Strategic priorities

By combining technical knowledge with extensive experience from multiple customer industries, SKF meets customers’ changing preferences and helps them overcome specific challenges. SKF has five strategic priorities that act as drivers for the future development of SKF, sustainability is one of them.

Within SKF’s industries, demand is growing for customer-specific value propositions, that give reliability and uptime. This development fits well with SKF’s existing engineering skills and asset management approach. With focus on new technology to provide best value for money and activities to digitalise the entire value chain, SKF offers two strategic value propositions: Products and Rotating Equipment Performance.

 

SKF supports its customers with application-driven innovation and develops new technologies and solutions based on cutomers' applications needs. These solutions will provide customers with a direct competitive advantage. To deliver such products, innovation and development must start from the application and a deep understanding of what, exactly, is needed of the product and what can be taken away.

 

SKF has manufacturing at the top of its agenda, developing the latest manufacturing technologies and ensuring a global manufacturing footprint. For SKF, world-class operations mean having the leanest, safest, most flexible and most cost-efficient manufacturing and logistics processes.

 

SKF ensures that its own processes meet the highest possible standards and continuously invests in measures to reduce costs and increase productivity. These investments encompass the entire value chain, from innovation, sourcing, manufacturing to sales and distribution, with the aim to create an optimum structure for each individual region.

 

Strengthening the balance sheet and improving the ability to generate consistent levels of cash flow over time is a key focus. This will allow SKF to continue to reinvest in the core business and future growth, as well as delivering returns to shareholders.

 

The climate strategy, built on SKF BeyondZero, tackles the greenhouse gas (GHG) impact in the full life cycle and the full value chain of SKF’s products and solutions. The strategy is focusing on four areas where SKF has the possibility to drive significant improvements:

  • SKF’s own operations
  • Raw material and components
  • Transport and distribution
  • Products and solutions
 
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