companies are home to 1,500 robotic units for every 10,000 employees. The benefit of robots is that they can take care of a large array of tedious, physically demanding tasks while maintaining accuracy, efficiency, and quality throughout. What’s more, they can help reduce wastage and breakages caused by inconsistent finishings or below-par quality products. Nowadays, advanced industrial robots are equipped with sensors and artificial intelligence, meaning they can detect potential issues from the off and carry out a programmed motion with limited lag. As for ‘cobots’, these collaborative machines are built to share workspaces with humans, to keep people safe and to alleviate the demands of their jobs. For example, in hazardous environments, risky processes are often delegated to cobots, which can, in turn, prevent serious and avoidable injuries. Industrial Internet of Things (IIoT) The Industrial Internet of Things (IIoT) is an innovative, data-driven approach that allows businesses in the manufacturing sector to collect, monitor, and analyse production figures. With real-time data, companies can make more informed decisions and swiftly improve operations. What is truly clever about IIoT is that it also interconnects machines, devices, and appliances used in the manufacturing process. By communicating and sharing data, every machine reacts accordingly, resulting in more efficiency, budget-friendly costs, and betterquality products. IIoT can be widely used across the industry, benefitting pharmaceutical, chemical, electronics, and food and beverage manufacturing businesses. Augmented reality (AR) Another piece of modern technology that is slowly taking the manufacturing sector to the next level is augmented reality (AR). AR is already a prominent feature in the gaming and education industries, allowing users to interact with virtual items and increasing consumers’ engagement rates. By 2030, the AR gaming market is projected to be worth more than £22 billion. The good news is that AR’s characteristics can also benefit the manufacturing world, as it can optimise the training and development of new and existing employees. AR provides a safe, immersive platform where workers can learn and practice new skills without the worry of making costly or dangerous mistakes. So, for example, when aerospace engineers need to train for repairs to complex and sophisticated machinery, they can do so with confidence and much-needed peace of mind. As the manufacturing industry in Europe continues to evolve, more and more businesses are exploring new innovative trends to power their operations and increase efficiency, quality, and profits. From 3D printing and robotics to augmented reality and IIoT, several tech tools are helping the manufacturing landscape improve for the better.
5 News. Late payments are the biggest cause of cash flow stagnation for UK SMEs, according to Allstar insights • Late payments are the primary culprit for causing cash flow problems say 41% of businesses, Allstar research finds • Findings also reveal UK SMEs are spending up to seven hours every week managing costs and their cash flow • Late payments cost small businesses £22,000 a year on average according to the government Late invoices are the primary culprit for causing cash flow problems for businesses according to two fifths (41%) of UK small and medium-sized enterprises (SMEs) while making sure the bills are paid was an issue for a third (32%) and having access to emergency cash (21%) was also top of the list. That’s according to Allstar, one of the UK’s leading business, EV and fuel expense payment companies, which today launches its latest insights into the issues plaguing the nations small businesses. Late payments are costing small businesses £22,000 a year on average, with the government announcing the New Fair Payment Code. This will include new measures and a consultation to combat the issue, which leads to 50,000 business closures a year. The research, which surveyed 500 SME business owners and decision makers, completed with Censuswide, found that over half (54%) cite cash flow an issue and up to 70% say that the burden of cashflow and admin has significantly hampered business growth. Cash flows are being impacted predominantly by inefficiencies, and just over half say they spend up to 6hrs managing costs and their cashflow. Burdened with a daily onslaught of challenges including cash flow management, SME owners are on the lookout for little wins that make their lives easier by removing points of friction and simplification. More than a quarter (28%) said that faster payment of invoices is the key to helping their business save time, and 27% say it would solve admin and cash flow problems. Businesses are able to drive down their cash flow headaches by harnessing the latest tools and products that could give customers up to 44 days interest free credit on all business purchases*, like Allstar’s all-in-one solution. Allstar Plus could help to make business payments and expenses easier to manage, as one relationship creates ‘less work’. Paul Holland, Managing Director for UK/ANZ Fleet at Corpay, including UK brand, Allstar, said: “It’s a tough climate for the UK’s SMEs; our insights show that one of the biggest issues that are impacting cash flow are late payments, something that kills 50,000 businesses in the UK every year according to the government. “That’s why business owners and proprietors are increasingly looking for ways to simplify their operations and improve efficiencies, making these arduous tasks less work. An all-in-one solution achieves this by enabling more simplicity and easier management.” “In doing so, SMEs can re-focus their attention to those big-ticket items that require their expertise and attention and will ultimately mean the business can focus on its own success and that of the economy. This way we all thrive.” To find out more about Allstar and its business payments solution, its Allstar Plus card visit: https://allstarcard.co.uk/solutions/businesspayments/allstar-plus or contact our expert team at: 0345 266 5101.
