KPMG released some striking findings from its annual CEO Survey today.
CEOs in Manufacturing have weighed in on the outlook for the industry and other top of mind issues in the coming year, including climate change, growth and the new normal. The overwhelming majority of these executives are from companies with $1 billion in revenue or more.
The annual study asks CEOs about some of the top issues their companies are facing one year after the onset of COVID. The vast majority of the 60 Manufacturing CEOs were from major organizations with revenue of $1 billion or more.
According to the findings:
- 86% of manufacturing CEOs want to lock in the sustainability and climate change gains that they have made as a result of the pandemic.
- 90% of manufacturing CEOs are confident or very confident in their company’s growth prospects in the next three years, and 78% are confident or very confident in the sector’s growth prospects in the next three years.
- Supply chain risk was identified as the top risk to their organization’s growth over the next three years, according 30% of manufacturing CEOs.
- A full 70% said that in a matter of months the pandemic accelerated the creation of new digital business models and revenue streams, while another 17% said progress accelerated sharply, putting them years in advance of where they expected to be.
- 63% said that the pandemic accelerated the creation of a seamless digital customer experience in a matter of months, while 28% said that progress sharply accelerated, putting them years in advance of where they expected to be.
“The future is bright, and manufacturers are seeing that creating a digital end to end approach from the customer back into the enterprise that is seamless, agile, and comparable to other buying experiences will be increasingly important to unlocking the future opportunities for the demand forecast,” said Brian Heckler, National Sector Leader for Industrial Manufacturing at KPMG.
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Patrick Burnson, Executive Editor
Patrick is a widely-published writer and editor specializing in international trade, global logistics, and supply chain management. He is based in San Francisco, where he provides a Pacific Rim perspective on industry trends and forecasts. He may be reached at his downtown office: [email protected].
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