Pandemic drives manufacturers to accelerate digital transformation
by CM Staff
Companies dealing with remote work forces, supply chain issues and need for better information
MISSISSAUGA, Ont. — Business leaders within global manufacturing and distribution sectors are embracing with some urgency digital technology to overcome the disruption caused by the pandemic, according to a study by SYSPRO, a global provider of ERP software.
The survey, completed by 144 respondents at different managerial levels in US; Canada; Europe, the Middle East and Africa; and Asia-Pacific region, looks at how companies are coping with the need for increased collaboration, the impact of supply chain disruptions, and emerging trends.
Some key findings include:
• 73% businesses need to invest in technology to facilitate remote working. Nearly half of the companies were unable to function effectively by relying on operational staff only being able to function from the work premise. With a shift towards remote work and increased collaboration, 73% of businesses stated they would need to invest in technology to facilitate remote working capabilities in the future.
• 60% businesses were impacted by supply chain disruptions. Sixty per cent of respondents experienced supply chain disruptions during the pandemic. In distribution, 45% were unable to operate at the same levels of efficiency as before the pandemic.
• 42% will consider reshoring. Respondents are looking for alternatives to offshoring and to establish a more resilient supply chain.
• 67% of businesses could trade effectively due to digital initiatives. Organizations impacted by supply chain disruptions understand they now need to shift their operations and accelerate their digital transformation journeys.
• Focus is shifting away from cost and efficiency control to certainty and quality. Twenty-nine per cent of businesses stated their systems didn’t provide them with the availability, insights and accessibility of information to respond to the pandemic adequately, and they would be pursuing cloud-based business systems to deal with any possible future disruptions.
Click here or the report.