Staying Competitive in 2022 and Beyond

There’s never been a more pivotal time in manufacturing. The pandemic exposed the depth of challenges that manufacturers are facing, including supply chain disruption, skilled worker shortages, and risk mitigation. Environmental, social, and corporate governance (ESG) has also emerged as a must-address component of the business. At the same time, the combination of data-driven insights, speed, and automation has never been more accessible. All of this is accelerating the adoption of smart manufacturing.

To help you stay competitive in the midst of change, here are a few stats to think about from the 2022 State of Smart Manufacturing Report:

• Smart manufacturing adoption rates increased 50% from 2021 to 2022, meaning 2 out of every 3 manufacturers are currently using some form of smart manufacturing component.
• Indecision due to an overload of technology investment options is a leading growth obstacle for the first time, with over 20% of respondents selecting it.
• While 78% of manufacturers have a supply chain planning point solution, 38% of respondents said they plan to invest in supply chain planning, indicating that their current solution is not enough.
• Over 80% of respondents for both the 2022 State of Smart Manufacturing Report and NAM’s (National Association of Manufacturers) Outlook Survey stressed the importance of attracting and retaining a quality workforce.

The time for action is now. Forward-looking, informed leaders are making the decisions that will pave the way to success this year, while also stepping back to assess where those decisions will lead the company in five, ten, and fifteen years.

Plex’s annual State of Smart Manufacturing Report has tracked the most pressing issues over much of the last decade. The skilled worker shortage, supply chain disruptions, and risk mitigation show up as key industry-level growth obstacles every year, but the reasons for each are ever-evolving.

To solve for these problems and other dynamics yet unknown, technology – specifically smart manufacturing – is the key. Drivers like the increase in plant-level data, greater machine and human connectivity, the growth of Industrial IoT, and the practical use and affordability of once-hyped technologies are changing manufacturing and expanding human possibility.

Benchmark your technology usage and uncover best practices by downloading the full 2022 State of Smart Manufacturing Report today.