Made Smarter gauges industry attitudes towards investing in new technology
A survey conducted by Made Smarter has found that productivity, efficiency and growth are the key factors for driving UK manufacturing success in the near future.
200 North West-based SMEs were surveyed with the aim of finding out how the events of the past two years have affected their businesses, as well as their attitudes towards adopting new technologies. With Industry 4.0 beginning to establish itself among the tech market, the ways in which businesses manufacture and distribute their products have changed forever. SMEs in particular are focused on improving productivity and embracing digitalisation. 36 per cent of SMEs surveyed said that industrial machinery and automated solutions are the main interest areas for investment, whilst 72 per cent of smaller businesses are looking to improve data and systems integration.
An interesting discovery made as a result of the survey includes the fact that a super-majority of SMEs (80 per cent) are willing to make a calculated risk of investing in new technologies.
Donna Edwards, Programme Director for the Made Smarter adoption programme in the North West, said: “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.”
As a case in point, Bolton-based plastic compounder Norlin Compounding experienced a 15 per cent boost in productivity earlier this year through the support of Made Smarter and a £30,000 investment in gravimetric blending technology that enables digital integration with its ERP system.
As well as an increased output, the high precision dosing ability has increased product homogeneity and much lower deviations (around +/-0.1%) against customer specifications.
Edwards added: “Norlin is among hundreds of manufacturers in the region grasping the opportunities offered by Made Smarter which include expert, impartial technology advice, digital transformation workshops to help take that first step to transform a business, a leadership programme, and funded digital technology internships. I would encourage other SME manufacturers to do the same.”
The survey also revealed a ‘fragmented awareness’ of the advice and support available, meaning some SMEs are potentially missing out on valuable funding and support.
Exhibitions and trade shows such as Interplas UK remain the most popular and effective platforms for SMEs to engage with digital technology specialists, according to the survey.