The Value of Smart Manufacturing:
Techniques for Finding the Payback for New Projects
There’s many different reasons why a Smart Manufacturing project can fail. It can go over budget, go behind schedule, not be accepted by the end users, be too complicated, or simply not work as advertised.
But there’s only one way a Smart Manufacturing project can be successful. And that’s if it adds real value to the manufacturing company. The value may be found in increased capabilities such as increased consistency, increased productivity, increased flexibility, or increased agility. Or the value may be found in reduced costs such as reduced labor costs, reduced material costs, reduced energy costs, or lower levels of rework and waste.
And, for a Smart Manufacturing project to be successful, it has to be about more than just the technology. It can’t be just a technology project. It has to be about delivering real benefits to the company.
Even if a Smart Manufacturing project comes in under budget, ahead of schedule, and has the newest and coolest technology on the market, if it doesn’t deliver real value to the company, it is a failure.
Join us in the MESA Smart Manufacturing ROI Workshop as we discuss many different techniques for finding payback for Smart Manufacturing projects:
- Providing significant new capabilities and processes
- Reducing capital costs and reducing operating costs
- Empowering teams and improving decision-making
- Creating new and better ways of doing business
- Metrics and measuring both tangible and intangible payback