Manufacturing Industry Must Move Faster to Respond to Digital Disruption
- Survey commissioned by Fujitsu reveals that three-quarters of manufacturing industry leaders see technology as the key to their future success
- Digital disruption has already swept through the manufacturing industry, 98 percent of leaders agree
- To remain competitive, collaborating with technology experts will be crucial, according to 71 percent
Fujitsu’s study confirms that the effects of increased digitalization are widespread across multiple industries, and C-Suite decision makers within mid to large sized businesses agree that this is fundamentally redefining the way that their organization operates. The manufacturing sector is among the most optimistic regarding digital disruption, with more than two-thirds (69 percent) “enthusiastic or excited” about digitization, and 80 percent agreeing that it is a positive force on their businesses and sector. Among the 250 manufacturing industry leaders surveyed, almost all (98 percent) stated that their individual organizations have already been impacted by digital disruption, while more than 9 in 10 (92 percent) are already taking measures to make the most of the new opportunities it provides.
In the manufacturing segment, Fujitsu’s study shows that executives believe the greatest opportunities relate to transforming business operations and processes. As a result, more than half (55 percent) identified “investment in innovation” as key to future success, and more than three-quarters (77 percent) believe technology is at the heart of their organization’s ability to thrive.
In terms of approach, manufacturers are pragmatic and do not overestimate their ability to deploy the right technology on their own: Some 71 percent feel that collaborating with technology experts is vital for their future success. Co-creation with other organizations is also seen as the key to addressing digital disruption, with the early adopters already taking steps down this path, as 36 percent said they are already focusing on developing these crucial partnerships.
As they come to terms with the opportunities and challenges associated with digitalization, manufacturers are growing in confidence. Over half (54 percent) state they are more confident now in making the right decisions on digitalization than they were two years ago; however, the same percentage did admit that digital disruption makes long-term decision-making more difficult.
High levels of manufacturing industry confidence were a further finding from the Fujitsu study. Sixty-nine percent consider the manufacturing sector to be a leader in digital transformation. A similar number of executives (63 percent) believe their organization is leading the charge. Furthermore, over half of them (56 percent) believe their home country is setting a digitalization example for others. This makes manufacturing one of the most confident sectors in its own leadership – surpassed only by financial services.
Christof Schleidt, Director Business Development and Digital Transformation at Fujitsu, said: “Manufacturers are clearly confident about the positive changes that digitalization can bring about for their businesses, and many consider themselves to be among the leaders in their field. Executives in the manufacturing industry clearly believe in technology and innovation as the keys to success. However, manufacturers aren’t overestimating their own capabilities. They are fully aware that they have to do more to successfully participate in digital arenas, and are establishing strategic partnerships that can help them co-create their own digital transformation. This is an exciting time in manufacturing, as digitalization impacts and transforms business – but means that companies who expect to thrive in the digitalized new world will also need to move faster in the future, simply to keep pace with the demands of their industry.”
Notes to editors
The “Fit for Digital: Co-creation in the Age of Disruption”
quantitative research was carried out in September 2016 by independent research company Censuswide. The survey covered 1180 C-Suite decision makers within mid to large sized businesses across public sector, financial services, retail and manufacturing, including 250 respondents from the manufacturing sector. Respondents were in the US (210), UK (156), Australia (152), Germany (152), Spain (150), France (150), Italy (150), Finland (30) and Sweden (30).
Fujitsu is the leading Japanese information and communication technology (ICT) company offering a full range of technology products, solutions and services. Approximately 156,000 Fujitsu people support customers in more than 100 countries. We use our experience and the power of ICT to shape the future of society with our customers. Fujitsu Limited (TSE: 6702) reported consolidated revenues of 4.7 trillion yen (US$41 billion) for the fiscal year ended March 31, 2016. For more information, please see http://www.fujitsu.com.
About Fujitsu EMEIA
Fujitsu enables customers to capitalize on digital opportunities with confidence, by helping them to balance robust ICT and digital innovation. Fujitsu’s full portfolio of products, solutions and services gives its customers a competitive advantage in the era of digital transformation. In Europe, the Middle East, India and Africa (EMEIA) the company employs more than 29,000 people. For more information, please see http://www.fujitsu.com/fts/about/
All other company or product names mentioned herein are trademarks or registered trademarks of their respective owners. Information provided in this press release is accurate at time of publication and is subject to change without advance notice.
Date: 06 April, 2017