Key findings from the report include the following:
- Manufacturers are focused on understanding their product cost and profitability:
Only 12 percent of respondents said they were ‘very effective’ at determining product profitability.
- Organizations are rethinking their product development strategy:
Respondents are increasingly focused on enhanced spending, shifting towards breakthrough innovation objectives and exploring new collaborative business models to create competitive advantage.
- Supply chain transparency and visibility remain a key challenge for manufacturers:
Forty percent of respondents admit they lack visibility across their extended supply chain, with 33 percent saying it was due to either inadequate IT systems or a lack of skills.
- A majority of respondents think that they could achieve a globally integrated supply chain within the next 3 to 5 years:
More than half say that their relationship with top tier suppliers is now strong enough for them to share real-time capacity and demand data.