European manufacturing companies will lose their competitive advantage without the correct use of data. Historically, they were known for their unparalleled quality – labels bearing the words ‘made in’, whether that be Germany, Italy or Britain, spoke for themselves, while ‘Swiss made’ watches are coveted to this day.
In contrast, goods manufactured in China and some emerging markets have been perceived as lower quality. However, they are increasingly reliable and available at an extremely competitive price. While COVID-19 restrictions have slowed Chinese manufacturers’ production and operations, the fact remains that low labour costs and technologically advanced factories in key hubs like Shenzhen can…
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