process manufacturing industry is confronting significant infrastructure
problems that heighten risks to operations and leave executives struggling to
bring their ageing facilities into the twenty-first century, according to a new
report by the Economist Intelligence Unit and sponsored by Oracle. One executive put the challenge in stark terms, saying "It takes years to
build a reputation, but one serious infrastructure failure can destroy it."
The report, "The Impact of Aging Infrastructure in
Process Manufacturing Industries," is based on a recent
survey of 366 executives. The research found that aging systems are negatively
impacting—sometimes substantially—companies in oil and gas, utilities,
chemicals, and natural resource industries. A commanding majority—87 percent of
the respondents—said aging infrastructure has impacted operations in the past 3
to 5 years, with 1 in 10 saying they suffered severe consequences that they are
still trying to fix.
But as a group, the executives see a way to improve agility and seize new
opportunities while protecting customers, employees, operations, and corporate
images from costly infrastructure failures. The best solutions involve a blend
of technology, project planning, and due diligence, the report stated. The
executives added that these elements help organizations identify and resolve
problems before crises occur.
Find out how others in the power and energy sector are adapting and developing
new strategies to address the issues of ageing infrastructure. Compare your own
experiences and strategies against those of your peers with Oracle’s interactive
test, take the test and receive a complimentary four-page
personalized report It’s
a simple 5 minute test that gives you an instant graphical snapshot and
recommendations on how to turn your organization’s ageing infrastructure issues
into an opportunity.
the full article in the EPPM Information In-depth newsletter here.