According to a new survey released by Winshuttle, manufacturers are currently feeling the strain of increasing production due to high demand.
The survey – which assessed more than 100 global manufacturers using SAP ERP systems – notes that 75% of manufacturers claim to be under increased pressure to reduce production time of new products.
28% of the manufacturers assessed want to cut New Product Introduction (NPI) cycles by more than a quarter.
KPMG, the professional services company, recently stated that to grow and remain competitive, manufacturers must release new products at a faster pace and on a larger scale.
90% of manufacturers are worried about consumer loyalty, KPMG suggests, and 78% are concerned about the relevancy of their products in the coming years.