New Manufacturing Survey Identifies “Capabilities Gap” for Companies Striving for Productivity and Innovation
Product Development & Hardware Design2020” Report Finds That Companies Are Falling Short in Key Areas of Productivity and Innovation
- Manufacturers Say their Top Priority for Improvement is Minimizing Time Spent on Non-Design Related Activities and Overhead
- More than 80% of Product Development Professionals Have Trouble Finding or Accessing the Correct Version of Design Data
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Commissioned by PTC's
The independent industry survey, commissioned on behalf of PTC’s
“This report offers a fascinating look at companies’ self-reported strengths and weaknesses in the product development process,” says
Notable product development capability gaps reported in the survey include:
- Minimizing time spent on non-design related activities and overhead (82% of respondents rated as critical for success – 41% rated their current capabilities as good or excellent)
- Ability to monitor activity/progress at any stage in the design process without meetings, emails or calls (77% rated as critical for success – 43% rated their current capabilities as good or excellent)
- Satisfaction with simulation tools (75% rated as critical for success – 43% rated their current capabilities as good or excellent)
- Satisfaction with PDM or PLM tools (69% rated as critical for success – 40% rated their current capabilities as good or excellent)
The report also explores companies’ top priorities for improvement in the product development process, as well as the obstacles blocking these goals. The most urgent priorities include resolving version control issues, increasing earlier communication and collaboration across the company, and making computer-aided design (CAD) data less siloed and more available throughout the design process.
Amid extended work-from-home policies due to the COVID-19 pandemic, the report concludes that cloud-based productivity tools give companies more confidence in their ability to support remote work. Of companies that score themselves highest in productivity, 87% state they are now able to effectively support work from home. With a cloud-based CAD and data management platform, companies can drive earlier collaboration and boost productivity and innovation.
To read a full copy of the report, please visit https://Onshape.com.
About PTC (NASDAQ: PTC)
PTC enables global manufacturers to realize double-digit impact with software solutions that enable them to accelerate product and service innovation, improve operational efficiency, and increase workforce productivity. In combination with an extensive partner network, PTC provides customers flexibility in how its technology can be deployed to drive digital transformation – on premises, in the cloud, or via its pure SaaS platform. At PTC, we don’t just imagine a better world, we enable it.