PEX Report 2024 is here

Happy Friday, September 29, 2023

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We are thrilled to announce the release of our global state-of-the operational excellence industry report, PEX Report 2024. Below are some highlights from this year’s survey of over 250 process excellence leaders.

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Similar to last year, 37 percent of respondents described the scope of their transformation as “enterprise level” while 24 percent selected “deployment at department level.

When asked how their organizations view operational excellence and business transformation, 50 percent chose “mission-critical strategy to help the organization to drive growth, manage turnaround and deliver strategic objectives,” making it the top choice for the second year in a row.

There are signs, however, that there may be a small shift in how organizations view operational excellence. Fearing a recession, many organizations spent the past year bolstering their global operations by eliminating waste, increasing efficiency and reducing overhead costs. Reflecting this trend, 42 percent selected “a way to improve productivity and efficiency.” In addition, the percentage of respondents who chose “reduce operational cost or reducing headcount” rose from 13 percent in 2022 to 19 percent in 2023.?

Though organizations are clearly very curious about AI and 35 percent say they plan to deploy it in the next year, the majority of organizations (60 percent) have yet to take the plunge. When asked for their opinion on how AI would change the world of operational excellence, one respondent wrote:

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“AI is a powerful tool that can enhance my role in many ways. For example, it can help me automate repetitive tasks, analyze large amounts of data and generate insights and recommendations. AI can also augment my creativity and problem-solving skills by providing new perspectives and solutions. However, AI also poses some challenges and risks that I need to be aware of and prepared for. For instance, I need to keep learning new skills and adapting to changing demands, ensure the ethical and responsible use of AI, and collaborate effectively with other humans and machines. Therefore, I see AI as an opportunity to grow and improve my role, but also as a responsibility to use it wisely and ethically.”

Thanks for reading, see you next week and you can download the report here.

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Elizabeth Mixson

Editor

PEX Network