Despite the decline since the 1970s, when manufacturing contributed 25% of UK GDP, the UK is currently the ninth largest manufacturing nation in the world.
Overall, the UK’s industrial sector has increased by 1.4% a year since 1948, according to a recent report from the Office for National Statistics (ONS).
The ONS attributes the sustained growth to a better quality; more skilled workforce; a shift in production from low to high productivity goods; improvements in automation and technology; increased investment in R&D, and a more integrated global economy.
Some 71% of manufacturers have said that they had spent more on IT than in the previous year. Looking at the past three years together, unprecedented numbers of manufacturers have spent increased amounts on IT. Overall, 88% of respondents reported spending more or the same as in the previous year, leaving just one-in-eight reporting that their business actually spent less.
When asked what form, precisely, did this investment take, ERP dominated – as it has in previous years – with 42% identifying it as their top investment priority.
So to stay ahead of the rest and keep up with your competitors, you need to take a look at MIETrak Pro, designed for the Manufacturing sector; adaptable, easy to use, install and implement. Can you afford not to invest?
* Information has come from the Hennik Research – Annual Manufacturing Report via The Manufacturer