Digital tools are radically changing the supply chain. Technologies such as analytics and automation are driving output expectations and causing organisations to feel the heat of market competition. Cloud computing has surged, with cloud-based apps helping bolster output and identify ways to squeeze costs.
Digital investment
This continued investment shows no sign of abating. In the next two years, AI is one of the major priority technologies for the sector which, if utilised correctly, could give firms an edge in terms of productivity.
But the manufacturing industry is at a tipping point – on one hand there is great support to ensure that the sector leads the way in post-Brexit Britain. However, a growing skills gap and increasing cyber threats could halt production and progress.
Product line health and safety
Cyber-attacks are increasing in sophistication and constantly evolving. Manufacturing is one of the most heavily-targeted industries, with attacks aimed to steal invaluable information and intellectual property. With increased levels of networking, and technologies such as robotics, 3D printing and the Internet of Things (IoT) becoming more accessible, hackers are finding new ways to disrupt production, or commit industrial espionage.
A batch of regulations
In the wake of these ever-growing and evolving threats, businesses across the globe are facing new challenges in the form of changing regulations, such as the EU Global Data Protection Regulation (GDPR), and failing to comply carries considerable financial and reputational consequences.
It is crucial that employees and business leaders alike are aware that, whatever your role or stature in an organisation, everybody has a part to play in GDPR compliancy. It should be a companywide initiative with regular assessment to ensure awareness, participation and compliance from all.
Ill-equipped workers
While manufacturing leaders are feeling confident, the same cannot be said across businesses – 35% of employees do not think they have been given the tools they need to navigate future challenges.
The manufacturing sector has a notorious skills shortage, with difficulties attracting and retaining the best talent. It is unclear how changes such as Brexit will affect this.
Leaders in the sector will need to take care not to become complacent or take for granted that their staff will be able to keep up with the pace of technological change and the resulting implications for skills in the workplace. They must ensure that they are equipping their teams with every possible advantage to retain their staff and drive the business forward to a digital future.
Maximising output
To navigate the choppy seas of post-Brexit Britain, manufacturers will need to realise the importance of getting the most out of their processes, technology and people to succeed.
