Caterpillar is hosting about 190 heads of companies for a national summit. The Chief Executive Group’s Smart Manufacturing Summit is taking place in Peoria Tuesday and Wednesday.
The second annual event brings together manufacturing CEOs and senior executives from around the country. The goal is to share ideas and best practices on using new technology, how to be innovative and change company cultures to be better prepared for the future.
Cat CEO Doug Oberhelman gave opening remarks for the conference. He says Caterpillar was built on innovation, and must continue to invent new technologies as competition grows worldwide.
“Today in China alone, we can identify over 100 construction equipment and mining competitors. It’s never been a more competitive market in the world for the things we do today in our business, and the same would apply for everyone else in this room. It’s tough out there and innovation is a key.”
Oberhelman says Caterpillar also continues to be innovative to remain sustainable and help customers make money. The Cat CEO also detailed some of the company’s new products including driverless mining trucks and a new type of fuel efficient wheel loader.
The conference attendees are also touring various Caterpillar facilities. Last year the association's first convention was hosted by Ford Motor Company.
Oberhelman also received the Chief Executive Group's 2014 Leadership in American Manufacturing Award.