Schaeffler furthers its transformation process with Agenda 4 plus One program

By Sophie Chapman
The automotive and industrial supplier based in Germany, Schaeffler, is continuing its transformation process. The Agenda 4 plus One program was launch...

The automotive and industrial supplier based in Germany, Schaeffler, is continuing its transformation process.

The Agenda 4 plus One program was launched by the firm in 2016 and has since expanded to feature 20 initiatives.

The program is divided into four categories, and an additional one: Customer focus, Operational excellence, Financial flexibility, and Leadership and talent management – and Securing long-term competitiveness and value creation.

The firm anticipates that by 2022, the program will have generated ABB an additional €300mn (US$370.43mn) in earnings.

The company also intends for the program to increase its EBIT margin – before special items – back up to its long-term average of between 12% and 13% in the same time frame.

SEE ALSO:

E-Mobility and Industry 4.0 are examples of the 20 initiatives within Agenda 4 plus One – both of which aim to expand and develop ABB’s product ranges in its Automotive OEM and Industrial divisions.

The program also features plans to build a 315,000sqm “factory of the future” in Xiangtan, China.

The facility is expected to cost €100mn ($123.47mn) and aims to be a flexible site and cost efficient through digital technologies.

“‘Agenda 4 plus One’ is our program for the future, a blueprint by which we are preparing the Schaeffler Group for the challenges of tomorrow,” stated Klaus Rosenfeld, CEO of Schaeffler AG.

“It is broad-based and encompasses 20 initiatives, including E-Mobility, Industry 4.0 and our Digital Agenda.”

“‘Agenda 4 plus One’ is the driving force behind our transformation. Because we want to be become more agile as well as quicker and bolder.”

Share

Featured Articles

Brooke Weddle: Manufacturing Needs A Rebrand

Brooke Weddle, senior partner at Mckinsey, sat down with Manufacturing Digital to discuss methods to address manufacturing's global hiring crisis

Immensa and Intaj Suhar partner to boost Omani manufacturing

MENA’s leading digital manufacturer Immensa has partnered with Intaj Suhar to enhance Oman’s localised manufacturing through digital inventory solutions

Bain & Company Report: OEMs and Digital Transformation

Bain & Company report urges original equipment manufacturers to embrace digital solutions and shift to a customer-focused mindset to stay competitive

The Factory of the Future: Manufacturers' Biggest Challenges

Smart Manufacturing

Dassault Systèmes Bring AR Manufacturing Showcase to London

Smart Manufacturing

Join Belden for a Free Webinar on Connected Plant Floor Data

Production & Operations