While waiting for the economic situation to improve, the study noted that manufacturers are fostering innovation which was otherwise a low priority during "normal business conditions". Manufacturers see the downturn as an opportunity to restructure their businesses "through product innovation and closer relationships with key customers", the IDC statement read.

Another shift in the way manufacturers operate in difficult times is their recognition of the role of IT. The study noted that 40 per cent of business managers consider IT as significant in bringing about operational excellence. The report noted that this as a change in attitude among manufacturers which did not think much of IT during normal times.

One of the critical IT applications that manufacturers need in these critical times is manufacturing intelligence, or the efficient use of data. Fifty per cent of survey respondents said this is the most important IT application they need to achieve operational excellence. The study noted that most manufacturers already have lots of data available within the organisation. Yet not many know how to use these to their advantage.

The IDC Manufacturing Insights report, titled 'Business Strategy: Achieving Operational Excellence Today to Take Advantage of the Expected Upturn', provides a five-step guide to achieving operational excellence.