Skip to content
Search AI Powered

Latest Stories

Report: Manufacturers, distributors optimistic one-year into pandemic

But challenges remain, including meeting hiring goals, fighting cybersecurity threats, and improving data quality.

industrial-plant-1149888_640.jpg

Nearly three-quarters of manufacturers and distributors are optimistic about their business prospects in the next six months, according to a report from advisory firm Sikich, released April 28.

The firm polled more than 120 executives from manufacturing and distribution companies across a range of industries, including industrial equipment, wholesale distribution, and transportation, and found that 72% ranked their level of optimism at seven or higher on a scale of one to 10. The survey also found that more than half of manufacturers and distributors want to expand their workforce in the next six months.


“As the world slowly opens back up, manufacturers have a lot to look forward to,” Jerry Murphy, partner-in-charge of Sikich’s manufacturing and distribution team, said in a statement announcing the report’s findings. “This past year has showcased the resilience of the manufacturing industry. From quickly implementing safety protocols in their facilities to maintaining production in a fast-changing environment, manufacturers impressively adapted throughout the past year. Having navigated a tumultuous 2020, the industry appears primed for growth.”

The report identified three main challenges facing manufacturing and distribution firms this year:

  • Hiring problems. Although 56% of survey respondents said they plan to grow their workforces, just 5% say they are confident in their ability to obtain the talent required.
  • Cybersecurity threats. Cybersecurity breaches still run rampant. More than half of manufacturers and distributors experienced at least two information security events in the past 12 months, according to the report. The most common cybersecurity incidents include email phishing scams (81%), unemployment fraud (42%), and ransomware (9%).
  • Data quality issues. More than a quarter of survey respondents (28%) are only slightly or somewhat confident in using their existing data to make business decisions, emphasizing a need for improved data quality.

The full report is available on the Sikich website.

Recent

More Stories

drawing of person using AI

Amazon invests another $4 billion in AI-maker Anthropic

Amazon has deepened its collaboration with the artificial intelligence (AI) developer Anthropic, investing another $4 billion in the San Francisco-based firm and agreeing to establish Amazon Web Services (AWS) as its primary training partner and to collaborate on developing its specialized machine learning (ML) chip called AWS Trainium.

The new funding brings Amazon's total investment in Anthropic to $8 billion, while maintaining the e-commerce giant’s position as a minority investor, according to Anthropic. The partnership was launched in 2023, when Amazon invested its first $4 billion round in the firm.

Keep ReadingShow less

Featured

chart of robot adoption in factories

Global robot density in factories has doubled in 7 years

Global robot density in factories has doubled in seven years, according to the “World Robotics 2024 report,” presented by the International Federation of Robotics (IFR).

Specifically, the new global average robot density has reached a record 162 units per 10,000 employees in 2023, which is more than double the mark of 74 units measured seven years ago.

Keep ReadingShow less
person using AI at a laptop

Gartner: GenAI set to impact procurement processes

Progress in generative AI (GenAI) is poised to impact business procurement processes through advancements in three areas—agentic reasoning, multimodality, and AI agents—according to Gartner Inc.

Those functions will redefine how procurement operates and significantly impact the agendas of chief procurement officers (CPOs). And 72% of procurement leaders are already prioritizing the integration of GenAI into their strategies, thus highlighting the recognition of its potential to drive significant improvements in efficiency and effectiveness, Gartner found in a survey conducted in July, 2024, with 258 global respondents.

Keep ReadingShow less
A photo of brown paper packages tied up with shiny red ribbons.

SMEs hopeful ahead of holiday peak

Businesses are cautiously optimistic as peak holiday shipping season draws near, with many anticipating year-over-year sales increases as they continue to battle challenging supply chain conditions.

That’s according to the DHL 2024 Peak Season Shipping Survey, released today by express shipping service provider DHL Express U.S. The company surveyed small and medium-sized enterprises (SMEs) to gauge their holiday business outlook compared to last year and found that a mix of optimism and “strategic caution” prevail ahead of this year’s peak.

Keep ReadingShow less
screen shot of AI chat box

Accenture and Microsoft launch business AI unit

In a move to meet rising demand for AI transformation, Accenture and Microsoft are launching a copilot business transformation practice to help organizations reinvent their business functions with both generative and agentic AI and with Copilot technologies.


The practice consists of 5,000 professionals from Accenture and from Avanade—the consulting firm’s joint venture with Microsoft. They will be supported by Microsoft product specialists who will work closely with the Accenture Center for Advanced AI. Together, that group will collaborate on AI and Copilot agent templates, extensions, plugins, and connectors to help organizations leverage their data and gen AI to reduce costs, improve efficiencies and drive growth, they said on Thursday.

Keep ReadingShow less