- External conditions pose questions. Could technology be the answer? Part of PwC’s 22nd CEO Survey trends series
Source | www.pwc.com
Technology could become like oxygen to the industrial manufacturing sector
For industrial manufacturing (IM), a series of external challenges ultimately may be catalysts for action that the industry has avoided for many years. Global trade disputes, tariffs and trade barriers, political instability and even the potential onset of a recession are topping a long list of threats that could have palpable repercussions for companies that make complex engineered products and equipment mostly for manufacturing operations and earth-moving projects.
Industrial manufacturers are not used to dealing with these types of global headwinds.
Many industrial manufacturing companies have not implemented digital tools across their business lines that would give them a low cost and lean operating environment flexible enough to respond quickly to geopolitical and global economic challenges.