Details
| Original language | English |
|---|---|
| Journal | Advanced engineering materials |
| Early online date | 5 Oct 2024 |
| Publication status | E-pub ahead of print - 5 Oct 2024 |
Abstract
Companies must innovate to survive in competitive markets. The pressure to bring innovations to market faster and meet market and regulatory requirements challenges companies to assess early on whether an innovation delivers economic value added (EVA), even with a lack of quantification data. Sustainability, now a crucial industrial pillar, is integrated into this article's semiquantitative method for monetarily evaluating sustainable value drivers of innovations. The method is applied to the “Tailored Forming” innovation, developed in Collaborative Research Center 1153. The procedure employs an EVA driver tree to guarantee a net present value orientation within the innovation evaluation. A systematic literature review further systematizes the driver tree, thereby establishing a link between the sustainable value drivers of the EVA to develop a literature-based impact model. A weighted scoring model (WSM) compensates for limited data, with interviews from CRC 1153 providing additional input. The data evaluation demonstrates that implementing Tailored Forming technology does not currently represent an effective strategy for achieving a higher EVA from a sustainability perspective, as evidenced by an increase in the WSM value. However, levers are being identified to facilitate the transfer of the Tailored Forming innovation into practice, reducing the WSM and positively influencing the EVA.
Keywords
- economic value added, impact modeling, process innovations, sustainabilities, value drivers
ASJC Scopus subject areas
- Materials Science(all)
- General Materials Science
- Physics and Astronomy(all)
- Condensed Matter Physics
Sustainable Development Goals
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In: Advanced engineering materials, 05.10.2024.
Research output: Contribution to journal › Article › Research › peer review
}
TY - JOUR
T1 - Assessing the Ecological Value
T2 - Monetizing Process Innovations in Tailored Forming
AU - Schneider, Jonas
AU - Westing, Jan
AU - Schmidt, Matthias
AU - Nyhuis, Peter
AU - Kuprat, Vivian Katharina
N1 - Publisher Copyright: © 2024 The Author(s). Advanced Engineering Materials published by Wiley-VCH GmbH.
PY - 2024/10/5
Y1 - 2024/10/5
N2 - Companies must innovate to survive in competitive markets. The pressure to bring innovations to market faster and meet market and regulatory requirements challenges companies to assess early on whether an innovation delivers economic value added (EVA), even with a lack of quantification data. Sustainability, now a crucial industrial pillar, is integrated into this article's semiquantitative method for monetarily evaluating sustainable value drivers of innovations. The method is applied to the “Tailored Forming” innovation, developed in Collaborative Research Center 1153. The procedure employs an EVA driver tree to guarantee a net present value orientation within the innovation evaluation. A systematic literature review further systematizes the driver tree, thereby establishing a link between the sustainable value drivers of the EVA to develop a literature-based impact model. A weighted scoring model (WSM) compensates for limited data, with interviews from CRC 1153 providing additional input. The data evaluation demonstrates that implementing Tailored Forming technology does not currently represent an effective strategy for achieving a higher EVA from a sustainability perspective, as evidenced by an increase in the WSM value. However, levers are being identified to facilitate the transfer of the Tailored Forming innovation into practice, reducing the WSM and positively influencing the EVA.
AB - Companies must innovate to survive in competitive markets. The pressure to bring innovations to market faster and meet market and regulatory requirements challenges companies to assess early on whether an innovation delivers economic value added (EVA), even with a lack of quantification data. Sustainability, now a crucial industrial pillar, is integrated into this article's semiquantitative method for monetarily evaluating sustainable value drivers of innovations. The method is applied to the “Tailored Forming” innovation, developed in Collaborative Research Center 1153. The procedure employs an EVA driver tree to guarantee a net present value orientation within the innovation evaluation. A systematic literature review further systematizes the driver tree, thereby establishing a link between the sustainable value drivers of the EVA to develop a literature-based impact model. A weighted scoring model (WSM) compensates for limited data, with interviews from CRC 1153 providing additional input. The data evaluation demonstrates that implementing Tailored Forming technology does not currently represent an effective strategy for achieving a higher EVA from a sustainability perspective, as evidenced by an increase in the WSM value. However, levers are being identified to facilitate the transfer of the Tailored Forming innovation into practice, reducing the WSM and positively influencing the EVA.
KW - economic value added
KW - impact modeling
KW - process innovations
KW - sustainabilities
KW - value drivers
UR - http://www.scopus.com/inward/record.url?scp=85205580980&partnerID=8YFLogxK
U2 - 10.1002/adem.202401371
DO - 10.1002/adem.202401371
M3 - Article
AN - SCOPUS:85205580980
JO - Advanced engineering materials
JF - Advanced engineering materials
SN - 1438-1656
ER -