May 16, 2020

Dyson reaches record profits in 2017, hitting £801mn

Dyson
Asia
UK
Dyson
Sophie Chapman
2 min
Dyson has successful 2017, with turnover increasing 40%
The British home appliance manufacturer, Dyson, has released its 2017 Financial results, revealing that it’s profits hit a record high.

The company...

The British home appliance manufacturer, Dyson, has released its 2017 Financial results, revealing that it’s profits hit a record high.

The company’s annual turnover grew by 40%, reaching £3.5bn (US$4.82bn), whilst its profits grew 27%, hitting £801mn ($1.1bn).

It is anticipated that the successful year was due to the company’s expansion across Asia, accompanied by its new ventures in technology.

The firm announced an investment of £330mn ($454.23mn) into its operations in Singapore, to enhance R&D and manufacturing capabilities, as well as opening a Technology Lab in China.

SEE ALSO:

In Asia, and across the world, Dyson is currently aiming to increase awareness of air pollution caused by combustion engines.

73% of Dyson’s growth came from Asia, whilst Europe grew at 21% and the America’s grew at 19%.

In 2017, the firm produced its 100 millionth machine with a manufacturing volume boom hitting 80,000 machines a day.

Dyson’s direct retail double on a year-on-year basis, following the launch of 9 new Dyson Demo Stores.

In the past five years, the company has increased its UK workforce by 2.5 times as much, now employing 4,600.

The firm is looking to employ an additional 300 engineers to work on its electric vehicle project.

Dyson is also to invest £31mn ($42.67mn) to aid a shortage of engineers in the UK.

Share article

May 12, 2021

Gartner: Leaders Lack Skilled Smart Manufacturing Workers

SmartManufacturing
DigitalTransformation
DigitalFactory
ConnectedFactory
2 min
57% of manufacturing leaders feel that their organisations lack the skilled workers needed to support smart manufacturing digitalisation

With organisations rapidly adopting industry 4.0 capabilities to increase productivity, efficiency, transparency, and quality as well as reduce cost, manufacturers “are under pressure to bring their workforce into the 21st century,” says Gartner.

While more connected factory workers are leveraging digital tools and data management techniques to improve decision accuracy, increase knowledge and lessen variability, 57% of manufacturing leaders feel that their organisations lack the skilled workers needed to support their smart manufacturing digitalisation plans.

“Our survey revealed that manufacturers are currently going through a difficult phase in their digitisation journey toward smart manufacturing,” said Simon Jacobson, Vice President analyst, Gartner Supply Chain practice.

“They accept that changing from a break-fix mentality and culture to a data-driven workforce is a must. However, intuition, efficiency and engagement cannot be sacrificed. New workers might be tech-savvy but lack access to best practices and know-how — and tenured workers might have the knowledge, but not the digital skills. A truly connected factory worker in a smart manufacturing environment needs both.”

Change Management

Surveying 439 respondents from North America, Western Europe and APAC, Gartner found that “organisational complexity, integration and process reengineering are the most prevalent challenges for executing smart manufacturing initiatives.” Combined they represent “the largest change management obstacle [for manufacturers],” adds Gartner.

“It’s interesting to see that leadership commitment is frequently cited as not being a challenge. Across all respondents, 83% agree that their leadership understands and accepts the need to invest in smart manufacturing. However, it does not reflect whether or not the majority of leaders understand the magnitude of change in front of them – regarding technology, as well as talent,” added Jacobson.

Technology and People

While the value and opportunities smart manufacturing can provide an organisation is being recognised, introducing technology alone isn’t enough. Gartner emphasises the importance of evolving factory workers alongside the technology, ensuring that they are on board in order for the change to be successful.

“The most immediate action is for organisations to realize that this is more than digitisation. It requires synchronising activities for capability building, capability enablement and empowering people. Taking a ‘how to improve a day in the life’ approach will increase engagement, continuous learning and ultimately foster a pull-based approach that will attract tenured workers. They are the best points of contact to identify the best starting points for automation and the required data and digital tools for better decision-making,” said Jacobson.

Long term, “it is important to establish a data-driven culture in manufacturing operations that is rooted in governance and training - without stifling employee creativity and ingenuity,” concluded Gartner.

Discover Gartner's Five Best Practices for Post COVID-19 Innovation' in manufacturing.

Image source

Share article