2023 in review
2023 saw a continuing challenging macroeconomic backdrop for the OEM partners we serve, including:
- Rising interest rates across Europe set to drive down inflation.
- Ongoing uncertainty created by various conflicts around the world.
- Continuing skilled labour shortages.
- Lingering supply chain disruptions.
- Meeting the sustainability challenge.
With this in mind, in its 2024 manufacturing industry outlook report, global consultancy firm Deloitte said, “Aftermarket services have increasingly become a valuable tool for manufacturers, as offering these services may help them offset the impact of economic downturns or disruptions.”
In our review of 2023, here’s how we at Veritek (an independent aftermarket service provider) have developed our infrastructure to support our OEM partners in 2023.
Sector-specific solutions for faster problem resolution
In 2023, Veritek continued to focus Group activities around four core areas where the company has strong positions and long-term partnerships in growing markets.
- Healthcare (including pharmacy robotics)
- Ophthalmology
- Industrial print and graphics
- Digital cinema
To illustrate, here are some of our initiatives:
Expanded our field engineering reach
In 2023, we expanded our field engineering capacity by 13%. Increasing our capacity means we can:
- Cover a broader geographical area.
- Handle fluctuations in demand or sudden increases in service requests without compromising quality or response times.
- Draw upon a broader range of specialist skills and technical knowledge.
Our expanded engineering reach ensures our OEM partners can efficiently use their resources by accessing timely support and assistance when needed.
Built new collaborative, multi-purpose workspaces
Since each room features a door at the rear that is big enough for a pallet truck to enter safely, our team can use our collaborative workspaces for meetings, training, repair, and refurbishment.
Furthermore, because we can make our multi-purpose collaborative workspaces available to our OEM partners, they benefit from:
- Ample room for installing, handling, dismantling, rebuilding and servicing machines.
- Security: Our facilities maintain strict confidentiality and security measures, crucial when dealing with sensitive information related to mission-critical equipment.
- Convenient location: Reducing travel time and cost for engineers.
Provided a pharmacy robot OEM with a long-term training space for service engineers
To demonstrate the value of our investment in infrastructure, in 2023, a pharmacy automation OEM rented out a space in one of our regional hubs. Here, it has installed a pharmaceutical robot for training purposes.
The OEM’s choice to collaborate with Veritek was rooted in the need for a suitable space where their team could receive comprehensive training and gain in-depth knowledge of the company’s mission-critical technology.
When asked about their experience at the Veritek training facility, the OEM’s lead trainer expressed their satisfaction with the flexible facilities provided by Veritek and commended the Veritek team for their exceptional support. They highlighted that Veritek’s team had made them feel at home and had been readily available whenever their team needed assistance.
New Cinema/AV dark room caters for our expansion into the projector maintenance market
To enable us to scale and extend our projector repair operations, in 2023, we built a ‘cinema dark room’ to provide space to extend the life of digital cinema projectors with calibration, testing, reclamation of spare parts, and repair and refurbishment services.
Moreover, our OEM partners can also use our dedicated dark room for training if needed.
Expanded our break/fix capabilities to contribute to our OEM partners’ drive towards environmentally responsible and sustainable processes
In Germany, we increased our focus on repairing, reconditioning, refurbishing, testing and calibrating high-value and mission-critical electro-mechanical equipment. Doing so helps our OEM partners extend equipment lifespan, enhance energy efficiency, and contribute to minimising environmental impact.
Continued commitment to being accountable to our OEMs’ sustainable supply chains
In June, globally recognised sustainability rating platform EcoVadis renewed our Silver Medal for Sustainability Management.
The award places Veritek ‘in the top 6% of companies rated by EcoVadis in the repair and installation of machinery and equipment industry’.
EcoVadis rigorously assesses companies across various industries based on environmental, social, and governance (ESG) performance.
Through a comprehensive evaluation process, EcoVadis examines critical sustainability criteria, including environmental impact, labour practices, fair business practices, and sustainable procurement.
Veritek’s Silver Medal renewal demonstrates its dedication to upholding high standards in these areas.
Staying true to our core values of partnership, trust and accountability
As Deloitte pointed out, aftermarket services help manufacturers offset the impact of economic downturns and disruptions.
Veritek is a pure-play service partner. We address OEMs’ needs by exclusively providing installation, maintenance and repair services without engaging in the sale of products.
Our actions this year ensure our independent service company stays positioned to adapt to market changes.
We can capitalise on emerging opportunities while simultaneously delivering an exceptional customer experience for the OEMs we serve.
In 2023, we’ve continued to strive to ‘Walk the talk.’ By this, we mean we’ve worked hard to ensure our actions are consistent with our Group’s core values of partnership, trust, and accountability.
And finally
Have you finalised planning your 2024 after-sales service strategy? If you need assistance scaling up your capacity, get in touch to find out how Veritek can increase your availability of maintenance engineers when needed.