OCTOBER 202319Automotive industry is witnessing a shift towards light weighting, particularly with the use of aluminum to enhance sustainabilityCan you provide examples of how the industry adapts to meet evolving compliance requirements?Compliance is not just about following laws to avoid fines or even jail. Having control over our compliance is crucial for building and maintaining trust with customers, suppliers, other stakeholders, and the general public. Companies with the highest level of integrity are proven to be better workplaces, more sustainable, and more profitable. But it requires courage and a company culture spreading from the top down to the floor and up again.It's the business' responsibility to make sure that the compliance processes are in place and working in the organization. Therefore, business managers need to build and maintain a robust "compliance house" for their respective parts of the organization. Increasing engagement within the company, building a strong brand, and managing reputation to help achieve business objectives Compliance at Sandvik is about adhering to rules and standards concerning four areas: Anti-bribery and anti-corruption ("ABC"), Anti-trust or competition law, Data privacy, Trade and customs.How are companies within the industry embracing digitalization and data-driven approaches to enhance production processes, quality control, and customer experiences?The rise in industrial automation in India is a major factor that's driving the machine tool market share growth. The growing demand to reduce manual labor inputs and increase productivity has fuelled the adoption of automated technologies. Industrial automation is improving the bottom line, operational efficiency, and productivity of manufacturers. The adoption of 3D printing technology is another factor supporting the machine tool market share growth in India. The major factors driving the adoption of 3D printing are its low manufacturing cost, faster manufacturing, easiness to be upgraded, low energy consumption, and reduced waste production. Additionally, the adoption of 3D printing technology will grow in the machine tool market in India as the technology will enable adherence to the specification requirements of different customers. In 2023, our mission will remain centered on shaping the future of manufacturing through digitalization in collaboration with our vital and exciting partners.
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