If you don’t have time to read the whole report (you’re missing out on some very interesting statistics!), here are 7 of the key highlights at a glance:
- Enhanced Agility: Evidence of increased adaptability reflects a rapidly changing business environment.
- Supply Chain Resilience: A continuing 3-year trend of reduced supplier dependency suggests the sector is succeeding in its efforts to build supply chain resilience.
- Supplier Diversification: Reduced from last year, but still high, underlining the strategic actions undertaken by manufacturers to ensure consistent access to vital resources.
- Collaborative Partnerships: Manufacturers are evolving their relationships with suppliers towards a more open and collaborative model to enhance cooperation and address common challenges more effectively.
- Customer-Centricity: Improving customer service and engagement is cited as the top area for business improvement, underscoring the growing emphasis on customer satisfaction and loyalty.
- Recruitment: The report reveals a positive trend with recruitment challenges easing year on year, with many manufacturers focusing on staff retention strategies.
- Sustainability: Identified as the top business goal for manufacturers in the next 12-24 months followed by deeper relationships with customers, and increasing investment in people, premises, and processes. This reflects a clear commitment to sustainable growth.
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