Manufacturers are increasingly relying on modern technology to run multiple aspects of their organisation, from back-end processes like HR and quality control to front-end functions like marketing automation and e-commerce.
As a result, these solutions continue to evolve year on year to support a wider range of business activities. So, it’s vital you keep up-to-date with the latest advancements to remain competitive and agile in a rapidly evolving landscape.
In this blog, we cover five manufacturing industry trends to look out for in 2023 and beyond.
Every customer is different and wants to feel special. One of the ways to fulfil this need is with personalisation.
For example, 53% of manufacturers report their customers have been more impatient since the pandemic, so by updating your customers with their order progress, potential stock shortages or delivery issues in a timely manner, you’re able to maintain trust and loyalty.
By using personalisation tactics effectively, this is a great way to ensure customers feel valued and appreciated, leading to a higher chance of repeat purchasing for manufacturers who do this. Here are just a few personalisation tactics you can use for your manufacturing business:
Find out more about using personalisation effectively here.
Increased costs have been an ongoing issue for manufacturers, from the impact of the energy crisis across the UK and Europe to fragmented supply chains.
A recent Deloitte report found that up to 80% of manufacturers have experienced heavy disruptions in the past 12 months due to cost challenges, indicating that more turbulence is likely in 2023.
By introducing technology such as IoT devices, you can better track items and carry out maintenance in your supply chain. This helps you reduce your expenses whilst also improve your supply and demand capabilities as you can do the following:
The recent COP27 summit highlighted that in 2023, businesses must incorporate better sustainable manufacturing practices within their supply chain, from the delivery of raw materials to the finished product.
With new regulations being introduced in 2022 - including the Plastic Packaging Tax and the Climate Change Legislation - now is the time to be looking at how you can reduce your environmental impact. Here’s how you can become more sustainable in 2023:
We’re seeing a rising number of resignations in the manufacturing industry, with a PwC report finding that one in five employees are thinking of switching employers in the new year.
The report also found that only 26% of employers are automating and enhancing their workforce through introducing modern technology and training them on how to use it. So, it’s clear more work needs to be done to retain existing talent and prevent shortages in 2023.
Here are a few ways you can do this:
While legacy systems can collect and organise data, they haven’t got the powerful reporting and data analytics features of today’s systems.
With today’s solutions, you can use tools like integrated analytics to make critical business situations around finance, future investments, sales, marketing, and more. This allows you to make data-driven decisions quickly and at any level – from manufacturing division up to the executives.
For example, software with machine learning capabilities can go through your maintenance data and predict when breakdowns are likely to happen. This helps you optimise maintenance schedules so you can service or replace parts before they cause problems.
Today’s manufacturing solutions are rapidly progressing and changing the way we do business, with more advanced technologies being added to the roster every year to drive efficiencies. That’s why you need focus on your implementation efforts now to stay ahead of your competitors.
In our guide, we cover the key elements guaranteed to help you tackle digital transformation. These include the differences between change and transformation, why people are a root cause of transformation projects failing and how to avoid it, plus the formula for creating new value.
Download it below.