November 24, 2017
Implementing a successful growth-generating digital strategy comes down to vision and top-down leadership. Without these, imagining the future and thinking big become stuck in short-term budgetary concerns. The reality is: it’s about spending money to make money as the manufacturing industry digitises. Embracing digital services directly impacts business growth. Increased financial investment in manufacturing digitisation allows businesses the opportunity to see the big picture and adapt appropriately to demand volatility. Evidence shows that globally, investment in digital initiatives has increased manufacturing costs by 1%. Much of this is due to the investment, training and skills needed to use and operate cutting-edge technologies, but this increase in costs is not in vain, as manufacturers are already beginning to see growth from investment in digital strategies. For certain manufacturers, digital is estimated to have added 5.4% to total revenue between 2015 and 2016. This is a worthwhile…