A large majority of 300 manufacturing CEOs surveyed globally say they need to plan and move fast to reap the benefits of digital transformation. Nearly two thirds agree that acting with agility is “the new currency of business; if we're too slow, we will be bankrupt.”
One way to prepare for disruption is to understand how current competitors are likely to behave and which technologies they may invest in. It is also important to track start-ups across the globe that are reimagining the way business will be conducted. Yet only two out of five manufacturing CEOs say they will need to improve the way that they monitor market disruption over the next 3 years. With the incredible pace that business disruption is moving, no CEO can afford to be caught unaware.
“You will dock your digital environment in your phone in the vehicle you step into, whether it’s a rental or a car-sharing service.” Charlie Simpson Partner, KPMG Global Strategy Group KPMG in the UK
Digital technologies create tremendous opportunities for growth and transformation at manufacturers, but few have taken full advantage of them. In this 8th edition of the Global Manufacturing Outlook report, our findings from a survey of 300 CEOs and interviews with manufacturing industry executives and KPMG partners show there is no time to waste in building a comprehensive digital transformation strategy.