Annual Report 2016
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Glossary

  1. Abbreviations

    BRIC
    Acronym for the four major emerging countries referred to as the “BRIC states”: Brazil, Russia, India and China
    ISO 14001
    International standard stipulating to be met by environmental management systems
    IMF
    International Monetary Fund
    VDMA
    Verband Deutscher Maschinen- und Anlagenbau e.V.
    [German Engineering Federation]
  2. Key Corporate and Technical Terms

    3D polymer printing
    A process in which three-dimensional plastic parts can be built up layer by layer
    Design to cost
    A product development process aimed at finding the most cost-effective solution for individual components beginning at the development stage
    ERP system
    An Enterprise Resource Planning system is a software solution which handles the integrated management of a company’s core business processes.
    FluidFuture
    KSB programme to increase the efficiency of pump systems
    Additive manufacturing processes
    A process for fast and cost-effective manufacturing of patterns, samples, prototypes, tools and final products
    Industry 4.0
    A visionary project from the German government’s future technologies strategy aimed at bringing the real and the virtual world together while encompassing the “Internet of Things”
    Laser melting
    A production method used to create metal components layer by layer on the basis of 3D CAD data
    Ombudsperson
    A neutral adjudicator; in the context of corporate governance a person of trust who accepts anonymous information relating to potential infringements
    Retrofit measures
    Modernisation of installed systems or components, often aimed at extending their service life, increasing efficiency or complying with new legislation
    Stakeholders
    Groups directly or indirectly affected by a company’s activities; in the case of KSB these include customers, suppliers, investors, employees and the public.
    UN Global Compact
    A global initiative for businesses and organisations launched by the United Nations with the aim of shaping social and ecological globalisation
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