B2B Payments

Report: E&M Firms Have Fallen 10 Years Behind

In many countries, engineering and manufacturing are key to economic growth. However, according to a recent study that was commissioned by DHL Supply Chain, engineering and manufacturing firms (E&M) across the globe are trailing 10 years behind other sectors in terms of supply chain development.

The report’s author, Lisa Harrington, explained in a statement that change won’t come easily to this industry. Many organizations have been around for over 80 years, she said, and often have a “business as usual” mindset, which could prevent them from wanting to move forward.

“But it is imperative that they transform their supply chains in order to meet the demands of modern business with its onus on faster, leaner and more resilient operations,” she said. “Those that do so can use their newly discovered logistical capability as an offensive weapon against competitors who fail to adjust.”

DHL Supply Chain VP of global sector development for automotive, engineering and manufacturing Andy Ramsden said that more forward-thinking E&M companies are going to be given a great chance where they can leap over supply chain development. According to Ramsden, automotive and consumer goods sector companies have already adapted to the changing technologies and have developed an organized model. The E&M organizations that are able to similarly adapt will find the most success, Ramsden said.

“What’s Hot” is aggregated content. PYMNTS.com claims no responsibility for the accuracy of the content published by the original source.

——————————–

Latest Insights: 

The Which Apps Do They Want Study analyzes survey data collected from 1,045 American consumers to learn how they use merchant apps to enhance in-store shopping experiences, and their interest in downloading more in the future. Our research covered consumers’ usage of in-app features like loyalty and rewards offerings and in-store navigation, helping to assess how merchants can design apps to distinguish themselves from competitors.

Click to comment

TRENDING RIGHT NOW

To Top