The survey of more than 200 manufacturing executives found that these investments were initially spurred by pandemic-driven disruption and continue to accelerate.
Investment in cloud technologies is top of mind, indicating that the pandemic has made a compelling case to leverage cloud infrastructure to not only create a more agile, flexible manufacturing environment – but to also support an increasingly distributed, remote workforce.
· Over half of respondents (53.7%) have accelerated investments in cloud technologies
Tom Hennessey, CMO of iBASEt, said: “Complex, discrete manufacturers are embracing innovation and digital transformation on many fronts. These range from cloud adoption to better methods of supplier quality management to innovation surrounding data collection and analysis.
“Manufacturers are justifying this investment with better operational excellence and intelligent decision support that can be extended across the entire value chain.”
Considerable investment is taking place in technologies integral to digital transformation, with over half of all respondents indicating they are investing in:
Other notable areas of investment include the Industrial Internet of Things/IIoT, (48.8%), Industry 4.0 (42.9%), and supply chain collaboration (47.8%). Nearly half of respondents (44.8%) say they are completely digital regarding how operations are managed, reports are generated, and issue resolution is achieved, including audit and regulatory compliance documentation.
More than half of respondents (53.2%) share a “strong confidence” in manufacturing growth prospects over the next 1-3 years, and 44.3% of respondents indicated moderate confidence for growth in the next 1-3 years. Only 2.5% see growth as flat.
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