Business leaders are increasingly worried about the European manufacturing industry’s place in the global economy, particularly in comparison to other developed countries and the fast-growing BRIC economies.
European manufacturing has experienced an increasing cost pressure, offshoring, commoditisation and a race to the bottom on labour costs, and cannot compete if continuing business as usual. Instead of caving in, the industry needs to reinvent itself to work smarter, and create competitive advantage.
The role of social technology
Social technology provides solutions as a way forward in three areas: by connecting manufacturers to global markets, by helping them to unearth new product opportunities, and by improving productivity and innovation within individual firms.
In the following whitepaper, co-authors Lee Bryant, Robin Hamman and Kaija Pöysti examine how social technology is instrumental to driving a reinvigoration in European manufacturing for an otherwise stagnating industry.