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Process simulation is key to innovation as the manufacturing industry seeks to remain competitive and continue to exploit growth opportunities according to research from Lanner.
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Redditch, UK, 10th November 2011 - Process simulation is key to innovation as the manufacturing industry seeks to remain competitive and continue to exploit growth opportunities. That's according to manufacturers across the defence, automotive, aerospace, oil & gas and food & beverage sectors, surveyed as part of a report commissioned by Lanner. The research reveals other key areas where simulation helps manufacturers' profitability include stripping out costs, facilitating agility and boosting productivity.
While cost cutting and process optimisation remain the dominant forces behind investment in simulation, reducing risk and complexity are emerging as key drivers for its adoption in the current uncertain economic climate. In fact 83% say simulation is used to mitigate risk while one in five claim that dealing with complexity is a primary objective for its application.
When asked about whether its potential is being maximised, the majority of manufacturers feel that process simulation has the potential to benefit other departments within their organisation, with supply chain and warehousing being cited as key areas. However this potential is being stemmed by a limited understanding of its benefits. Only 28% claim senior management understand the benefits of simulation with 72% describing their knowledge as 'basic' or 'limited'.
"Process simulation is known for facilitating cost cutting, with major manufacturers such as Nissan attributing €10 million savings to the software. However according to this research, its role in helping manufacturers to remain ahead of global competition and achieve growth extends far beyond cost cutting alone," comments David Jones, CEO, Lanner. "Driving innovation, managing complexity and minimising exposure to risk are all crucial for manufacturers to ensure they are in the strongest position to thrive in what continues to be a volatile economic climate. Simulation represents a means of facilitating more accurate, timely decision-making, which in turn helps to offset poor decisions which increase exposure to risk, and equips manufacturers with both the information and confidence to innovate."
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Contact Information
Nina Wainwright
NWPR
Public Relations
London
UK
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