A Blueprint For P&L Payback
76% of manufacturers say they struggle to prioritize tech investments, and the majority say quantifying ROI on those investments is a challenge. We put together this short guide to help you create a pathway to overcome those problems.
Finding tech investments that are both quick to implement and provide a quick payback is not only possible, but the best way to prioritize your investments.
The first step is defining your problems. Look at business cases and goals, and zero in on the specifics. How much money are you losing to quality failures? What would you do if you could increase throughput by 10%? What pain points can be solved the quickest, and what is the fastest way to improve quality and/or performance?
It’s extra critical when you’re making decisions around where to invest and what systems to use that you always work towards that Northstar of having the systems connected, and use data to help you make decisions. This makes quantifying ROI, or measuring the impact of a new tool, much more straightforward.