Focused factories
- Kick-off of focused factories approach: create factories that produce a limited set of products, for a particular business unit.
Innovate for impact
We are determined to retain our position as a technology leader and further differentiate ourselves from our competitors. To achieve that aim, we will continue to accelerate our innovation and technology capabilities. While innovating, we always keep in mind that innovation at Barco should deliver impact, i.e. add value for all our stakeholders, including the broader communities in which we operate.
Innovating for impact is about more than mere technology innovation. It includes:
enhancing and extending our product portfolio
increasing the efficiency of our operations with focused factories and a stronger supply chain
creating new business models to strengthen our downstream value chain.
Assessment
Overall, we score between 2 and 3 out of 4 on the focus areas in the ‘Innovate for impact’ lever. In 2022, we were successful in minimizing the supply-chain constraints caused by the pandemic. We managed to instill a stronger innovation governance, which will help us achieve more breakthrough innovation in the mid to long term. The focused factories strategy, for its part, has just been launched and will help us optimize the manufacturing footprint in the coming yearsStrengthen downstream value chain through OPEX business models and channel management
Roll-out of OPEX business models (Cinema-as-a-Service, weConnect, Dermicus) focusing on customer experience and full lifecycle management of products
Addition of new distribution and channel partner agreements
Strengthen supply chain, reducing component dependency through redesign and bringing critical components in-house
Reduction of dependency on critical components (semiconductor and other) through product redesigns that allow for more flexibility to change components during the products’ lifecycle
Bringing production of critical subassemblies in-house (e.g. optical components for projectors or bonding glass for healthcare displays)
Rebalance R&D investment portfolio
11% of turnover spent on R&D, with a more balanced R&D pipeline focusing more on new growth investments
Strengthened patent management with 13 new patent filings and holding 550 patents at year-end 2022
Global platforms software development strengthened under cross-divisional management in SWIT (Software and IT) organization
Barco selected as Euronext Tech Leader, among Europe’s top innovative high-growth companies
Develop adjacencies and new solutions based on core technologies
HDR Lightsteering, for the next-gen laser cinema projector piloted and presented to cinema industry professionals
Expanding ClickShare proposition with new functionalities on a continuous basis, such as smart meeting flows and digital signage
Enhance ROI in innovation combining entrepreneurship and financial discipline
R&D managed in the business units, close to customer, enhancing market effectiveness
Strengthened innovation governance, led by CEO An Steegen, with frequent innovation boards and fast-fail principles
