Latest News Thu, Jan 10, 2019 2:42 PM
The fourth industrial revolution (Industry 4.0) requires transformational change at a pace that many manufacturers are not matching, according to a new report from KPMG.
It also warns that if they continue on the current trajectory, they are likely to be disrupted by competitors and new market entrants.
Philip Harris, Associate Partner and Industry 4.0 Country Leader at KPMG in the UK, said: “It’s clear from many of the conversations we’re having with manufacturing organisations that few have developed or moved forward with Industry 4.0 strategies or plans, and some still don’t understand how it will affect their business.”
KPMG’s latest report and recommendations, whilst global in nature, are even more important for the UK’s makers. The UK is significantly behind its G7 counterparts with productivity and has been the weakest of the four European countries for almost a decade. Whilst the latest official statistics showed that job growth in the manufacturing industry has risen, productivity has fallen and it’s here that many manufacturers are missing a trick with Industry 4.0.
Harris commented: “Industry 4.0 presents a huge opportunity for the UK’s manufacturers to improve productivity, but it could also be a threat to those who don’t embrace it and fall even further behind. They have a chance to catch up, but only if they act now.
"What we’re seeing, however, is that many don’t fully understand what Industry 4.0 is, and those who do are still in the early stages experimenting with it. As a result, very few are implementing it at scale based on a well-thought through roadmap or strategy.
“Manufacturers need to move from experimenting with Industry 4.0 to embedding it into their entire organisation to ensure they capture the benefits. Most are talking about it, but very few are doing it at scale to really benefit from the rewards it can bring.
“Brexit uncertainty continues to loom, but Britain’s manufacturers can’t afford to let this distract them, particularly as they have an opportunity to leapfrog the competition on productivity if they get their industry 4.0 strategies right.
"If they don’t act now and act boldly, then there’s a higher risk that international competitors, particularly in the EU, will ramp up faster and leave the UK even further behind.”
Featured News
Hardwood flooring specialist Ted Todd has launched two new flooring collections,...
A wide range of businesses have secured a place on a major eight-figure framework...
BUILDING PRODUCT LIBRARY - LATEST BROCHURES
FRAMESAFE FR A2 FIRE...
By Glidevale Protect
A Guide to Aluminium...
By F.H. Brundle
Handrailing & Balust...
By F.H. Brundle
RLG600 Access Floori...
By Kingspan Data & Floo...
RHG600 Simploc
By Kingspan Data & Floo...
BUILDING PRODUCT DIRECTORY - LATEST PRODUCTS
Straightcurve® – headquartered in Australia, is renowned for high-end innovative garden edging,...
The Kingspan RLG600 raised access floor panel is intended for light office use and is capable of...
Kingspan RHG600 Simploc is the heavy grade floor system, capable of handling up to a 12kN/m2...
CONSTRUCTION VIDEOS - LATEST VIDEOS
Straightcurve® Product Range Overview - A Demonstration of Installation Ease
In progressive and dynamic business sectors, such as construction, it’s natural to be forward...
Decorative aluminium horizontal bulkheads more than 100 metres long have been supplied and installed...