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

Technology is Key to the Target of Doubled Revenues by 2030

By scaling up these technology systems globally, the plan from SKF's new management under CEO Rickard Gustafson is to double the company's revenue by 2030.

It is clear that new technology is of enormous importance in these plans. For example, among SKF's 600 production lines there are older solutions where it can take weeks to switch production from one type of ball bearing to another.

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.

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.