For many manufacturers, recent times have been marked by uncertainty. Indeed, many companies have had to rethink their operational strategies to maintain their business. Some companies might even be tempted to put their digital transformation projects on hold, but for most this would be a trap, according to McKinsey.
For many companies, 4.0 technologies were the answer to the COVID crisis. Overall, 94% of the 400 companies surveyed worldwide said that Industry 4.0 had helped them maintain operations during the crisis, while 56% said that these technologies had been essential to their responses to the crisis.
We note that progress has become increasingly difficult, although 4.0 projects are still considered a priority by companies. Companies that have put their digital transformation projects on hold since the start of the pandemic cite a range of challenges, including financial constraints and teams diverted to other pressing issues.
Choosing solutions that have a strong strategic impact would be the best way to maintain the efforts invested in digital transformation. However, McKinsey concludes that companies should not put the brakes on this transition.