Welcome!

News Feed Item

UL Releases Second Annual Global Study: "The Product Mindset" 2012

BANGALORE, November 29, 2012 /PRNewswire/ --

UL Releases Second Annual Global Study: "The Product Mindset" 2012

Findings Reveal a Sharp Decline in Overall Optimism, Ever More Transparent Supply Chains, and a Focus on Quality

UL (Underwriters Laboratories), a world leader in advancing safety, announced today the 2012 findings of its annual global study, The Product Mindset, which examines manufacturer and consumer perceptions about how products are made, sold, bought and consumed. This year's findings, culled from interviews with manufacturers and consumers in the U.S., China, Germany and India, show a steep decline in optimism and increased expectations around quality, safety and the environment. These expectations are driving more complex supply chain dynamics, where traceability and sourcing are the tools manufacturers are leveraging to help deliver reliable, cost effective products that consumers are demanding.

"The volatility in today's world is causing companies and people to look at the products they make and consume with more scrutiny than ever before. We are seeing manufacturers showcase aspects of their supply chain as consumers demand more transparency. Where a product's made, how it's made and what's in it are paramount," said Keith Williams, UL CEO.

The study reveals that product safety remains fundamental, and the environmental orientation of a manufacturer's operations and their product features are growing in importance. Specifically, the study highlights the growing concerns for the origins of manufactured products including where their components and raw materials are sourced.

"It is clear from this year's report that supply chain issues are top-of-mind for global manufacturers, but also in the line of sight of consumers in both developed and emerging economies. The report strongly suggests that these trends will accelerate in the coming years as manufacturers strive to meet consumer demand for increased quality and safety in the things they purchase and use," stated Clyde Kofman, UL Chief Strategy Officer.

Key insights from the study include:

  • Manufacturers are strategically managing increasingly complex supply chains to improve operations and quality, and to reduce costs. As a result, global sourcing is likely to expand to new countries in the coming years.
  • Consumers are becoming increasingly sophisticated about global supply chain issues including  where products and their components are made and whether global manufacturers and their suppliers are providing ethical working environments for employees. Furthermore, manufacturers are noting increased pressure for transparency related to product, component and raw material sourcing.  
  • Manufacturers believe that product safety is increasing in importance to consumers, and delivering it is critical to their business success.
  • Most consumers do not believe manufacturers use the best possible raw materials, ingredients or components in their products.
  • Manufacturers in both developed and emerging nations have a significantly more favourable opinion about the quality of materials sourced from developed markets than those from emerging markets.

Highlighted Findings from UL's 2012 Product Mindset  global report

Manufacturers feel the pressure from an increasingly complex, global supply chain 

  • Sourcing is becoming more global, with 46% of manufacturers increasing their sourcing from other countries over the next five years. Seventy-nine percent of those manufacturers note they will add additional countries to their roster versus replacing existing current sources.
  • Forty-three percent of manufacturers are not highly satisfied with their ability to expand into new markets.
  • Seventy-six percent of manufacturers believe global sourcing is a means to improve product quality; a 19 percent increase from what manufacturers noted last year, reflecting manufacturers' need to enhance competitiveness in a volatile and financially challenged global marketplace.
  • Only 30 percent of consumers strongly believe manufacturers use the best possible ingredients, raw materials or components in their products.
  • Fifty-seven percent of consumers are aware of which country the products they purchase are manufactured in; yet, 62 percent of consumers believe it is more important to know where a product's parts are from than where a product was assembled.
  • Over the next five years, 44 percent of consumers state that knowing where a product is from will become more important.
  • On average 48 percent of consumers feel manufacturers have not taken adequate steps to ensure both they and their suppliers are committed to workplace safety and the ethical and fair treatment of workers.
  • Less than one quarter (24 percent) of Chinese consumers and less than half of Indian consumers (40 percent) say manufacturers have not taken adequate steps to ensure that both they and their suppliers are committed to the ethical/fair treatment of workers and workplace safety compared with 65 percent of U.S. consumers and 64 percent of German consumers.

Quality remains a critical driver

  • Manufacturers rank quality as the number one most important driver of their success today and number one most important future driver.
  • Manufacturers think consumers care most about quality, with 38 percent stating it is the most important issue for consumers.
  • Ninety-one percent of manufacturers believe performance testing is becoming more important.
  • Consumers cite quality as the number one reason to explain why they select the products they buy.
  • Quality also ranks as the first or second most important type of product information for consumers across the food, building materials, high-tech and smart appliance categories.

Consumers are becoming more sophisticated

  • Consumers are able to demonstrate a nuanced understanding of product safety issues, picking online security as their number one high-tech safety concern, while selecting toxic emissions/indoor air pollution as the number one concern for home building materials.
  • Consumers prioritise product safety for products that are in or surrounding their bodies due to the immediate impact to their health or exposure over extended periods of time. Consumers rank product safety as most important to fresh (29 percent) and processed foods (27 percent) and home building materials (23 percent) versus high tech (10 percent) and smart appliances (9 percent). Product safety is also the information consumers most want when considering purchasing food or home building materials, but safety information is not among the top three types of information consumers want for consumer electronics or smart appliances.
  • Sixty-eight percent of manufacturers feel it is very important to clearly show consumers what ingredients/components are included in their products.

To obtain the full study with all key findings, visit:  www.ul.com/productmindset.

