Survey Finds Manufacturers Lag in Modernization Despite Surge of Pandemic-Driven Investments

Lack of Digital Maturity in U.S., U.K. Manufacturing Remains Serious Roadblock to Productivity

FOOTHILL RANCH, Calif., May 16, 2022 /PRNewswire/ -- iBASEt, the company that simplifies how complex products are built and maintained, today announced results of an original survey of more than 400 manufacturing executives in the U.S and U.K., which found that manufacturers are lagging in digital transformation efforts in spite of earlier pandemic-driven investments in new technologies.

Respondents confirmed that although Industry 4.0 advancements were critical to sustaining operations during shutdowns, most manufacturers today in the U.S. and U.K. still grapple with a lack of system and process maturity that prevents them from leveraging operational data for business intelligence and smarter decision-making.

Case in point, nearly three-quarters (72%) of respondents invested in new technologies during the pandemic, and 98% saw increased productivity. However, fewer than half of respondents (44%) said that this modernization was providing them with additional actionable data, and 19% are not harnessing any data insights at all.

"As the volume of manufacturing data continues to explode, it's critical that manufacturers modernize their systems and technologies to make use of critical data for business intelligence and more informed decision making," said Naveen Poonian, CEO of iBASEt. "The ability to not just embrace Industry 4.0 at stage one, but to then convert critical data into actionable improvements is pivotal to a true digital transformation."

The survey found that although a majority of manufacturers embrace cloud transformation enthusiastically, few have made the full transition. A full 88% of respondents indicated they are increasing their investment in cloud technologies over the next 12 months, but only 21% are currently completely transitioned to the cloud.

Two-thirds (66%) of respondents believe this accelerated move to the cloud will unlock benefits that help drive operational efficiency. Only 8% have "no plans" to use cloud infrastructure as part of 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.
• Nearly all survey respondents (98%) indicate that they continue to use manual spreadsheets such as Microsoft Excel, even while taking steps toward digital transformation. In fact, half (50%) of respondents say they use these tools for "the majority" of processes.
• Almost half (47%) in the U.S. strongly agreed that many US discrete manufacturers could cease to exist in the next 10 years unless action is taken.

Resources:

• To download an executive 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 US. In total, 403 manufacturers (from the aerospace & defence, medical device, industrial equipment, electronics and ship building sectors) provided feedback – 201 from the UK and 202 from the US.  

About iBASEt
iBASEt is a software company that simplifies how complex products are built and maintained. Founded in Southern California in 1986, iBASEt solutions ensure digital continuity across 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 U.S., UK, France, and India, iBASEt customers include Lockheed Martin, Northrop Grumman, Rolls Royce, Pratt & Whitney, and Textron. Learn more at iBASEt.com.

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SOURCE iBASEt