Digital transformation and data consolidation in manufacturing will continue to accelerate, but technology investments are much more than crisis navigation tools. They will play a vital role in helping organizations remain resilient, become more agile and embrace new opportunities.
After the turbulence caused by the COVID-19 pandemic in 2020 – which shook up the manufacturing industry and exposed many of its vulnerabilities – 2021 was not the year many had hoped for.
Along with a true supply chain crisis, came product shortages, cost pressures and rising inflation, with commodity prices surging as a result. Manufacturers have been forced to look at where their products come from and how they hold stock to prevent similar shortages from happening again.
Given the speed, depth and breadth of the pandemic, manufacturers had to adapt quickly and find new ways to operate, if they were to survive. One of the biggest shifts, particularly in manufacturing, was the move to working from home. This in turn made organizations more vulnerable, meaning they had to update and increase cyber security levels more frequently to keep pace with the threats. But moving to “virtual” environments also brought opportunities. By putting operational software into the cloud, manufacturers have been able to connect more applications and systems, linking data across areas that were previously operating in silos.
Digital transformation and data consolidation in manufacturing will continue to accelerate, but technology investments are much more than crisis navigation tools. They will play a vital role in helping organizations remain resilient, become more agile, respond quickly to market forces and embrace new opportunities.
So, what does this year hold for manufacturing organizations and the industry in general? IFS caught up with Andrew Burton and Maggie Slowik, their Global Industry Directors for Manufacturing, to get their perspective on 2021 and their predictions for 2022.
Your download is sponsored by IFS.
