Wider technology gap among manufacturers

“But the pandemic has caused some companies to freeze their Industry 4.0 initiatives to preserve cash, even as certain leaders have accelerated their adoption, particularly to support business continuity such as automated planning, digital performance management and digital remote work and automation to reduce human-to-human interaction, ” says McKinsey & Company expert associate partner Kenneth Koh.(pic)

THE Covid-19 pandemic may have accelerated the adoption of technology for many businesses, but it has also widened the technology gap among manufacturers.

While the need to invest in digitisation and automation has become more apparent to producers, companies are simultaneously grappling with the need to preserve cash and recover. This could mean delaying crucial investments in technology and possibly causing them to fall further behind the curve.