Global Corporate Survey 2020: Operational Excellence Budgets, Priorities & Tech Preferences
22 Dec, 2020
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Executive Summary
To provide a benchmark of high quality information about operational excellence programmes, Verdantix conducted 259 interviews with managers in operations, engineering, maintenance and process safety roles. Respondents were selected from 22 countries across 13 regions, working in 14 distinct industries. Ninety-three per cent of respondents represented firms with revenues greater than $1 billion. Respondents have reacted to COVID-19 and the ensuing recession with increased spending, with 84% reporting a rise in spending over the last 12 months. Moving forward, budgets for operational excellence remain healthy, with 92% of respondents planning increased spending on operational excellence for 2021. Operations executives detail their planned expenditure on software for operational excellence, as well as the key technologies and priorities they perceive in 2021 and 2022.
Annual Global Survey Of 259 Operational Excellence Executives Across Multiple Industries
Diverse Function Heads Across Multiple Regions Lead Operational Excellence Survey
Operational Excellence Budgets Remain Healthy Despite Double Impacts Of COVID-19 And Global Recession
Spending Will Increase On Operational Excellence Initiatives Over The Next Two Years
COVID-19 Drives Digitization Of Operational Excellence Initiatives
Enterprise Software Remains Integral To Operational Excellence Programmes
Safe Operations And Asset Maintenance Lead Commercial Software Investment Plans
Firms Selecting Asset Management Solutions Demand A Broad Range Of Criteria
Operations Decision-Makers Identify Multiple Key Factors When Evaluating Asset Management Software
Subject Matter Expertise Is Crucial For Firms Selecting Service Providers
Digital Innovations For Remote Operations Will Be Significant For Future Operational Excellence Initiatives
Mobile Apps, Digital Twin Simulation And Connected Worker Solutions Will Be Significant Over The Next Two Years
Diverse Function Heads Across Multiple Regions Lead Operational Excellence Survey
Operational Excellence Budgets Remain Healthy Despite Double Impacts Of COVID-19 And Global Recession
Spending Will Increase On Operational Excellence Initiatives Over The Next Two Years
COVID-19 Drives Digitization Of Operational Excellence Initiatives
Enterprise Software Remains Integral To Operational Excellence Programmes
Safe Operations And Asset Maintenance Lead Commercial Software Investment Plans
Firms Selecting Asset Management Solutions Demand A Broad Range Of Criteria
Operations Decision-Makers Identify Multiple Key Factors When Evaluating Asset Management Software
Subject Matter Expertise Is Crucial For Firms Selecting Service Providers
Digital Innovations For Remote Operations Will Be Significant For Future Operational Excellence Initiatives
Mobile Apps, Digital Twin Simulation And Connected Worker Solutions Will Be Significant Over The Next Two Years
Figure 1. Revenue Of Survey Respondents’ Firms
Figure 2. Survey Respondents’ Business Function
Figure 3. Industry Categorization Of Respondents’ Firms
Figure 4. Geographic Location Of Respondents
Figure 5. Change In Operational Excellence Spend Over The Past 12 Months
Figure 6. Factors Driving Investment In Operational Excellence
Figure 7. Expected Changes In Operational Excellence Spend In 2021
Figure 8. Operational Excellence Business Priorities In 2021 And 2022
Figure 9. Change In Spend On Operational Excellence Activities In 2021
Figure 10. Expected Changes In Spend On Consultants In 2021
Figure 11. Impact Of COVID-19 And Recession On Digitization Of Operational Excellence Initiatives
Figure 12. Effect Of COVID-19 And Recession On Investment In New Technology
Figure 13. Adoption Of Software
Figure 14. Software Investment Plans For Operational Excellence Processes In 2021
Figure 15. Evaluation Criteria For Asset Management Software Applications
Figure 16. Perception Of Firms Delivering Asset Management Digitization Projects
Figure 17. Evaluation Criteria For Asset Management Digitization Service Providers
Figure 18. Significance Of Digital Innovations For Operational Excellence In 2021 and 2022
Figure 19. Factors Holding Back Investment In Digital Twin Projects
Figure 20. Drivers Of Spend On Connected Worker Solutions
Figure 2. Survey Respondents’ Business Function
Figure 3. Industry Categorization Of Respondents’ Firms
Figure 4. Geographic Location Of Respondents
Figure 5. Change In Operational Excellence Spend Over The Past 12 Months
Figure 6. Factors Driving Investment In Operational Excellence
Figure 7. Expected Changes In Operational Excellence Spend In 2021
Figure 8. Operational Excellence Business Priorities In 2021 And 2022
Figure 9. Change In Spend On Operational Excellence Activities In 2021
Figure 10. Expected Changes In Spend On Consultants In 2021
Figure 11. Impact Of COVID-19 And Recession On Digitization Of Operational Excellence Initiatives
Figure 12. Effect Of COVID-19 And Recession On Investment In New Technology
Figure 13. Adoption Of Software
Figure 14. Software Investment Plans For Operational Excellence Processes In 2021
Figure 15. Evaluation Criteria For Asset Management Software Applications
Figure 16. Perception Of Firms Delivering Asset Management Digitization Projects
Figure 17. Evaluation Criteria For Asset Management Digitization Service Providers
Figure 18. Significance Of Digital Innovations For Operational Excellence In 2021 and 2022
Figure 19. Factors Holding Back Investment In Digital Twin Projects
Figure 20. Drivers Of Spend On Connected Worker Solutions
Quentic, Accenture, Alcumus, Flyability, Westinghouse Electric Company , Banyard Solutions, Adapt IT, Guardhat, Jacobs, Oracle, Bentley Systems, Alcoa, Senseye, MODS Management, SAP, GOARC, Prometheus Group, Wipro, Albemarle, Arcadis, Total, Royal Dutch Shell, McDermott, Lloyd’s Register, AspenTech, ECi Software Solutions, AVEVA, Boston Dynamics, Foster + Partners, GE Digital, ARMS Reliability, Bureau Veritas, AECOM, Corvex Safety, Tata Power, Maersk, ProcessMAP
About the Authors
Hugo Fuller
Senior Analyst
Hugo is a Senior Analyst in the Verdantix Industrial Transformation practice. His current research agenda explores the technologies within the industrial asset management soft…
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Sebastian Winter
Industry Analyst
Sebastian is an Industry Analyst in the Verdantix Operational Excellence practice. His research agenda covers digital twins for industrial facilities, asset management softwar…
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Malavika Tohani
Research Director, Industrial Transformation
Malavika leads the Verdantix Industrial Transformation practice. Her current research agenda focuses on digital technologies for Operational Excellence including digital twins…
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