TECHNOLOGY IS VITAL TO TRANSFORMATION
In the wake of COVID-19 and the move to a more digital world, many businesses have discovered that they need to evolve if they wish to stay competitive. Technology is profoundly impacting the way companies operate, including Pennsylvania manufacturers.
Production and inspection processes are being reinvented to foresee maintenance needs and minimizing waste, helping people and the environment that surrounds them. In addition, like many industries, manufacturers are contending with an aging population that’s retiring and taking their skills and knowledge with them, as well as the challenge of attracting new talent. Manufacturers recognize these trends, and a technological transformation is already well under way.
According to the 2021 Digital Transformation Assessment, published by The Manufacturer and IBM, more than two-thirds of manufacturers (67 percent) have accelerated their adoption of digital technologies as a result of the pandemic. The survey also found that:
- 92 percent say their most significant business imperative is improving operational efficiency.
- 88 percent say that COVID-19 has resulted in their organization placing greater emphasis on operational resilience.
- Cybersecurity, data analytics and cloud computing are the technology areas the greatest proportion have already implemented or are working toward implementing.
- Carving out the time to focus on improvements (i.e. working ‘on’ the business rather than simply ‘in’ the business) is the most significant barrier to adopting new technologies currently.
- Looking ahead to the next 18 months, the most significant barrier to technology adoption is organizational culture.
- Greater support regarding determining the business case, identifying a benefits- backed roadmap and upskilling the workforce would help accelerate the adoption of digital technologies.
The report further reveals that the vast majority of senior manufacturing professionals view cybersecurity and advanced data analytics as especially important to their business goals — cited by 92 percent and 90 percent participants, respectively.
Also ranked highly were digitizing and automating many of the process involved with overall equipment effectiveness and manufacturing/enterprise resource planning.
Alongside increased efficiency and visibility, this shift is being driven by businesses looking to free workers from time-consuming, monotonous tasks in order to focus on areas where they can add value.
This strategic importance is reflected in the top three technologies manufacturers have already implemented or are working toward implementing — cybersecurity (88 percent), advanced analytics (79 percent) and cloud computing (79 percent).
In this edition of the Business Magazine, we’ll explore some of the key topics for PA man- ufacturers as they contribute to innovation, investment and post-COVID-19 recovery in the Keystone State. We’ll also hear from Penn State Behrend professor Tim Kurzweg, Ph.D. on arti- ficial intelligence and what manufacturers and other industries should consider when it comes to maximizing this powerful technology.
Plus, be sure to see our 2021 Showcase of Manufacturers, which highlights the many organizations that are proud to manufacture in Pennsylvania today.
To learn about the Manufacturer & Business Association’s rich history in supporting PA manufacturers and other members, visit www.mbausa.org!
