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Rising input costs The increasing cost of materials , commodities , energy , fuel , and labour rates is squeezing manufacturer margins where these additional costs cannot easily be passed on .
Market and supply chain volatility It is getting increasingly difficult to predict the impact of events that directly affect customer demand and supply availability ( e . g the COVID-19 pandemic , regional conflict , severe adverse weather patterns and natural disasters ).
Spiralling supply chain complexity The pursuit of lower costs has lengthened global supply chains introducing longer leadtimes and associated risk ; and the evolution of supply chain partner ecosystems has also added a layer of complexity to planning and execution processes involving multiple external parties .
“ In response , leading companies are developing smart manufacturing capabilities to address these challenges head-on to become leaner , more responsive to change and more resilient ,” said Fosbrook . “ It is working – research has shown that companies investing in smart manufacturing capabilities typically achieve a 26 % higher level of profitability than their peers . At Eviden , we have helped our clients realise and sustain impressive improvements including a 30 % increase in throughput and a 50 % reduction in unplanned equipment downtime . ”
Eviden has a growing list of examples where it has first-hand experience of
48 February 2024