Fictiv: 2022 Manufacturing Industry Report

Manufacturing, Evolution

After experiencing numerous supply chain disruptions over the past few years, a top priority for businesses in 2022 is improving manufacturing and supply chain visibility.

Barriers are falling

Manufacturing leaders face fewer barriers to innovation each year than in 2021, but providing fast, high-quality options for low-volume purchasing remains a challenge.

Focus on the fundamentals

Top business priorities for 2022 suggest that leaders do not want to be caught off guard by disruptions or to distract from the need to purchase their products.

Simplifying the supply chain

In the modern world, it is rare for a company of this size to do all of its production in-house, and the economic benefits of outsourcing are well established. Despite the risks that outsourcing carries, especially in terms of security and visibility, almost half of the respondents have increased outsourcing.

Outsourcing brings efficiency and quality advantages

Nearly three-quarters of respondents have a positive attitude toward outsourcing overall, citing efficiency, quality, pricing and speed as key advantages.

Not all outsourcing is created equal

When it comes to outsourced manufacturing providers, quality, safety and visibility are clearly seen as major pain points by some companies.

Localization and diversification are on the rise

Uncertainty surrounding overseas logistics remains a concern for businesses. That’s why 65% ​​of companies plan to increase U.S. manufacturing this year, with nearly three-quarters of respondents prioritizing domestic production.

Keep up with customer needs

Customer expectations are higher than ever, and that trend isn’t changing anytime soon. Companies know they need to rise to the challenge or risk falling behind their competitors.

Customer needs

To effectively serve customers, companies must know what they want. 97% of respondents said customer needs are changing.

Optimizing operations to maximize innovation

Companies may not be able to control exactly which innovations will lead to breakthrough successes, but they can create an environment that fosters innovation and creativity.

An investment in operational efficiency is an investment in innovation

Manufacturing leaders have recognized the importance of workforce and productivity in unleashing innovation.

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