Digital Adoption: The Missing Link in Productivity Growth
Make UK in association with Infor recently published the report, and revealed that Britain’s manufacturers are transforming their businesses by taking advantage of the digital adoption revolution, and through this, they are building resilience, increasing international competitiveness and improving productivity.
Britain’s manufacturers are accelerating their investment in digital technologies as the fourth industrial revolution gathers pace, driving increased productivity, creating greater demand for higher-level skills, and improving their energy efficiency.
The global pandemic and the massive disruption to supply chains, as well as the UK’s exit from the EU, are just some of the external drivers that have swayed larger cohorts of manufacturers to adapt their processes and digitalise their systems.
The current financial challenges and the increasing cost of energy are likely to drive this adoption further, with the survey showing that manufacturers intend to increase their investment in digital technologies in the next two years.
As a result, more companies are moving to the ‘evolution’ stage of digital adoption, which is where they are implementing changes to their processes, marketing, product design, manufacturing systems and finance.