SmarterChains published a first-of-its-kind benchmarking study into the digital capabilities of companies within the consumer packaged goods (CPG) industry. Leveraging a pioneering methodology, the study identifies key areas of strength and opportunity within the industry’s application of Industry 4.0 – helping manufacturers and global supply chain professionals to accelerate their digital transformations, adopt new technologies, drive automation and data exchange, and unlock value for a wide range of stakeholders.
As the recent coronavirus (Covid-19) outbreak has highlighted, many manufacturers have limited resilience, with fragile supply chains and often insufficient agility, in particular. More than ever, there is a clear need for digital transformation and Industry 4.0 implementation to cope with unexpected disruptions. By adopting Industry 4.0 technologies, manufacturers can drive throughput delivery, accelerate their bounce back, and level up their capabilities and performance. SmarterChains’ study addresses this urgent demand within the CPG industry to prepare, define and execute the transformation efforts. In this way, the study’s insights will help leaders’ decision making to steer their companies through these turbulent times.
“We’re proud to present our unique Factory of the Future benchmarking study for the CPG industry. This study provides insightful information and down to earth guidance for companies to adapt to new technological realities. A transformative approach to turn the idea of digital operations into a tangible and sustained reality enabling competitiveness. A game-changer – SmarterChains, is where Industry 4.0 happens,” says Gustavo Ghory, Chairman & Co-Founder SmarterChains.
Sponsored by EY, the study of the CPG industry represents – to date – the most comprehensive data-driven analysis of the CPG’s Industry 4.0 technologies, covering digital, automation, organization, and leadership capabilities. Specifically, 336,000 data points covered 500 evolving technologies down to production line level, across teams of all factory operations. Among other findings, the study underlined that 90% of participating companies - all of which are significant players with the CPG industry – are yet to leverage digital technologies at scale.
“The COVID-19 crisis is exposing many supply chains as inflexible and proving that digitalization efforts are lagging. The research conducted by SmarterChains finds that even though a fourth of the factories surveyed have digital-ready infrastructure in place, only 2% are effectively using tech-augmented workforce or automated material flow. The research provides clear and objective measurement of Industry 4.0 capabilities for the CPG sector, which will help companies navigate disruption in the months and years ahead,” says Fabian Wehren, EY EMEIA Smart Factory Leader.