Survey finds manufacturers lag in modernization despite increased pandemic-related investment

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Lack of digital maturity in the US and UK remains a serious barrier to productivity

FOOTHILL RANCH, Calif., May 16, 2022 /PRNewswire/ — iBASEt, the company that simplifies the way complex products are built and maintained, today announced the results of an original survey of more than 400 manufacturing executives in the United States and the United Kingdom. UK, which revealed that manufacturers are lagging behind in digital transformation efforts despite previous pandemic-related investments in new technologies.

Respondents confirmed that while Industry 4.0 advancements have been critical to maintaining operations during shutdowns, most manufacturers in the US and UK are still struggling with systems immaturity and processes that prevent them from leveraging operational data for business intelligence and smarter decision-making.

For example, nearly three-quarters (72%) of respondents have invested in new technologies during the pandemic, and 98% have seen their productivity increase. However, less than half of respondents (44%) said this modernization provided them with additional actionable data, and 19% did not use any data insights.

“As the volume of manufacturing data continues to explode, it’s critical that manufacturers modernize their systems and technologies to use critical data for business intelligence and more informed decision-making,” said Naveen Poonian, CEO of iBASEt. “The ability to not only embrace Industry 4.0 in the first step, but also then convert critical data into actionable improvements is essential to true digital transformation.”

The survey found that while the majority of manufacturers are enthusiastically embracing cloud transformation, few have made the full transition. 88% of respondents said they would increase their investments in cloud technologies over the next 12 months, but only 21% have currently fully moved to the cloud.

Two-thirds (66%) of respondents believe this accelerated transition to the cloud will unlock benefits that will help improve operational efficiency. Only 8% have “no plans” to use cloud infrastructure in manufacturing operations.

Other key findings:

  • According to the survey, 95% of total respondents still use paper-based processes, and more than a quarter (27%) use paper for more than half of all activities.
  • Almost all survey respondents (98%) indicate that they continue to use manual spreadsheets such as Microsoft Excel, even as they take steps towards digital transformation. In fact, half (50%) of respondents say they use these tools for “the majority” of processes.
  • Nearly half (47%) in the US strongly agree that many US manufacturers could cease to exist in the next 10 years unless action is taken.

Resources:

  • To download a summary of these survey results, visit the iBASEt website at www.ibaset.com.

Methodology

iBASEt’s independent research was conducted in March 2022 across the UK and USA. A total of 403 manufacturers (from the aerospace and defence, medical device, industrial equipment, electronics and shipbuilding sectors) provided comments – 201 from the UK and 202 from the US. United.

About iBASEt
iBASEt is a software editor that simplifies the design and maintenance of complex products. Founded in Southern California in 1986, iBASEt solutions ensure the digital continuity of manufacturing, quality and maintenance, repair and overhaul (MRO) operations on a global scale. The iSeries, powered by Solumina, is a cloud-native platform that establishes a digital ecosystem to drive innovation and improve operational performance. With offices in the US, UK, Franceand India, iBASEt customers include Lockheed Martin, Northrop Grumman, Rolls Royce, Pratt & Whitney and Textron. Learn more at iBASEt.com.

Media Contact
Tom Hennessy
(949) 958-5200
[email protected]

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SOURCE iBASEt

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