Digital Tools Can Help Manufacturing Companies Cut Costs by 30%
Manufacturing companies have historically had an on-off relation with technology. Most have aggressively adopted traditional technologies such as Enterprise Resource Planning (ERP). However, they have been slow in adopting recent digital technologies such as big data analytics, real-time order confirmation, Web-EDI among others. Moreover, most have adopted technologies to varying extent creating a connectivity gap in their operations. We believe digital technologies will help manufacturing companies in eliminating this gap. Our research and project experience indicate that by adopting digital tools, manufacturing companies can cut costs by as much as 30% by enabling savings on capital costs, labor field force among other key cost elements.