“The manufacturing landscape is changing. Supply chain disruptions, workforce shortages, shifting costs, and other factors are impacting operations and changing business strategies by the day,” says Kerrie Jordan, vice president of product management and data platform at Epicor Software.
A survey of 400 manufacturing leaders on their thoughts around technology, business strategies, workers, and industry, and reveals several important trends that may influence how manufacturers will forge ahead in 2024:
Key takeaways on technology include:
- 67% of manufacturers are embracing a data-first strategy.
- 61% of manufacturers are heavily embracing automation.
- 49% of self-described modern manufacturers are employing AI.
Key takeaways on the workforce include:
- 77% of manufacturing leaders say their company is prioritizing upskilling.
- 60% of manufacturing leaders anticipate increasing budgets for hiring new talent.
- 44% of manufacturing leaders say that turnover has remained the same at their organization.
Key takeaways on priorities and challenges:
- The biggest priority for manufacturing leaders is quality control.
- The biggest daily challenge for manufacturing leaders is hitting product targets.
- Another big challenge is ensuring workplace safety and compliance.
These insights can help manufacturing CFOs benchmark their organisations against their peers and help them navigate the many evolving challenges, opportunities and unpredictable futures that lie ahead.
Click on the link to download this report to help you guide your strategies in the coming years.
