If you’re looking for an accurate analysis of the state of the manufacturing industry, then go straight to the source: the workers. Reputable research conducted by industry organizations is invaluable when you’re trying to make decisions for your plant or your business. In this roundup, we’ll highlight the latest surveys, reports, studies, and research that delves into the trends, topics, and technologies that are affecting the manufacturing sector.
Epicor's Future of Work in Manufacturing report
Report excerpt:
"In the “Future of Work in Manufacturing” report, Epicor combines insights from 1,400 manufacturing leaders and 1,200 manufacturing workers globally, uncovering transformative strategies for workforce satisfaction.
This comprehensive analysis highlights three pivotal areas:
- Gaps and alignment between manager and employee sentiment
- Cutting-edge connected worker technologies
- Workforce efficiency and productivity
The report illustrates Epicor’s commitment to enhancing operational efficiency and productivity, providing actionable insights for manufacturing leaders aiming to adapt to evolving industry demands while prioritizing sustainability and skill development to maintain competitiveness in a dynamic market."
Key takeaways:
- 52% of managers considered their workplace very modern in 2024, while only 39% of workers agreed
- Worker-reported turnover dropped by 6% in 2024, while manager-reported turnover rose by 25%
- 73% of managers and 53% of workers expect job changes due to automation
Quote:
"Manufacturers are navigating an era of significant change and challenge. Our latest report provides actionable insights that can help organizations align their people, processes, and technology to fine-tune their operations. By gathering and analyzing perspectives from both workers and leaders across the globe, we've gained robust insights that guide us in crafting strategies to enhance operational efficiency and embrace future opportunities." - Kerrie Jordan, Group Vice President of Product Management at Epicor
CADDi’s The American Manufacturing Pressure and Productivity Index
Methodology:
To obtain the data for the report, CADDi surveyed over 330 manufacturing professionals in the United States.
Key takeaways:
- 49% of U.S. manufacturers expect a recession to hit in 2025, with 84% believing a recession will happen within the next two years
- 27% of surveyed manufacturers worry that they aren’t transforming fast enough to survive
- 56% of respondents cite a lack of access to skilled labor as a top pressure, with 50% citing equipping current employees to step into strategic roles as an additional challenge
- Nearly 75% of senior executives are expected to retire in the next 10 years, and 68% believe at least half of their institutional knowledge will be lost forever when they retire
Quote:
"American manufacturers are feeling pressure from every angle – the economy, talent shortage, rising competition from China and Mexico, and more. Our research indicates that data and collaboration issues are exacerbating the pressure. Internal teams can't access the information they need to do their jobs and make smart and profitable decisions fast enough, which increases the stakes for manufacturers that don't take steps to address the inefficiencies." - Yushiro Kato, CEO of CADDi.
Ontinue’s Threat Intelligence Report 1H 2024
Report excerpt:
"The report found that despite patches being available, older vulnerabilities remain heavily exploited, with 50% of the top 10 trending vulnerabilities in early 2024 originating in 2023. Lockbit remains the most active ransomware group, while new players like Hunters International pose significant threats. The Manufacturing & Industrial sector has seen a surge in attacks, while the Technology/IT services sector has experienced a decline due to improved cyber defenses.
The ATO also spotlights the rise of sophisticated phishing techniques using Microsoft-owned domains, the ongoing threat of Infostealers, and the persistent danger of the PlugX RAT, particularly in government agencies. Additionally, Chinese state-sponsored cyber operations are intensifying, with a focus on information control and the use of zero-day exploits. Ontinue emphasizes the importance of proactive measures, such as staying informed through advisories and enhancing cybersecurity maturity through best practices."
Key takeaways:
- The manufacturing and industrial sectors accounted for 41% of cyber incidents in the first half of 2024, an increase of 105%
- Emerging threats include the rise of LOLSites and compromised SharePoint sites being used for phishing
- In Q1 2024 alone, over 8,967 Common Vulnerabilities and Exposures (CVE) records were published, with another 13,400 pending. However, many organizations are lagging in their patch adoption.
- Lockbit continues to be the most active ransomware group
Quote:
"Organizations can no longer afford to be reactive when it comes to cybersecurity. As cyber attackers evolve and become more sophisticated, organizations must arm themselves with the latest intelligence and defenses to protect their assets. This report highlights the critical need for businesses to stay ahead of emerging threats by leveraging real-time intelligence and enhancing their cybersecurity maturity. With the right defenses in place, we can build a more resilient future." - Craig Jones, VP of Security Operations at Ontinue