For Parker, the concept of sustainability goes far beyond compliance with environmental regulations. A sustainable company integrates its management of processes and materials with the continual creation of value through innovation. New technologies that address the unmet needs of society will also minimize the impact of a company’s products on the environment and provide long-term benefits to society.
Parker’s most important innovations introduced in the past decade achieved success by providing customers tangible and compelling value. These new solutions also created significant improvements in environmental and societal sustainability by reducing functional and manufacturing waste. Such accomplishments are driven by reductions in weight, increases in efficiency, improvements to safety and the elimination of unnecessary features.
Parker’s approach to new product development is managed with its Winovation system which enables Parker to create new products and systems that provide both industrial and environmental value. With Winovation, Parker has a process that is repeatable and can be applied to manage the development of any concept that delivers value to its customers. Parker team members continue to make improvements to the system, which in turn increases the efficiency of the process for all future development projects.
Parker is committed to a sustainable business model which makes decisions for the benefit of all stakeholders: shareholders, customers, team members and society. Parker believes that, when correctly applied, industrial innovation advances sustainable practices and creates a positive impact on the world.