Manufacturers can no longer postpone investments in digital technologies to alleviate current pressures

After taking the temperature of process manufacturers, ABI Research finds that fast-moving consumer goods manufacturers are approaching boiling point

LONDON, August 30, 2022 /PRNewswire/ — Global Technology Intelligence Firm ABI Research assessed the impact that politics, regulation, economics, supply chain, ESG, and technology are having on manufacturers of fast-moving consumer goods (FMCG), pharmaceuticals, steelmakers, chemicals, pulp, and paper, as well as in mining and oil. and gas sectors.

“Our assessment found that the FMCG sector is under pressure from all sides,” says Michael Larner, Director of Manufacturing and Industrial Research at ABI Research. Securing raw materials is challenging considering lockdowns in Porcelain and limited grain supplies Ukraine. Supply shocks are driving up input costs and operating costs are rising with higher energy costs coupled with pressure to pay higher wages and work sustainably.

“We all hoped that with the release of COVID vaccines, the world would return to ‘normal’,” Larner continues. “However, events have taken a different turn, with effects being felt far and wide. Political decisions and regulations have the biggest impact on the operations of these companies. After all, governments can shut down cities and restrict transportation.At the same time, production can be halted due to product recalls, as seen currently at Abbot Laboratories’ baby formula facility in the United States.”

Each industry is at very different stages of digital maturity. Large mining companies, such as Rio Tinto, are automating many processes, and oil and gas companies, including Saudi Aramco, are using data analytics to monitor operations and their immediate environment. Steel, pharmaceutical, and pulp and paper producers have more work to do to connect their operations digitally and use some of the cutting-edge technologies. Meanwhile, FMCG companies (Procter & Gamble is one example) are working to align IT and OT teams.

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Manufacturers can no longer postpone investments in digital technologies. “Technology is part of the solution to ease pressures. For example, data analytics can help companies understand the potential impacts of supply chain issues and optimize production to maintain price points. “Software can help companies participate in the circular economy and incorporate recycled materials into their products, as seen in the paper and steel industries. Digital technologies are part of the solution,” concludes Larner.

These findings come from ABI Research’s Digital Transformation in Process Manufacturing and Extractive Industries report. This report is part of the company’s Manufacturing and Industrial research service, which includes research, data and ABI Insights.

About ABI Research

ABI Research provides practical research and strategic guidance to technology leaders, innovators, and decision makers around the world. Our research focuses on the transformative technologies that are dramatically reshaping industries, economies, and workforces today. ABI Research’s global team of analysts publish groundbreaking research many years before other technology advisory firms, allowing our clients to stay ahead of their markets and their competitors.

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SOURCE ABI Research

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