The newly released 2021 State of Manufacturing Report from Fictiv has revealed that the industry is already rebounding from COVID-19 disruptions, with investments in digital transformation aimed at improving speed, resilience and sustainability. While areas of concern persist, most report that lessons from the pandemic have paved the way for new innovations.
Key takeaways include:
“The overriding takeaway from this year’s report is that the pandemic served as a catalyst to turn emerging digital ideas into strategies that are now irrevocably changing supply chains,” said Dave Evans, CEO of Fictiv. “Companies moved quickly and decisively to solve short term problems but recognized that the limitations of their current supply chains required long-term investment and innovation. Looking ahead, industry leaders are nearly unanimous in their expectations that those digital investments will help them build faster, greener, and more resilient supply chains.”
Conducted with Dimensional Research, the sixth annual manufacturing industry report polled hundreds of senior manufacturing and supply chain decision makers at companies producing medical device, robotics, automotive, aerospace. and consumer electronics products. A number of themes emerged from the report:
Right-shoring vs Re-shoring
Supply Chain Concerns Stifle Innovation
Power of On-Demand Manufacturing
“The pandemic also served as a proving ground for new ideas,” said Jean Olivieri, COO of Fictiv. “A super majority of those polled said that their comfort level with work from home influenced their positive attitudes towards flexible manufacturing arrangements. With 84% having used on-demand manufacturing solutions over the past year, it’s obvious the industry is becoming less reliant on the ownership of physical spaces and wholly owned processes.”
For a full copy of the 2021 State of Manufacturing Report can be found at www.fictiv.com/2021-state-of-manufacturing-report
Fictiv is a Digital Manufacturing Ecosystem that rapidly delivers custom mechanical parts on-demand to help teams accelerate new product innovation. Its quality-driven ecosystem delivers unprecedented manufacturing agility and speed through a digital quote-to-order platform, highly vetted and managed global partner network, and team of manufacturing experts that manage programs and inspect quality every step of the way. Different from traditional contract manufacturers, Fictiv’s operations are built around a digital core that leverages proprietary AI algorithms to deliver instant pricing, design for manufacturability feedback, and production transparency. Fictiv’s portfolio of optimized manufacturing services includes 3D printing, CNC machining, urethane casting, and injection molding. Over the last seven years, Fictiv has manufactured more than 12M parts for early-stage companies and large enterprises alike, helping them innovate with agility and get products to market faster.
Timely, incisive articles delivered directly to your inbox.