Why are UK SME manufacturers losing their morale?

posted by 5 years ago in News
Why are UK SME manufacturers losing their morale?

SME manufacturers within the UK are losing their morale as they are finding it hard to keep up with the fast demand of new products from their customers according to this year’s SME Barometer Research carried out by Exact.

According to the research it hasn’t come as a surprise that they are not coping with the demands from customers, as in the past year, we have seen that industry grow the most and at one of the fastest paces ever which has left them melting under the ever-growing pressure.

2015’s Barometer exposed that the desire for new products and the work in designing them was at a high demand but not on top of their to-do list in terms of priorities.

Although last year it wasn’t a priority, the latest survey asked 2,500 people within Europe and the USA and found that this year 41% are creating the new products requested compared to just 27% last year. The new products have come with a description of being the third most demanding challenge to hit that sector.

In a brighter light, customers from Europe are more willing to forgive the past year of slow labour and issues with deliveries. In 2015, 27% of those who responded said that their customers were tempted to cut off relationships after a delay in delivery – this has now dropped to 24%.

The increase in faith has been noticed within the sector as during 2015, 64% believed customer satisfaction was their main challenge and now 77% believe the same.

Gavin Fell, General manager of Exact Cloud Solutions, UK said;

“Last year’s study painted quite a bleak picture for UK manufacturers. The determination of businesses innovates combined with the loyalty of UK customers has helped the sector to bounce back.

“Technology adoption can lessen the burden of many repetitive, time-consuming but necessary tasks, leaving space for manufacturers to think outside of the box. It’s great to see that manufacturers have experienced an influx of talent in the last year, which we expect will support this innovative mindset.”