Almost 60 per cent of leading manufacturing and distribution companies continued to invest during the downturn and a similar proportion expect to continue to do so over the coming months, according to a study commissioned by software group Lawson.
The study, covering more than 160 European and North American manufacturing and distribution companies, highlights the actions that companies took to remain competitive during the global crisis and what decisions they are now taking to ensure a successful future.
Despite over half (53 per cent) of respondents describing themselves as “cautious”, the majority of companies (59 per cent) continued to invest in process innovation during the downturn, with the same amount saying that they would continue to do so over the coming months. 44 per cent described themselves as “optimistic”.
The study, Surviving the downturn and staying competitive in the new economy, also found that:
* 85 per cent of executives were forced to make efficiencies in some form during the past two years
* Reducing lead times was one of the main challenges for companies surveyed
* Investments in innovative technologies and process innovation provide competitive advantage.
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