New Technology Is The #1 Driver Of Spend On Operational Excellence – Survey Finding
Next week we will publish our second annual survey of operational excellence decision-makers. This year we interviewed 284 managers in operations, engineering and maintenance roles to find out about their 2020 budgets, priorities and technology preferences. One data point stood out: 49% of the respondents, representing 13 asset intensive industries, said that the availability of new technology is a ‘very significant’ driver of spend on operational excellence. Amazingly, this beat out factors such as cost cutting programmes (39%) and the impact of industrial accidents (35%) as a driver of spending.
Whilst the Verdantix research team thinks that media coverage and vendor marketing about “Industry 4.0” is overblown, it’s nevertheless clear that people running operational excellence initiatives do incorporate digital technology into their thinking. Before vendors of UAV inspection solutions, computer vision for PPE compliance and connected worker platforms get too excited it’s worth mentioning that for our 284 interviewees ‘new technology’ includes established systems such as asset performance management software, gas detection devices and industrial equipment monitoring systems. Other questions in the survey reveal a strongly positive perception of the role of digital technology including bleeding edge concepts like digital twins.
To learn more register to attend the forthcoming webinar: ‘Operational Excellence In 2020: Budgets, Technology Plans and Business Priorities’.