The Annual Manufacturing Report 2014 released

Manufacturers enjoying increased investment confidence but workplace training and government support are areas for improvement, report finds

The Annual Manufacturing Report 2014 shows that manufacturers have an increased level of optimism around the UK economy with 94% of respondents reporting that they are ‘very’ or ‘quite optimistic’; the highest figure since the survey began in 2008. 

The Annual Manufacturing Report 2014 surveyed 182 UK manufacturers in Q4 2013 across five key areas: Economy, policy and risk; Finance; Automation; Skills; and ICT. The Report (AMR) was researched by The Manufacturer magazine and produced in association with Barclays, Zurich, Pera Training, eBECS and the Automation Advisory Board.

In the last 12 months, half the manufacturers surveyed reported that their IT expenditure was at a level that was roughly the same as the previous financial year, with only a quarter (28%) reporting an increase in IT expenditure. Looking forward, the situation is more positive. Two thirds of respondents (67%) say that they plan on spending even more, next year. A further quarter of respondents (28%) anticipate spending around the same as last year. Put another way, only 6% of manufacturers, one in 20 in other words, actually anticipate spending less next year.

“In previous years, the voice of the customer has been paramount in driving IT expenditure, with respondents targeting investments on improved service, and increased price competitiveness,” said Stephen Wilson marketing director at eBECS. “And this year is no different with both drawing significant investment with a third of repondents citing them as pressures. But the overarching driver this year, in stark contrast to prior years, has been business growth, with forty-four per cent of respondents citing that as a driver for IT expenditure.”