UK Plc has long grappled with the question of how to boost productivity. For our SME manufacturing base, part of the solution hinges on increasing the adoption of industry 4.0 technologies, but it has proven to be a hard sell. With this in mind, energy price inflation is a major opportunity to illustrate just how effective digital transformation can be in having a positive impact on the bottom line for our small and medium sized manufacturers. The benefits of digitisation are clear. A 2019 report from Accenture found that digital technologies have the potential to add £455bn in value to UK manufacturing over the next decade. Add to that the fact that we will only be able to encourage more OEMs to invest and grow here if they can plug into a supply chain that is digitally enabled, and the rationale is compelling. And yet, anyone involved in digital transformation will tell you that boosting adoption in our sector is challenging, particularly when it comes to smaller firms. According to the OECD, the gap in digital adoption between businesses with 10-49 employees and larger firms has grown over the last decade. Because digitalisation is an important driver of productivity, […]
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