About the Study:

Lifecycle Insights conducted the 2022 Flexible Manufacturing Study. Lifecycle Insights surveyed over 275 of respondents to understand broadly the factors driving companies to improve manufacturing processes (competitive time, cost, and product pressures; customer schedule/seasonal, cost, or product requirements; regulations or incentives). In addition, the study sought insight into the specific strategies and processes other companies are using to improve product quality, improve the effectiveness of production equipment, and increase manufacturing output through automation.

Study Demographics:

The findings were based on 300 respondents worldwide in the following industries:

  • Industrial Machinery (35%)
  • Consumer Products (25%)
  • Heavy Equipment (19%)
  • Other industries (21%)

Respondent’s company revenues varied widely, but most were under $100 M (30%), $100-500 M (46%), $500-1000 M (21%) and > $1B (3%).

Methodology:

Lifecycle Insights employed its proven benchmarking methodology in this quantitative research study. This methodology includes:

  • the development of a neutral-language survey instrument that captures an accurate, impartial state of the industry for the given program’s scope using Lifecycle Insights’ best practices and library of questions;
  • the careful recruitment and screening of qualified respondents that represent the target stakeholders for this program’s parameters using Lifecycle Insights’ third-party partnerships;
  • the review, cleansing, and validation of respondent’s answers using Lifecycle Insights’ internal flagging system;
  • the explorative development of indices and cohort definitions to iteratively isolate correlated sets of performance and practices using Lifecycle Insights’ benchmark approach; and
  • the calculation, analysis, and group review of the study’s findings to vet and distill takeaways using Lifecycle Insights’ processes and procedures.