Manufacturing 2020: Are You Ready?
It’s safe to say that manufacturing is evolving at the speed of light. From smart connected systems backed by AI that help manufacturers become faster and more productive to blockchain technology that increases transparency and security, manufacturers who fail to keep up in this changing environment will be losing significant ground to competitors in the upcoming year.
So how do you make sure that you’re not being left behind?
Benjamin Franklin once said that if you fail to plan, you’re planning to fail. But to prepare for the future, you need to have a solid understanding of the forces shaping the market and where you stand in the playing field to be effective.
When we started our 2019 Manufacturing Industry Trends survey, our goal was simple. We wanted to help manufacturers understand where we are in the market and where we’re heading to better plan and forecast for the next year.
More than 100 of the top manufacturing executives participated in the survey, and we were able to delve into the industry’s most pressing issues, top challenges, and initiatives for growth. We asked questions about the expected growth rate, market share, level of technology investment, and more.
What we found was that the manufacturing industry is currently undergoing a boost in productivity that hasn’t been seen in the past 5-7 years. Almost half of the respondents surveyed budgeted over $1MM on capital projects in 2018 and an additional 17% budgeted over $10MM. If you’d like to learn more, you can access the findings here.
Looking Ahead to 2020
As we peer into the future, we want to keep the momentum going. What are the things that are or aren’t working for manufacturers today? What are the emerging technology trends we can foresee impacting the industry? How are manufacturers dealing with the disruption as new technology is adopted? And what are those top 3 things that are keeping them up at night?
To help unlock these insights and more, we need your help to get a better picture of what’s shaping the manufacturing industry today. To collect this data, we’ve put together a quick 10-minute survey to address important trends and topics, such as:
- Overall growth rate and market share
- Profitability insight for products, customers, and geographic regions
- Identifying consumer buying habits and patterns
- Spending on product innovation and capital projects
- Prioritization of technology focus areas
- Visibility into the supply chain process
What to Expect
By participating in the survey, you’ll be armed with the final report including the most up to date information to help you better plan for 2020. You’ll learn what you need to adapt or change to be more competitive, and you’ll also be able to benchmark yourself amongst your peers.
To make your participation more attractive, we’ll be offering a variety of drawings for gift cards as a token of our appreciation. To be eligible, you must complete the manufacturing industry survey by October 31, 2019.
So, what are you waiting for? Make sure your voice gets heard and complete the brief survey today. Thank you in advance for your insights!