This is a new business creation program for a reverse logistics and remanufacturing company. A novel approach of recovery of embedded energy in materials has been developed and leverages the existing core competencies of this company in consumer, automotive and electronics verticals. The new concept applies circular economy approach to the lighting ecosystem and is now ready for launch. Some highlights:
- Evaluation of opportunities in the lighting industry, go no-go decisions
- Detailed identification of stakeholders, and value propositions
- Estimation of market opportunity and identification of key customers
- Business launch phase now focusing on making pitch to stakeholders and launching pilot programs
- Regulatory, environmental advocacy campaign launched
A unique program for unique company, that was looking out of the box to satisfy the growth imperative. A practical recovery, repair and remanufacture business which included returns management and warranty servicing has been refocused into a sustainability and circular economy mission.
Evaluation phase: The project included detailed survey of the lighting ecosystem, and identification os stakeholders and market size. In working with the leadership we developed a case for a viable market opportunity.
Business case phase: During this phase, extensive evaluation of specific lighting categories, market segments and application segments were analyzed. Several scenarios were outlined and using the “placemat method” story boards were built for a number of market approaches. Finally, due to Dr. Chips’ deep connections in the lighting ecosystem and with lighting stakeholders, personal meetings and interviews were used to test the developed market cases in order to converge and prioritize top two or three business cases.
Launch phase: The selected business case is now in pilot mode. Active meetings and contacts are being developed with industry stakeholders such as utilities, municipalities and private installation contractors to set up a system for recovery of discarded lighting fixtures, recovery of substantial materials and remanufacture to OEM standards without loss of performance. Three key business models have been developed i) Low cost offer of OEM grade remanufactured light fixtures ii) Upgrade of LED fixtures to latest performance and additional features iii) Upgrade programs for private and public installations offering a cost effective solution to benefit from continual technology improvements.