SUSTAINABILITY
TXI works to understand digital product user behaviours and needs , then build platforms and applications that help meet them . For manufacturers , this can involve engaging with their customers in new ways , understanding shifts in their ordering and purchasing processes , and developing new , innovative tools and product offerings that serve an evolving industrial market . The result is great process flexibility , increased productivity and revenue , and higherquality production .
Hehman himself is fascinated by what ’ s dubbed ‘ the Titanium Economy ’ and its evolving role in manufacturing . Coined by
McKinsey consultants in a book with the same name , the titanium economy refers to a group of over 4,000 small-to-midsize industrial firms that have transformed their business with technology over the last decade .
“ The average consumer doesn ’ t know their name , but they develop the parts and materials ( think : truck parts , plastic lumber , and colour enamels ) for things we use every day . Further , their business performance has rivalled that of flashier tech companies over the last decade ,” explains Hehman . “ These under-appreciated firms are developing a digital-first culture of innovation and using it to transform their operations with technology . As they shifted from traditional manufacturers to industrial technology companies , they didn ’ t just revamp old processes with automated equipment — they ’ re adopting new ways of thinking that lead to new product applications , custom offerings , and sustainable manufacturing methods .”
Naturally forward-thinking , titanium economy companies are leaders in decarbonising operations and accelerating green initiatives .
“ Consumer and investor pressures for sustainability create opportunities for manufacturing companies to differentiate themselves by providing green alternatives to traditional materials and energy sources ,” explains Hehman . “ Companies that are vocal about their sustainability progress also find it easier to align talent and supplier relationships with their values .”
The manufacturing sector – from the Titanium Economy to newly-founded companies – is clearly moving in a sustainable direction not because it ’ s a popular choice , but because it gets results .
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