Post by eiraboti on Jan 18, 2024 6:06:27 GMT -5
The eighth global study, State of Smart Manufacturing: CPG Edition, shows that 44% of leaders are accelerating digital transformation across their supply chain to improve quality. This is what Rockwell Automation makes known, in a survey in which 216 Consumer Packaged Goods (CPG) leaders from 13 different countries participated. Attend THE FOOD TECH® | SUMMIT & EXPO 2023 Last weeks of free registration! HERE Industrial evolution is present in the industry The report shows clear data that emphasizes the evolution of the CPG industry, including food and beverage, where the impact of process automation and the adoption of smart manufacturing is analyzed. Furthermore, as the use of technology is essential in mitigating risks, improving quality, keeping pace with the competition, and maintaining business continuity.
Global findings in the CPG industry
of CPG manufacturers consider inflation as their main external obstacle in 2023 42% of companies are accelerating their digital transformation to keep up with the competition, while 44% are doing so to improve quality. On average, CPG companies invest just over a fifth of their operating budget on technology, with the top three investments in cloud technology (45%), supply chain planning (42%), and cybersecurity (41% ). 57% of companies Industry Email List use software to automate processes and 63% use it to better track corporate data. 48% of leaders are increasing process automation to address labor shortages. 90% of manufacturers believe they will maintain or increase their workforce size as a result of technology . 38% expect to relocate their current workforce and 29% think they will hire more workers due to technology adoption. 31% of CPG manufacturers say smart manufacturing initiatives have helped them cope with the impact of the COVID-19 pandemic and keep pace with market transformations 28% say smart manufacturing is helping them mitigate cybersecurity risks.
On this, Lee Coffey, strategic marketing manager, consumer packaged goods, Rockwell Automation commented that the CPG industry has been hit by challenges over the last year. This has led to a series of supply chain disruptions, worker shortages and inflation, all contributing to a severe impact on business. That is when technology is involved to help face challenges, using strategies that mitigate risks internally and externally. Rockwell understands that the CPG industry is constantly evolving and we are committed to providing companies around the world with the expertise and solutions they need to succeed. 95% of CPG manufacturers have implemented ESG initiatives and 44% see sustainability and ESG initiatives as a way to differentiate themselves from the competition.