Global Corporate Survey 2021: Operational Excellence Budgets, Priorities & Tech Preferences
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Executive Summary
This report provides senior managers in operations, engineering, maintenance and process safety roles who are responsible for operational excellence with a benchmark of their peer group’s budgets, business priorities, technology preferences and COVID-19 responses. The data collected through the Verdantix survey also support strategic decision making and business planning by executives at technology vendors and service providers by helping them understand trends in customer requirements. Verdantix selected respondents 256 from 14 distinct industries, spanning 22 countries across 13 regions, with 95% of interviewees representing firms with revenues greater than $1 billion. Budgets for operational initiatives are looking healthy for 2022, with 98% of respondents reporting a planned increase in spending. Respondents provided insights into predicted spending changes and implementation plans for software and technology in 2022 and 2023.Global Survey Of 256 Corporate Operational Excellence Decision-Makers From Diverse Industries
Operational Excellence Programmes Are Coordinated Across Multiple Functions And Regions
Operational Excellence Budgets Are Bolstered As The Global Economy Recovers From COVID-19
Spend On Operational Excellence Initiatives Will Grow In 2022
Sustainability Trends Inform Operational Excellence Strategies In 2022
Spend On Consultants For Asset Management Projects Remains Healthy For 2022
Industrial Firms Are Committed to Achieving Operational Excellence Through Digital Transformation
Firms Invest In Software For Predictive Maintenance And Process Safety Management
Digital Innovations Supporting Remote Operations Will Maintain Their Growth Trajectory In 2022
Rising Awareness Of Technology For Remote Operations Leads To Increased Adoption
Figure 2. Survey Respondents’ Business Function
Figure 3. Industry Breakdown Of Survey Respondents
Figure 4. Geographic Location Of Respondents
Figure 5. Change In Operational Excellence Spend Over The Past 12 Months
Figure 6. Factors Shaping Operational Excellence Strategy
Figure 7. Expected Changes In Operational Excellence Spend In 2022
Figure 8. Operational Excellence Business Priorities In 2022
Figure 9. ESG And Sustainability Trends Shaping Operational Excellence Strategies
Figure 10. Expected Changes In Spend On Consultants In 2022
Figure 11. Operational Excellence Consulting Projects: Expected Use Of Service Providers In 2022
Figure 12. Level Of Digital Maturity For Asset Management
Figure 13. Departmental Influence On Industrial Asset Management Investment
Figure 14. Adoption Of Software
Figure 15. Software Investment Plans For Asset Management In 2022
Figure 16. Drivers Of Investment On Asset Management Software In 2022 And 2023
Figure 17. Software Investment Plans For Operational Risk Management Activities In 2022
Figure 18. Evaluation Criteria Of Industrial Asset Management Software
Figure 19. Awareness Of Digital Innovations For Operational Excellence
Figure 20. Ranking Of Industrial Digital Twin Value Propositions
Figure 21. Ranking Of Use Cases For Connected Worker Solutions
About the Authors
Harry He
Analyst
Harry is an Analyst in the Verdantix Operational Excellence practice. His research agenda focuses on industrial asset and risk management technologies. He holds a joint degree…
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Malavika Tohani
Research Director
Malavika is a Research Director at Verdantix, guiding research that explores how digital technologies and services are reshaping industrial operations to become safer, more ef…
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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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