Accenture surveyed 287 manufacturing executives last year across a range of industry sectors. In a report, it finds that cutting costs and remaining competitive continue to lead operational business concerns. Many companies have taken steps such as offshoring to low-cost locations, implementing automated systems, and establishing lean operations.
The report finds that while these initiatives have helped, they are insufficient. Companies need new strategies to manage operating costs while preserving customer expectations.
Where offshoring is concerned, companies will continue to seek overseas locations, but "in the context of chasing the demand location," the report says. Manufacturers are now trending to move supply closer to the sites of demand. The full report presents additional findings of the survey.