Top 2020 Manufacturing Trends You Need To Know to Remain Resilient in Face of Uncertainty

Published January 29 2020 by Jennifer Alspach
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As we move into the new decade, many manufacturers are preparing for a potential recession that can impede the exponential growth they have experienced in 2019. We surveyed the top executives in the manufacturing industry to understand how they will respond to this economic shift.

We wanted to know what technology investment they will prioritize in 2020. The top business challenges they foresee. And how increasing tariffs and regulations are impacting their business.

The goal? To help manufacturers benchmark their efforts against their peers to better prepare for the year. And after collecting, analyzing, and tabulating the results, here’s a peek into the key findings of our report:

  • 68% of manufacturers surveyed expect their annual growth to be higher than the industry projected growth rate of 3.9% for 2020.
  • 84% of respondents reported knowing who their most profitable customers are, but what they do with that information is still unknown.
  • Profitability, regulatory compliance, rising material costs, and effective use of data were cited as the top concerns for manufacturers.
  • 83% of participants stated trade and tariffs as significantly impacting their business and make every effort possible to pivot and respond to changes.
  • The top three technological priorities for manufacturing companies in 2020 are:
    • ERP
    • CRM
    • Business Insights and Analytics

To navigate these uncertain times, manufacturing companies must be both lean and agile to remain resilient and competitive this year. And the answer lies in the data. Now is the time to invest in smart technology that will enhance the way you do business. Find out everything you need to know by downloading your copy of 2020 Manufacturing Industry Trends. 

2020 Manufacturing Industry Trends Survey Results & Analysis

Jennifer is a seasoned marketer with a passion for CRM. She knows that CRM can help you work as smart as you do hard. Jennifer has a software focused background in Distribution, Manufacturing, and Services.

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