2013 Next Generation Manufacturing Study Reveals Opportunities for Manufacturers to Excel
Friday, 04 October 2013 10:42
FOR IMMEDIATE RELEASE
October 4, 2013
Contact: Robynn Albert, VMEC Marketing & Training Manager
Vermont Manufacturing Extension Center (VMEC)
P.O. Box 12, Randolph Center, VT 05061
Cell: (802) 793-2078 / [email protected]
Randolph Center, VT – In conjunction with National Manufacturing Day activities being held during the month of October across Vermont, the Vermont Manufacturing Extension Center (VMEC) is pleased to announce the release today of the “2013 Next Generation Manufacturing (NGM) Study.” The NGM Study measures manufacturers’ readiness, support systems, resources, and performances in six key strategic areas necessary for world-class manufacturing and future success. Those key areas include: 1) Customer-focused Innovation; 2) Engaged people / human capital acquisition, development and retention; 3) Superior processes / improvement focus; 4) Supply chain management and collaboration; 5) Sustainability; and 6) Global engagement.
“The study data identifies an enormous execution gap – the difference between the numbers of firms that recognize the importance of a particular NGM strategy, and the number that comes close to or that achieved world-class status in that strategy,” said John Brandt, Founder & CEO of MPI.
The Next Generation Manufacturing Study Results:
- 90% of manufacturers believe superior process improvement is important, whereas only 44% of those manufacturers are near or currently at world-class status in process improvements.
- While human capital management is an issue, NGM data suggests few manufacturers are taking initiative to address talent shortages: 69% of manufacturing executives have the leadership and talent to drive world-class customer-focused innovation, but only 37% have talent development programs to support world-class customer-focused innovation.
- Most manufacturers have the tools, technologies and business equipment they need today, but those tools won’t meet the needs of the future. Only 11% of manufacturers describe their tools and business equipment as “state-of-the-art” and capable of providing long-term support for world-class supply-chain management.
- 33% of manufacturing executives anticipate a planned leadership succession in the next five years. Another 28% of executives indicate a succession may occur.
- Similar to 2011, manufacturers continue to seek external support from outside organizations in dealing with a range of activities from compliance issues, to strategic planning, to supply-chain development. Of those manufacturers that have used outside resources, they report a positive impact.