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10 Ways Manufacturers Can Recoup The Costs Of Digitalization Efforts

Posted by Harriet Schneider on Sep 11, 2018 8:00:00 AM

 

With digitalization, manufacturers can achieve ROI in two ways: By reducing costs or by increasing revenue. According to, “Manufacturing's next big act: Building an industrial digital ecosystem,” nearly two-thirds of manufacturers expect digital manufacturing technologies, such as increased use of sensors, to help reduce overhead by at least 11%. A very optimistic 23% even hope to see cost savings of more than 30%. Most are basing their projections on the efficiencies gained from automation. In addition, more than half expect to see revenues gains of at least 11% (with 18% expecting revenues to rise more than 30%) over the next 5 years.

digitalization in manufacturing


Download this paper to read more about these 10 ways manufacturers can realize ROI from their digitalization efforts:

  1. Increasing automation
  2. Becoming more proactive
  3. Understanding asset lifecycles
  4. Modifying resource allocation
  5. Controlling inventory investment
  6. Maximizing in-plant generated data
  7. Using data beyond the plant walls
  8. Monetizing data
  9. Selling upgrades
  10. Selling aftermarket services

And, as always, ICCG can help. Schedule a complimentary consultation to review your questions.

Topics: Manufacturing, Industrial Manufacturing, ERP, Enterprise Resource Planning, Infor M3

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