Key findings include:
Anil Khurana, Global Industrial Manufacturing & Automotive Leader, Principal, PwC United States, said: “Manufacturers face a complex array of challenges, and it has become even more daunting with massive change brought about by the pandemic. Most have rapidly adjusted to remote working, accelerated the use of digital technology, and shifted supply chain footprints. But disruptions are now the norm, and manufacturers know they have to keep their foot on the gas pedal in order to successfully evolve. Not surprisingly, supply chain agility, cyber, digital marketing and sales, smart factory technologies and upskilling the workforce have become key areas of focus as they continue to automate. Many manufacturers are beginning to see themselves as tech companies!”
While sustainability ranks lower down on the list of business priorities for the manufacturing executives surveyed, a substantial percentage (44%) say it will be a priority in the next one to two years, led by US-based firms at 49%. Manufacturers are taking steps to measure ESG elements in their operations, with energy efficiency being the most measured element across all territories. Technology is also a focus, with 81% of executives expecting their firm’s technology budget to increase in the coming year, with industrial internet of things (IIoT) and data analytics being the two areas of focus.
For more information visit the Manufacturing COO Pulse Survey site here.
About the research: The survey was conducted by telephone in April 2021 with 607 C-Suite and other executives with responsibility for manufacturing operations in their companies. Average revenues of companies surveyed was US$6.6 billion. Participating territories include China, Germany, Japan, UK and US. Industries covered include Aerospace and Defense; Automotive; Consumer Goods; Electronics and Technology; Energy, Utilities and Resources; Engineering and Construction; Health Industries Manufacturing; Industrial Manufacturing.
Managing Director, Global Corporate Affairs & Communications, PwC United States
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Director, Global Corporate Affairs and Communications, PwC United Kingdom
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