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      "text": "Automation: Relatedly, companies expect to use automation to supplant their workforce. Over two-thirds of companies have made investments in facility automation, robotics and manual process replacement over the past 3 years; over 85% expect to do so in the next 3 years — with 96% anticipating increased investment in robotics",
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      "text": "Labor shortages: Almost 50% of manufacturers are experiencing labor shortages that they expect to continue for the remainder of 2022, and over 80% of companies expect compensation increases, retention incentives and location openings will be needed in coming years to attract labor, as well as training and upskilling programs to create the talent they need",
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      "text": "Material cost & inflation: Companies continue to battle cost inflation. About 75% of companies have already added suppliers, implemented new pricing structures and improved costing fidelity, resulting in ~78% having passed on most or all cost increases to customers. Executives expect to accelerate investments in inventory management to dampen price increases and improve their price forecasting abilities, as >50% of respondents expect prices to continue an elevated trajectory through 2025",
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      "text": "Supply chain disruption: Companies report no cure-all measures. Companies are accelerating investments across a range of activities such as inventory buffers, monitoring systems, parts commonality and supplier diversification, but are encountering a range of economic and time constraints and partnership challenges as they do so",
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      "text": "Figure 8: Current efforts and investment areas to address key goals (1 of 2)",
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