Best Logistics & Cross Border Services Provider 2023 - West Coast USA According to the Department of Transportation, almost 35,000 trucks cross the US/Mexico border each day – and it was in April 2024 that an electric freight truck – specifically a Peterbilt Model 579EVs – made this journey for the first time through the Otay Mesa Port of Entry, which connects Southern California to Tijuana. This momentous occasion was the result of a partnership between Bali Express Services and SDG&E, and it represented how the power of collaboration can lead to brilliant innovation and ultimately progress towards decarbonising freight transportation. In this project, SDG&E built and installed 3,600 charging stations to create dependable and accessible charging options for medium- and heavy-duty electric freight trucks crossing the US/Mexico border. This was completed as part of SDG&E’s Power Your Drive for Fleets program, which connects fleet operators with resources and financial incentives to allow them to easily and affordably design and install charging stations. In this instance, these chargers were in part funded by a $200,000 grant through the California Energy Commission’s Clean Transportation Program, which is the provider of more than $1 billion in alternative fuel and vehicle technology projects designed to deliver health, environmental, and economical initiatives for communities. Owner of Bali Express, Juan Baez expressed his great joy at the opportunity to work with SDG&E on such a bold and groundbreaking project. With the addition of electric freight trucks to his company’s fleet, it is not only reducing its own carbon footprint, but it is also blazing the trail for other logistics businesses within the industry, setting the benchmark for a more sustainable future in freight transportation. Bali Express is proud to be leading this transition with the first ever electric truck US/Mexico border crossing. “Very professional and knowledgeable staff in their field: logistics, transportation, customs.” Additionally, San Diego’s Mayor Todd Gloria shared his delight at how such an event shows the city’s dedication to innovation, cross-border cooperation, and its binational community. Not only is this project looking to contribute significantly to San Diego’s work towards reducing its emissions, but Mayor Gloria cites how the city envisions an overall greener future for the people who live near its border, as well as to lead the way in the areas of international trade and environmental responsibility. Of Bali Express’ 399 trucks, 16 of these are now electric, and 11 have begun making cross-border journeys, with two travelling between Tijuana and San Diego per day, from Monday to Saturday, and making 132 crossings per week to fulfil its service to maquiladoras across the Baja California area and US. With the introduction of electric vehicles to its fleet, Bali Express is now well on the way toward complying with the zero-emission fleet regulation that will be coming into place in 2035 for transport companies operating across California. As such, Juan does see it as crucial to be preparing for this now, taking steps to test the new technology and electrify the entire company’s fleet. To support this, Bali Express is looking to take advantage of the 40% financial incentive offered by the state of California for transport companies that utilise electric trucks – which, it is worth noting, cost three-times more than diesel trucks. “This carrier was very easy to work with, offered a fair rate on our lane, their dispatcher stayed on top of the updates through email, plus the driver used Macropoint to make tracking easier, and it worked the whole time. Load was delivered on time as expected.” Bali Express’ steadfast commitment to sustainability is evident, and it is equally devoted towards ensuring its clients receive a service that is nothing short of outstanding, transporting their cargo from A to B in a way that is secure, efficient, and reliable. The company’s highly experienced team are trained according to CTPAT (Customs Trade Partnership Against Terrorism) standards, while also being highly knowledgeable in US and Mexican custom documentation. As such, they are extremely well-versed in delivering intermodal services inclusive of efficient container pickup and delivery, strategic location access, inventory management, and comprehensive support. And the company’s transportation methods don’t only cover road, but also ocean, rail, and air. It takes the safety of all cargo seriously, employing a comprehensive 24/7 monitoring system, thorough inspections by its certified K9 team, and vigilant guards for all cross-border shipments. In addition, the company’s use of DOT-approved electronic logbooks, real-time Founded in 2007 and headquartered in Otay Mesa, San Diego, just north of the US/Mexico border, Bali Express Services (Bali Express) provides superior logistics and cross border services for organisations throughout the US and Mexico, including the likes of Whalen, Foxconn, Kyocera, and TCL. With a strong commitment to environmental sustainability, Bali Express is constantly innovating and evolving, utilising zero-emission trucks and eco-friendly practices in order to reduce its impact on the environment. Recently, its partnership with SDG&E (San Diego Gas & Electric) resulted in the historic first crossing of a heavy-duty electric freight truck across the US/Mexico border – an exciting industryfirst that is paving the way towards a net-zero future in the binational region.
