As Indiana’s largest industry sector enjoys continued growth in revenues and profits, its employers are investing heavily in automation and manufacturing efficiency, welcoming an industry movement that, nationally, has been dubbed “Industry 4.0.”
The “2018 Indiana Manufacturing Survey: Industry 4.0 Has Arrived” report shows that most Indiana manufacturers consider investments in facilities, machinery and related information technology to be their top concern. Meanwhile, the percentage of firms identifying workforce development as their top concern declined to its lowest level in a decade.
“If last year’s shift in favor of automation and facilities was a growing wave, this year’s results seem more like a tsunami,” said survey co-author Steve Jones, a professor of finance at the Indiana University Kelley School of Business on the IUPUI campus. “Hoosier manufacturers recognize that they must join the Industry 4.0 revolution if they want to remain competitive.”
A news release about the survey is available online at the IU Newsroom.
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