The KPMG’s Global Manufacturing Prospects 2022 report has reflected on the concerns related to the pandemic and the Ukraine crisis from the manufacturing industry. “Twin transformation” is considered to be crucial for the manufacturing industry to cope with the global instabilities, emphasizing digitalization and environmental, social, and governance (ESG).
The constant supply chain disruption due to the Ukraine crisis has caused many businesses to grasp at straws because of increased costs. However, the report shines a light on raising the tenacity of businesses as being an essential focus for the manufacturing industry to overcome such challenges. Striving for talent diversity together with a focus on ESG and the advancement in technology may also transform these current difficulties into future opportunities.