The Business Concept- Campaign 2024 | 7 The Business Concept- Campaign 2024 | 7 GPS tracking, driving hours systems, smart driving alerts, and more ensure it is always attentive to its drivers’ activities. These measures, as well as others, are integral parts of the service that Bali Express delivers for its customers. It is also continuously working to improve its processes, training, and resources in order to meet the expectations of all its customers. Ultimately, it is easy to see how Bali Express Services came to see success within the Logistics Warehouse and Supply Chain Awards 2023. Between its exceptional and cost-effective service offering; its expert, trained team; and its state-of-the-art fleet that is becoming increasingly eco-friendly, it has become a true lighthouse within the logistics space. With its proven reliability and glowing reputation, customers have complete peace of mind when it comes to the transportation of their goods. All of that is without even mentioning how the company is leading the binational logistics carbon neutral revolution and the first to cross the US/Mexico border with an electric truck. With that, we at The Business Concept magazine bestow Bali Express Services with the well-deserved title of Best Logistics & Cross Border Services Provider 2023 - West Coast USA – and we look forward to seeing what else this remarkable company has in store in what is an undoubtedly bright future ahead. Company: Bali Express Services Email: [email protected] Website: https://baliexpservices.com/
The Business Concept- Campaign 2024 | 8 Jul23400 The Impact of Lithium Prices on the Future of Energy and Innovation Lithium plays a pivotal role in powering the modern world. Its importance has surged due to its use in batteries for electric vehicles (EVs), renewable energy storage, and countless portable devices. However, the fluctuating price of lithium has far-reaching implications for energy innovation and sustainability. Why Are Lithium Prices So Volatile? Lithium prices are influenced by a combination of supply chain constraints, rising global demand and geopolitical factors. For example, between 2021 and 2022, lithium prices increased by over 400%, driven by the rapid growth in EV sales and limited mining capacity. As new deposits are developed, prices may stabilise, but short-term volatility is likely to persist. Increased demand from the EV market is a primary driver of price hikes. In 2022, EV sales grew by 55% globally, further straining lithium supplies. This surge in demand highlights the urgent need for efficient extraction and recycling methods to meet the growing requirements without excessive price fluctuations. What Is the Link Between Lithium Prices and Electric Vehicle Adoption? Lithium-ion batteries account for a significant portion of an EV’s production cost. As lithium prices rise, the cost of EVs can increase, potentially slowing down their adoption. Governments and manufacturers are working to offset this by offering subsidies and investing in battery innovation. However, a sustained rise in lithium prices may hinder affordability, making EVs less accessible for middle-income buyers. For instance, in the UK, the price of EVs is still considerably higher than their petrol counterparts, and battery costs are a significant factor. If lithium prices remain elevated, the transition to a greener transport sector could face delays. How Does Lithium Pricing Impact Renewable Energy Storage? Lithium-ion batteries are not just essential for EVs; they also play a critical role in renewable energy storage. Solar and wind power generation relies heavily on energy storage systems to balance supply and demand. Rising lithium costs could increase the price of these systems, slowing the shift to renewable energy sources. For example, utility-scale battery storage projects, which are crucial for stabilising renewable energy grids, become less economically viable when lithium prices surge. This creates challenges for countries aiming to meet ambitious carbon neutrality targets. Affordable lithium is therefore vital for global renewable energy efforts. What Are Some Innovations to Mitigate the Impact of High Lithium Prices? To address the challenge of rising prices, researchers