SHANGHAI, Jan. 14, 2022 /PRNewswire/ -- On January 11, 2022, Eoslift announced to change its corporate branding to Enotek in Shanghai, China. Enotek will help customers build efficient supply chain systems with intelligent products and system solutions, and continue to unleash the business value inherent in smart manufacturing logistics. Eoslift, Enotek's predecessor, entered the logistics equipment industry in 2008 with presence in Europe and North America, and established a wholly-owned subsidiary in California, U.S.A in 2012. Today, the company is strategically operating across the entire value chain of "equipment + software + systems + platform services". As a forerunner of logistics technology, Enotek strives to leverage its industry expertise to drive the smart upgrading of logistics for the manufacturing industry.
Smart upgrading of logistics has been an inevitable trend for the manufacturing industry, and embracing a bright prospect. The global automated intralogistics material handling solutions market is set to be valued at US$ 43.83 billion in 2021, with steady long-term projections, according to latest insights by Persistence Market Research. The study estimates that the market will expand at 14% CAGR through 2031. For manufacturers, digital upgrading toward smart manufacturing logistics can help them adopt flexible management. This will be critical in an era of transformation.
According to Andy Jiang, Enotek Chairman and CEO, Enotek, with its new positioning, will focus on the multi-billion-dollar smart manufacturing logistics market and strive to become a leader in innovative technologies for digital and smart logistics. Enotek will focus on its four priorities: "Excellence & Excelsior", "To Envision & Enable", "Innovation", and "Technology". This aligns with its future strategic roadmap.
Innovate first to overcome key technical barriers
Enotek is sparing no effort to innovate using technologies for digital and smart logistics. According to Enotek CTO Wayne Xu, up to 60% of the staff at Enotek are technical personnel, and the company spends 11% of its revenue on R&D. Xu emphasized that Enotek will continuously increase its input in innovation and R&D, to overcome technical barriers in the industry.
Enotek has continuously upgraded application scenarios since its inception to adapt to the upgrading needs of its customers across different industries. Today, Enotek is able to develop products across the value chain from smart equipment, such as pallet stacking machines and automated guided vehicles (AGVs), to software systems, such as the Warehouse Management System (WMS) and the Warehouse Control System (WCS). Enotek products，such as AS/RS and automated guided vehicles (AGVs), have been proven to be cost-effective and reliable in the China market, and these products and relevant experience will continuously benefit the global market. Meanwhile, Enotek is preparing to build a megafactory where robots make robots. It will serve as one of Enotek's manufacturing bases, to manufacture highly cost-effective products for global customers.
To better meet the needs for logistics upgrading, Enotek is innovating with the aim of helping customers improve efficiency and cut costs. It's one of the first logistics technology companies in China that is driving the adoption of cutting-edge technologies, such as digital twin, machine vision, and AI algorithms. Digital twin has enabled Enotek to create an accurate representation of logistics processes in the virtual realm, effectively helping customers optimize decision making to improve management effectiveness. Machine vision and AI algorithms allow intralogistics to be better coordinated with production and supply. In addition, Enotek optimizes its technologies and products in a modular manner, to serve customers flexibly with great technical strengths, flexibility and cost-effectiveness.
As a forerunner, Enotek has also achieved much in creating an industry ecosystem. For example, the company entered into a strategic partnership with Siemens on simulated testing systems to explore more application scenarios for technologies and equipment. It is working closely with BYD to help it upgrade across multiple fields, such as digital factory, digital parks, smart logistics, and smart warehousing. And this year, the company officially began to collaborate with Deutsch-Chinesische Institut für angewandte Forschung und Promotion for R&D on multiple dimensions, to upgrade and innovate with digital and smart technologies…. By working with partners across the industry and academics, Enotek is building an open and inclusive ecosystem to overcome the industry's existing technical barriers and to eventually produce synergies and mutually beneficial results.
Create a global footprint of smart manufacturing logistics on multiple dimensions
As an innovator and forerunner, Enotek introduces an Enotek Model for manufacturers to drive the digital and smart upgrading of logistics. This model is built on Enotek's rich experience in helping customers upgrade toward smart logistics across multiple industries, such as chemical fiber, glass fiber, e-commerce, retail, household appliance and new energy. Examples include leading companies like Whirlpool, Ford, Tongkun, Xinfengming, and JD.com. The agreement of the Jushi Egypt project reached in 2021 marked a milestone in Enotek China's overseas business journey.
In fact, the manufacturing industry faces many common pain points in upgrading toward smart logistics. For example, emerging industries cannot copy existing data models, and the accuracy of digital twin is challenging to achieve. The current "one-size-fits-all" upgrading solution cannot meet the non-standard needs of various factories, and the rapid changes in the marketplace raise higher requirements for the flexibility and scalability of smart manufacturing logistics. These serious challenges can be overcome by efficient and customized solutions developed based on the Enotek Model. Enotek will collaborate with overseas partners and use digital and smart technologies to help customers solve real problems.
The upgrading of corporate branding is based on Enotek's understanding of market trends as well as its 13+ years of expertise in the industry. Among the solution providers for upgrading toward smart logistics, few can offer both cutting-edge technology and better value for cost. Enotek jumped at this opportunity. Based on its understanding of global markets and its localized strategies, the company is able to better address the real needs of international customers.
Looking forward, Enotek will strive to explore more cutting-edge solutions for innovative application scenarios, to provide an affordable access for manufacturers to upgrade toward smart logistics.