New global research underscores the importance of manufacturing visibility in an unprecedented supply chain environment.
AUSTIN, Texas – LeanDNA, the leader in effective supply chain orchestration, and the Association for Manufacturing Excellence (AME), the premier organization for the exchange of knowledge in enterprise excellence, today released “State of Supply Chain in the New Shortage Economy,” a report examining the biggest pain points and opportunities for manufacturers. Results from the survey of manufacturing professionals highlighted the need to digitally transform inventory data to better prioritize supply chain actions and collaborate across businesses.
“Today’s manufacturers are facing unprecedented challenges that have been amplified by the pandemic, from growing demand for customization to complex workflows to increasingly globalized operations,” said Kimberlee A. Humphrey, president and CEO of AME. “Our research shows that the industry must gain better insight into their supply chain processes to increase efficiency and improve outcomes.”
Highlights from the report include:
- Manufacturers are facing several challenges that limit their ability to respond to issues that affect planning, procurement, and suppliers.
- 95% of manufacturers are investing in factory automation, but most haven’t automated the factory’s critical data and intelligence aspects.
- The top hurdles to factory transformation are a lack of expertise and resources, limited budget, and ineffective change management.
- A significant majority of manufacturers believe additional insight and visibility into the supply chain is necessary to avoid shortages, optimize inventory, make processes more efficient, and reduce expenditures.
“We understand the challenges of the new shortage economy and believe the factory is the greatest source of untapped strategic value for manufacturers,” said Richard Lebovitz, CEO of LeanDNA. “By adding emerging technologies to existing enterprise IT investments, the manufacturing industry will have the tools needed to enable a true digital transformation of the supply chain.”
The report provides three practical steps manufacturers can take to gain increased inventory visibility, make better decisions faster, save money, and improve customer and supplier relationships.
On March 2, Richard Lebovitz, CEO of LeanDNA, Robert Martichenko, director-at-large of AME’s board of directors, and Louis Librandi, Supply Chain & Manufacturing Operations Principal at Deloitte Consulting will host a webinar on the State of Supply Chain in the New Shortage Economy.
Global Survey Methodology
AME and LeanDNA surveyed leaders at global manufacturing companies across a variety of industries, roles, job functions, and company sizes. Click here to download the full report.
LeanDNA is the leader in effective supply chain orchestration. We empower manufacturers to increase output and productivity and turn their plans into actions by connecting the people who execute with the priorities that matter. Our award-winning technology is modernizing the manufacturing industry and advancing economic growth worldwide. Learn more at leandna.com.
About the Association for Manufacturing Excellence
Since its founding in 1985, the Association for Manufacturing Excellence (AME) has grown into the premier not-for-profit organization for the exchange of enterprise excellence knowledge. The association’s 4,000 members come together through practitioner-to-practitioner experiences to explore lean thinking and other operational improvement methods, exchange best practices, and network. Through engaging workshops, plant tours, summits, and industry-leading conferences, AME members discover and implement new continuous improvement strategies in order to share, learn and grow. For more information, visit ame.org.