In the next 5 years the manufacturing industry will reinvent itself, creating a competitive advantage for EU based manufacturing companies due to an innovation in material management and the re-use of locally available waste materials. SmartTrace will be on the forefront of that change.
Poor material management contributes to over 42% of World pollution. As a result, costs are estimated in billions of euros annually, imposing regulatory, tax and insurance costs for manufacturers, including the multi-billion pharmaceutical sector. With the burden of increasing costs, opportunities are lost when considering the linked up availability local waste resources. SmarTrace, “The Internet of Waste”, a circular economy platform, supports the transformation of waste management theories to action and the perception of waste from problem to product.