EEF's research into the UK manufacturing investment increase: An expert comment
As previously reported by Manufacturing Global, EEF has released a report showing that British factories are about to increase investment at the strongest rate in four years.
The report also indicated that manufacturing will play a major role in the support of the economy next year.
Gill Devine, VP Sales EMEA at Syncron, added the following expert comment:
“Manufacturing Organisation EEF recently revealed British factories are set to increase investment at the strongest rate in four years, and that the manufacturing sector will strongly support the potentially stagnant economy in 2018. With this uptick in manufacturing and orders of new durable goods, manufacturers must be equipped to service a product throughout its entire lifecycle.
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“Today’s customers increasingly expect maximum product uptime, so manufacturers’ service supply chains are certainly an area that merits investment. Manufacturers must ensure their products remain up and running at all times, however service parts management methods of today are largely insufficient. More often than not, service attempts fail due to a missing part, rendering equipment idle and productivity stalled.
“Manufacturers have an opportunity to improve customer satisfaction and differentiate from competitors by ensuring their equipment is continually functioning and productive, but it requires investment in technology: investing in advanced, cloud-based after-sales service solutions will enable them to introduce predictive maintenance and remote performance monitoring.
“Maximised product uptime is rewriting the book on what performance means for manufacturers. And to meet this new definition of performance, manufacturers need to rethink their operations strategies across the board to make product uptime a priority.”