Findings show that manufacturers lack the understanding of digitalisation and its true benefits to a business.
New research by InfinityQS, the global authority on data-driven enterprise quality, has revealed that only nine per cent of manufacturers are planning to invest in digital transformation projects over the next 12-18 months. This was closely followed by 20 per cent of manufacturers that have disclosed their plan to invest in waste production solutions over the same period.
The survey obtained responses from I 18 global manufacturers to understand their level of digital maturity, gain a deeper insight into their existing digital infrastructure and determine their IT expectations over the next 18 months. Furthermore, the survey also shows that 78 per cent of manufacturers are to invest in data collection and process automation solutions to improve their shop floor.
According to Jason Chester, Director of Channel Programs for InfinityQS: "The survey results highlight manufacturers' lack true understanding surrounding the benefits of digitalisation projects. According to a survey by PWC, manufacturing companies who embrace the digitalisation drive can expect to reduce operational costs by 3.6 per cent p.a. while increasing efficiency by 4.1 per cent.
"Yet, instead of focusing on digitalisation, manufacturers are prioritising spend elsewhere--for example, waste management and data collection as our survey shows. "Waste reduction has been a priority amongst manufactures for many years, which consequently means any advancements are increasingly becoming even more marginal, delivering fewer returns for firms. Any progresses in waste reduction lays in digitalisation projects that unlock significant improvements by...