The Manufacturer’s Annual Manufacturing Report is the barometer for the UK manufacturing industry. Are manufacturers truly adopting a service-orientated business model?
of manufacturers are adjusting their business in new ways to achieve growth
believe their attitude to growth is unaffected by political and economic uncertainty
see climate change and a carbon neutral future as an opportunity to transform
Manufacturing plays an important part of the UK economy, with the industry making up 11% of GVA, 44% of total UK exports, 70% of business R&D, and directly employing 2.6 million people*.
Our Business Transformation chapter within The Manufacturer’s Annual Manufacturing Report 2020, surveyed UK manufacturers to better understand the issues and wants of the sector during a challenging time politically and economically.
The chapter emphasises a major shift in an organisation’s capabilities and identity so that it can deliver valuable results, relevant to its purpose, that it couldn’t master before.
Business transformation inevitably involves a change at every level of a business, from organisational culture, to technology, product range and delivery. The opportunity is huge but for manufacturers to capitalise and reap the benefits they must be ready to embrace it and continue to scan the horizon for upcoming challenges and opportunities, rather than continuing with business as usual.
You could have the ultimate smart factory with all the right talent but if you don’t have the product and business model that your customers desire, then failure may still come. We have seen that companies in the manufacturing industry are shifting towards a more service-orientated business model.