Internet of Things


Can digital technology drive manufacturing growth as a recession looms?


they can quickly and efficiently alter their ways of working to soften the inevitable impact. As inflation and energy costs continue to rise at a


W


rapid rate, small-scale manufacturers face major obstacles. Planning for growth while overcoming these challenges may seem like a daunting task, but rather than solely focusing on getting through the ‘here and now’, manufacturing businesses should look at how they can implement new technology solutions which will help in the long run. A 2022 survey showed that out of 200 SME


manufacturers, 35 per cent are most focussed on survival, whereas 80 per cent are happy to invest in new technologies if they can see the clear benefits for the future.


Although just under half of those manufacturers


surveyed also said that a key barrier in adopting new systems was lack of funding, it is clear that the appetite to invest in digital technology is strong. This is where tailored ERP systems can transform processes and minimise the risk of investment.


FACING THE HURDLES In August 2022, the Chartered Institute of Procurement & Supply’s factory Purchasing Managers’ Index score fell to under 50, the minimum score considered to represent growth. The findings from the index


suggested that manufacturers are facing


ith the Bank of England releasing news that the UK is set to enter an economic recession before the end of 2022, all industries are looking at how


Benoit Wambergue, VP of cloud products strategy at manufacturing technology specialist Forterro, discusses how digital adoption could help the UK’s manufacturing sector to navigate economic headwinds and prepare for the next stage of growth.


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November 2022 Instrumentation Monthly


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