and companies are exploring alternative battery chemistries. Sodium-ion and solidstate batteries are gaining attention as potential substitutes, but they are still in the early stages of development. While these alternatives may eventually reduce reliance on lithium, they are unlikely to replace it entirely in the near term. Another promising area is lithium recycling. Currently, only around 5% of lithium-ion batteries are recycled globally. Increasing this percentage could significantly reduce the pressure on mining operations and stabilise prices. By recovering lithium from used batteries, the industry could create a circular supply chain, minimising waste and mitigating price volatility. What Is the Role of Mining and Geopolitics in Lithium Prices? Lithium production is concentrated in a few key regions, including Australia, Chile and China. This geographic concentration makes the market vulnerable to supply disruptions caused by political tensions, environmental regulations or logistical challenges. For instance, stricter environmental policies in Chile, a major lithium producer, could limit output and push prices higher. Furthermore, China’s dominance in lithium processing and battery manufacturing gives it significant influence over global prices. As other nations, including the UK and the US, attempt to reduce dependence on Chinese supplies, competition for raw materials could intensify, further impacting prices. What Are the Broader Economic Implications of Lithium Price Trends? Lithium prices are not just an energy issue; they also have broader economic implications. Industries that rely on lithium-ion batteries, from tech to automotive, are directly affected by price fluctuations. In 2022, the global battery market was valued at approximately £90 billion, with lithium-ion batteries accounting for the largest share. Sustained high prices could slow growth in this sector, impacting job creation and technological innovation. Additionally, high lithium prices may influence investment decisions. Companies may hesitate to commit to large-scale battery projects if they anticipate prolonged cost pressures. This could have a ripple effect on innovation, delaying advancements in energy storage and mobility technologies. A Statistic Highlighting the Stakes A stark statistic underscores the importance of addressing lithium price volatility: the global lithium-ion battery market is projected to reach £135 billion by 2030, driven by the rising demand for EVs and renewable energy solutions. However, this growth is contingent on maintaining a stable supply of lithium at reasonable prices. Without intervention, the ambitious goals of decarbonising transport and energy systems may face significant challenges. How Consumers and Businesses Can Adapt Consumers and businesses can take proactive steps to mitigate the impact of rising lithium prices. For individuals, choosing energy-efficient devices and adopting EVs with smaller battery packs can help. Businesses, meanwhile, can explore energy management systems that optimise battery use and consider investing in alternative storage technologies.
The Business Concept- Campaign 2024 | 9 Jul23056 Governments also play a crucial role in addressing the issue. Policies that incentivise recycling, support research into alternative battery chemistries, and streamline mining regulations could help stabilise the market. International cooperation will be essential to ensure a reliable and sustainable lithium supply chain. A Sustainable Future Depends on Lithium Despite its challenges, lithium remains a cornerstone of the energy transition. Its unique properties make it irreplaceable for highperformance batteries, and demand is only expected to grow as the world moves towards electrification and decarbonisation. Managing its supply and stabilising prices will be critical for a sustainable future. In conclusion, the impact of lithium prices extends far beyond the battery industry. From EV adoption to renewable energy storage and technological innovation, the stakes are high. By investing in recycling, alternative technologies and stable supply chains, society can navigate the challenges posed by lithium pricing and ensure a cleaner, greener future for generations to come.
