[December 19, 2018] |
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New Data Confirms Value of ERP in Helping American Manufacturers Manage the Impact of Tariffs
ECi Software Solutions, a leader
in cloud-based business management solutions, today announced a
new research report on the business and technology trends impacting
the manufacturing industry. The report details the findings from an
independent survey commissioned by ECi, which examined the impact of
powerful forces like digital transformation, Industry 4.0, the current
regulatory climate and automation on U.S. manufacturers. The findings
indicate the role technology is playing in the American manufacturing
resurgence, with 89 percent of respondents confirming they had increased
investments in technology in the last 18 months.
Other Key Findings:
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Optimism in the benefits of tariffs started to decline: From
March to July, there was an 11 percent decrease in the belief that the
steel and aluminum tariffs would benefit manufacturers, and a 12
percent increase in the belief that the tariffs would not benefit them
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Manufacturers turned to ERP to manage regulatory ripple effect: 67
percent of respondents confirmed that ERP was either very effective or
effective in managing the impact of tariffs, particularly by providing
supply chain visibility, resource planning and job costing
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Wearables have the potential to drive the most business value: In
a similar survey conducted by Ci's Macola Software in 2017,
manufacturers indicated that big data analytics had the highest
potential to drive business value, while this year's respondents put
wearables at the top
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AI is more than just a buzzword: More than half (51 percent) of
this year's respondents indicated that they're currently using some
form of artificial intelligence (AI) in their operations; of those who
don't use AI, 56 percent noted they plan to in the future
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Automation is a job augmenter, rather than a job cutter: 73
percent of respondents indicated that their core business processes
are automated by software and that they are reaping the benefits-most
notably by reducing errors and improving accuracy, employee job
satisfaction and productivity
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Cybersecurity concerns prevent technology adoption: Half of
manufacturers indicated that they are concerned with the cybersecurity
risks associated with adopting a new technology; cybercrime was also
listed as a top external force contributing to changes in
manufacturers' business models or operations in the last 12-18 months
"Our research confirms what an exciting and tumultuous year this has
been for U.S. manufacturers, and we can only anticipate that these
trends will continue to impact their business operations in the year to
come," said Jeff Ralyea, ECi Manufacturing Division President. "The data
also confirms the value of ERP in helping manufacturers of all sizes
mitigate the challenges and chances the industry presents, and we're
committed to continuing to deliver the best-in-class, industry-specific
software and services that help our own customers maintain a competitive
advantage in the fast-paced and growing manufacturing market."
The full industry report is now available for download on the ECi
website here.
Survey Methodology As commissioned by ECi Software
Solutions, Berg Research surveyed 209 respondents from medium and large
U.S. manufacturers who make or influence IT decisions within their
organizations in March 2018. Berg Research also surveyed 203 respondents
from medium and large U.S. manufacturers who make or influence IT
decisions within their organizations in July 2018.
About ECi ECi Software Solutions provides industry-specific
business software solutions and services, focusing on cloud-based
technologies. For 30+ years, ECi has served small to medium-sized
manufacturing, wholesale/retail distribution, building and construction,
and field service organizations. Privately held, ECi is headquartered in
Fort Worth, Texas, USA, with offices throughout the U.S., Canada,
Mexico, England, the Netherlands, and Australia. For information, email [email protected],
visit www.ECiSolutions.com
or call (800) 959-3367.
All trademarks are the property of their respective owners.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181219005162/en/
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