Digital transformation of UK manufacturing is being held back by a lack of time, money and investment.
Companies know they need to adopt new integrated technologies but a shortage of funding and hours in the day remain key barriers to digital transformation of British industry. While barriers to new tech adoption remain, the majority of manufacturers are either planning or already implementing digital transformation strategies in order to survive, recover and grow.
That’s according to a new survey by Made Smarter that highlights the barriers to new tech adoption as well as the positive steps companies are taking to transform the way they make and do business.
The survey of 200 SME manufacturers in the North West of England highlights the need for SME manufacturers to accelerate technology adoption to overcome economic challenges around the supply chain, energy costs, post-Brexit and COVID.
The survey also revealed a fragmented awareness of the business advice and support available, meaning that SMEs could be missing out on valuable funding and support that is available to them to facilitate digital transformation.
“SME manufacturers have endured a few unsettling years and continue to face a multitude of recovery challenges. They are aware that technology brings significant benefits and they risk being left behind by not capitalising on the opportunities on offer.
“It is also clear that they need support and advice to create a roadmap to digital transformation to enable them to progressively and sustainably adopt the right digital tools to avoid risking wasted time, money and effort. “Digitalisation is the key to UK manufacturing’s post-covid survival, recovery, and growth. And with new challenges at our door such as rising energy prices, supply chain disruption and labour shortages, now is the time for business leaders to reach out and take advantage of the support on offer.”