In the global machinery industry, companies face increasingly fierce competition and constantly changing market demands. To maintain competitiveness and achieve sustainable development, companies must adopt specific management methods and behaviours. This article will focus on “customer customization services” as the core concept of machinery enterprises’ operations, showcasing how it permeates various aspects and brings success to companies. In-Depth Understanding of Customer Needs In today’s market, customer needs are becoming more diverse, and companies must deeply understand specific requirements to provide targeted solutions. Machinery companies can identify the needs of different market segments through market research and close communication with customers. For example, KraussMaffei discovered a growing demand for lightweight and high-performance components in the automotive industry when entering the plastics and rubber processing machinery market. Through in-depth analysis, KraussMaffei customized a series of specialized injection moulding machines to meet this specific demand. The process of understanding customer needs extends beyond initial market research and requires ongoing tracking and analysis. Companies can leverage data analysis tools to extract valuable insights from historical sales data and customer feedback. By establishing customer profiles, companies can better identify target customer groups and accurately grasp changes in their needs. For instance, a machinery manufacturing company analysed customers’ purchasing history and identified that demand for certain parts significantly increased during specific seasons. This insight allowed them to adjust inventory management and production planning accordingly to ensure they could quickly meet customer needs. Flexible Product Design and Development Once customer needs are understood, companies need to flexibly adjust their product design and development processes. By adopting a modular design concept, companies can quickly modify product configurations according to different customer requirements. This flexibility enables companies to launch new products in a shorter time frame while maintaining market competitiveness. For example, a company specializing in crane production adjusted the functions and configurations of their cranes based on customer feedback and market trend analysis, introducing various models such as cantilever cranes and portable gantry cranes to suit different construction environments and customer needs. This flexible development not only enhances customer satisfaction but also strengthens brand loyalty. During the product development process, companies should encourage teams to innovate and try new design concepts and technologies. For example, a machinery company incorporated smart technology in developing the next generation of cranes, adding remote monitoring and fault diagnosis features, making equipment usage safer and more efficient. This innovation not only met customers’ expectations for high performance but also established a positive brand image in the market. Efficient Production and Supply Chain Management To support customer customization needs, companies also need to optimize production and supply chain management. By introducing advanced production technologies and management systems, companies can achieve efficient production processes. Adopting lean production methods not only reduces waste but also enhances production efficiency. For instance, a machinery company implemented lean production to quickly adjust production plans based on customer orders. This efficient production capability enables the company to respond swiftly to changing market demands while maintaining reasonable inventory levels and reducing capital occupancy. At the same time, companies should consider establishing close collaborations with suppliers to ensure timely delivery of raw materials and components. By sharing demand forecasts and production plans with suppliers, companies can better coordinate resources, reduce production cycles, and improve customer satisfaction. Additionally, using information management systems such as ERP can monitor production progress in real time, ensuring efficient collaboration across all departments. Continuous Customer Communication and Feedback Continuous customer communication is crucial in providing customized services. Companies should establish effective feedback mechanisms and regularly engage with customers to understand their product usage experiences and improvement suggestions. Such interactions can not only enhance customer satisfaction but also provide valuable market information to the company. KraussMaffei collects customer feedback through regular follow-ups and surveys, addressing issues raised in the feedback. This customercentric culture has allowed the company to maintain its competitive advantage in the market. Companies can also interact with customers through social media and online platforms to collect real-time feedback, enabling timely adjustments to service and product strategies. Employee Training and Team Collaboration Providing high-quality customer customization services requires a well-qualified team. Companies should focus on employee training and development to enhance their professional skills and service awareness. By establishing cross-departmental collaboration mechanisms, information can flow smoothly between different departments, enabling better fulfilment of customer needs. Data-Driven Decision Making Data-driven decision making should also be a core component of mechanical enterprises. With the acceleration of digital transformation, companies can leverage big data and analytical tools to deeply explore market trends, customer preferences, and operational efficiencies. Customer Customisation Services: The Key Driving Force for Success in Machinery Enterprises
11. The Business Concept- Campaign 2024 | 11 By collecting and analysing large amounts of data, enterprises can gain profound insights into customer behaviour and needs. For instance, a certain machinery company discovered through data analysis that specific products performed better in certain regions than in others. This information helps them make more targeted marketing investments, ensuring effective resource utilization. Simultaneously, analysing data from various supply chain segments allows enterprises to more accurately predict demand fluctuations, ensuring a timely supply of raw materials and components while reducing inventory costs. In terms of employee training and team collaboration, data analysis also plays a crucial role. Companies can utilize employee performance data to identify training needs and create customized training programs, enhancing employees’ professional skills and service awareness. This way, teams are better equipped to understand and meet customer needs, and they can swiftly respond to the complexities of the market. Conclusion “Customer customization services” as the core concept of machinery enterprises’ operations permeates all aspects from market research to product development, production management, and customer feedback. By deeply understanding customer needs, flexibly adjusting product design, efficiently managing production and supply chains, maintaining continuous communication, and investing in employee training, companies can not only enhance customer satisfaction but also achieve sustainable development amid fierce market competition. This specific management behaviour and method provides a clear direction for machinery enterprises and emphasizes the importance of customer orientation in the modern market environment.
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