Boosting efficiency and increasing productivity rank number one business for half of organisations

BIRMINGHAM, UNITED KINGDOM, January 23, 2024 /EINPresswire.com/ -- Over a third of leaders (37%) in the UK manufacturing sector see talent attraction and retention as the top priority in 2024 according to new report findings, with a fifth (21%) already using AI to help alleviate workforce shortages.

As manufacturing becomes more reliant on technology, it requires new skills to cope with changing demands, however, according to insight gathered for Advanced’s Manufacturing Business Trends Report 2023/24, 14% of manufacturers are struggling with the digital skills gap.

Despite this apparent lack of skills, almost two-thirds (65%) said they had plans to upgrade their digital systems in 2024 and a significant majority (87%) of manufacturers questioned said they are confident or very confident their current technology infrastructure fully supports their business model. However, the data also showed that 51% said better systems integration would increase their confidence in their technology solutions and that 38% felt that this area of their business does not have effective digital solutions in place to operate effectively.

The data also shows that despite plans to upgrade, 23% of leaders feel their organisation is without the technological skills to proceed with digital upgrading. Meanwhile, many barriers still exist when considering new technology, with 38% saying the biggest barrier is attachment to traditional methods (38%), and user resistance to new technology (33%).

Doug Hargrove, Senior Vice President, Manufacturing at Advanced commented on the report, "This is the first time we have commissioned this report and it’s no surprise to see that many organisations are struggling to attract and keep the best talent in the sector. The data clearly shows there’s an appetite for upgrading to new systems and technology and by doing so, many of the problems cited in this report could be alleviated.”

Other key considerations and barriers to adopting new technology are difficulty in measuring return on investment (ROI), 34%, and cost, 32%. One of the advantages of using digital technology is its flexibility at implementation stage, with modular solutions that allow organisations to start with an upgrade that transforms the one area of the business that will see the greatest benefit, soonest. That can start a ripple effect where other functions see the benefit and want to be part of the upgrade journey too, with finance teams able to evidence increases in productivity and profitability, alongside quantifiable cost reductions.

The report is available at https://www.oneadvanced.com/trends-report/sector-trends-reports-2024/

Neil Watts
Firework PR
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