Do you believe technology investments in manufacturing can drive business growth? If the answer is yes, then you’re not alone.
According to a new global Sage report on process manufacturing, two-thirds of US manufacturers (67%) plan on making technology investments in the short-term.
The report, Riding the wave of uncertainty: How process manufacturers are planning for a brighter future , surveyed 900 professionals from mid-sized manufacturing businesses in the US, UK, and Canada to uncover key insights on how the industry is experiencing rapid change and bracing for the impact of new technological and regulatory challenges.
One of the key findings of the report is emerging technologies have tremendous potential to help manufacturers save time and money, with reduced operational costs seen as the greatest benefit by US manufacturers (34%), followed by increased traceability (29%) and automation of repetitive tasks (24%).
The complete six-part report covers:
- Opportunities created by regulatory change,
- Facing the war for talent to embrace new opportunities,
- The need for traceability,
- Preparing for change in an uncertain world,
- What are process manufacturers investing in, and
- The future of process manufacturing
Here’s an excerpt from Riding the wave of uncertainty: How process manufacturers are planning for a brighter future .
How process manufacturers are staying ahead of the curve
Opinions around the state of the manufacturing sector are never short. The public and politicians on both sides of the Atlantic can be regularly heard lamenting the “decline of our industrial sector” or saying things like “we don’t make things in our country anymore.”
Too often though, those opinions are based on hearsay and come from the outside looking in. To gain an uncensored view from the factory floor, we invited over 900 of your fellow professionals from mid-sized manufacturing businesses in the UK, US and Canada to share their thoughts and plans on business strategy, access to talent, technology adoption and how environmental factors are impeding their opportunity to grow. A look from the inside out.
We were interested to hear how in an uncertain world, the people that make some of the world’s most widely used and important products such as pharmaceuticals, food, beverages, gasoline, oil, plastics — and let’s not forget wine — are coping as we step into the third decade of the 21st century. What challenges and opportunities are keeping them awake at night, such as how Brexit and USMCA might impact them? How are they preparing for Industry 4.0 in an ever-globalizing world, what are they forecasting for their industry, and how are they planning for this change?
Our research showed that rather than putting the brakes on and waiting for governments to make the big decisions, process manufacturers are actually taking control of their destiny with 99% telling us they are preparing for growth — investing in tools to help them remain in the driving seat, and selecting technology that keeps their feet on the ground and their eyes on the profit line.