Drives & Controls June 2022

Join us on Facebook Drives & Controls Follow us on LinkedIn @Drives & Controls Followus on Twitter @DrivesnControls For the latest news visit the Drives & Controls website www.drivesncontrols.com Find out the latest on Drives & Controls Show www.drives-expo.com SHOW Drives & Controls Drives & Controls It has become something of a cliché to suggest that British manufacturers take pride in their ability to“sweat their assets”and to keep their existing equipment going as long as possible, rather than invest in new kit. But a new survey suggests that this – if true – is not through choice. The poll of 201 UK manufacturing executives reveals that almost all of them (94%) believe that a lack of investment in digital technologies is hampering their productivity, with 73% reporting that legacy technologies are negatively impacting their businesses. This is more than the 67% who blame Brexit for causing them problems. Almost all (93%) predict that under-investment will lead to many UK manufacturers going out of business over the coming decade. The UK survey was part of a larger exercise that also included a similar number of executives in the US. The study* was conducted by iBASEt, a US company that simplifies the building and maintenance of products, in conjunction with the UK’s Manufacturing Technology Centre. The combined results of the UK and US surveys reveal that manufacturers in both countries are slipping behind in their digital transformation efforts, despite earlier pandemic-driven investments in new technologies. Although those quizzed report that Industry 4.0 technologies were critical to sustaining their operations during Covid- enforced shutdowns, most are still grappling with a lack of system and process maturity that prevents them from using operational data for business intelligence and smarter decision-making. Nearly three-quarters (72%) of the respondents report that they invested in new technologies during the pandemic, and 98% saw an increase in productivity as a result. But less than half (44%) feel that this modernisation is providing themwith additional actionable data, and 19% are not harnessing any data insights at all. The survey also found that although most manufacturers are migrating enthusiastically to the cloud, few have made the full transition. Almost all (88%) plan to boost their investments in cloud technologies over the coming 12 months, but only 21% have completely transitioned to the cloud already. Two-thirds (66%) of the executives surveyed believe that if they accelerate their move to the cloud, this will unlock benefits that help them to improve their operational efficiency. Only 8% have no plans to use cloud infrastructures as part of their manufacturing operations. So it appears that British manufacturers do indeed to have the will to modernise, but a reluctance to make the necessary investments is holding them back, and most have yet to experience the potential benefits of digitalisation. Sweating assets is no longer a realistic option, let alone a badge of honour. Tony Sacks, Editor * You can download the report from https://drivesncontrols.news/7rdufm n COMMENT OLD KIT: A BIGGER BURDEN THAN BREXIT?