Methodology

Global quantitative research was conducted by an independent research firm during spring 2012. For the study, 1,201 consumers and 1,202 manufacturers in China, Germany, India and the United States were interviewed across an array of topics related to safety, performance, innovation and sustainability. Manufacturers were selected from the high technology/consumer electronics, food, smart appliances and building materials sectors and were interviewed by phone.  Consumers were interviewed through an online survey. 

About UL:

UL is a premier global independent safety science company with more than 118 years of history. Employing more than 10,000 professionals with customers in over 100 countries, UL has five distinct business units -- Product Safety, Environment, Life & Health, Knowledge Services, and Verification Services - to meet the expanding needs of our customers and to deliver on our public safety mission.  For more information on UL's family of companies and network of 95 laboratory, testing, and certification facilities, go to www.UL.com.

Primary Media Contact: Carla Slawson, [email protected], 1-847-6641812

Secondary Media Contact: Lavanya Chandra Bose, [email protected], 91-80-4138 4400


More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that Dasher Technologies will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Dasher Technologies, Inc. ® is a premier IT solution provider that delivers expert technical resources along with trusted account executives to architect and deliver complete IT solutions and services to help our clients execute their goals, plans and objectives. Since 1999, we'v...
Though cloud is the future of enterprise computing, a smooth transition of legacy applications and systems is critical for seamless business operations. IT professionals are eager to start leveraging the cost, scale and other benefits of cloud, but with massive investments already in place in existing infrastructure and a number of compliance and resource hurdles, it can be challenging to move to a cloud-based infrastructure.
SYS-CON Events announced today that NetApp has been named “Bronze Sponsor” of SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. NetApp is the data authority for hybrid cloud. NetApp provides a full range of hybrid cloud data services that simplify management of applications and data across cloud and on-premises environments to accelerate digital transformation. Together with their partners, NetApp emp...
In his session at 21st Cloud Expo, Raju Shreewastava, founder of Big Data Trunk, will provide a fun and simple way to introduce Machine Leaning to anyone and everyone. Together we will solve a machine learning problem and find an easy way to be able to do machine learning without even coding. Raju Shreewastava is the founder of Big Data Trunk (www.BigDataTrunk.com), a Big Data Training and consulting firm with offices in the United States. He previously led the data warehouse/business intellige...
SYS-CON Events announced today that IBM has been named “Diamond Sponsor” of SYS-CON's 21st Cloud Expo, which will take place on October 31 through November 2nd 2017 at the Santa Clara Convention Center in Santa Clara, California.
SYS-CON Events announced today that TidalScale, a leading provider of systems and services, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. TidalScale has been involved in shaping the computing landscape. They've designed, developed and deployed some of the most important and successful systems and services in the history of the computing industry - internet, Ethernet, operating s...
Infoblox delivers Actionable Network Intelligence to enterprise, government, and service provider customers around the world. They are the industry leader in DNS, DHCP, and IP address management, the category known as DDI. We empower thousands of organizations to control and secure their networks from the core-enabling them to increase efficiency and visibility, improve customer service, and meet compliance requirements.
In his session at 21st Cloud Expo, Michael Burley, a Senior Business Development Executive in IT Services at NetApp, will describe how NetApp designed a three-year program of work to migrate 25PB of a major telco's enterprise data to a new STaaS platform, and then secured a long-term contract to manage and operate the platform. This significant program blended the best of NetApp’s solutions and services capabilities to enable this telco’s successful adoption of private cloud storage and launchi...
Data scientists must access high-performance computing resources across a wide-area network. To achieve cloud-based HPC visualization, researchers must transfer datasets and visualization results efficiently. HPC clusters now compute GPU-accelerated visualization in the cloud cluster. To efficiently display results remotely, a high-performance, low-latency protocol transfers the display from the cluster to a remote desktop. Further, tools to easily mount remote datasets and efficiently transfer...
SYS-CON Events announced today that IBM has been named “Diamond Sponsor” of SYS-CON's 21st Cloud Expo, which will take place on October 31 through November 2nd 2017 at the Santa Clara Convention Center in Santa Clara, California.
Cloud Expo, Inc. has announced today that Andi Mann and Aruna Ravichandran have been named Co-Chairs of @DevOpsSummit at Cloud Expo Silicon Valley which will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. "DevOps is at the intersection of technology and business-optimizing tools, organizations and processes to bring measurable improvements in productivity and profitability," said Aruna Ravichandran, vice president, DevOps product and solutions marketing...
Join IBM November 1 at 21st Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA, and learn how IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Cognitive analysis impacts today’s systems with unparalleled ability that were previously available only to manned, back-end operations. Thanks to cloud processing, IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Imagine a robot vacuum that becomes your personal assistant tha...
In a recent survey, Sumo Logic surveyed 1,500 customers who employ cloud services such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP). According to the survey, a quarter of the respondents have already deployed Docker containers and nearly as many (23 percent) are employing the AWS Lambda serverless computing framework. It’s clear: serverless is here to stay. The adoption does come with some needed changes, within both application development and operations. Tha...
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, will lead you through the exciting evolution of the cloud. He'll look at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering ...
SYS-CON Events announced today that Avere Systems, a leading provider of enterprise storage for the hybrid cloud, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Avere delivers a more modern architectural approach to storage that doesn't require the overprovisioning of storage capacity to achieve performance, overspending on expensive storage media for inactive data or the overbui...