About 69 per cent of CEOs in manufacturing are worried about the speed of tech change and they’re struggling to keep pace, a report by PricewaterhouseCoopers indicates. The PwC report reveals that globally, 91 per cent of industrial companies are investing in digital factories. In a webcast titled: The Future of Manufacturing, PWC predicts that technology enabled manufacturing strategies will drive the transition to a flexible and distributed smart factory. According to PWC report titled 2020: Shaping the future of Manufacturing, 91 per cent of top management surveyed across Europe intend to invest in digital factories. Experts predict a 15-20 per cent improvement in overall equipment effectiveness by enhancing full visibility and transparency, where smart manufacturing is in full effect.

Source: The Star September 15, 2020 19:52 UTC