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The fourth industrial revolution is creating highly complex and interdependent supply chains in engineering and manufacturing. To remain secure, efficient and competitive, companies need new, proactive approaches to supply chain resiliency and risk management. To succeed in ever-changing global markets, companies should adopt new digital technologies capable of supporting this transformation process.

Since the first industrial revolution, the engineering and manufacturing (E&M) industry has played a huge role in driving  innovation, economic growth, and prosperity around the globe. As technology becomes embedded within societies – the socalled fourth industrial revolution – E&M remains as important as ever, accounting for approximately 17% of global GDP and around 15% of employment.

Manufacturing companies export more than $11 trillion of goods every year which represents more than 70% of all global trade. E&M companies are particularly focused on productivity, as this is a key element of profitability. The per-hour economic output of a manufacturer, for example, is about twice the output of a typical retail or food service organization, and four times the output of agriculture.

The E&M industry has also demonstrated significant productivity improvement over time, successfully developing and adopting new technologies, new lean working methods, and new business models. It is no surprise that governments around the world are eager to promote and develop domestic E&M activity.

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