Article by Kevin Must, Marketing Lantek USA
Rapid advancements in technology have led to a decrease in prices across the board. These advancements have helped drive initiatives that all manufacturers can adopt to become more digital – regardless of size. Many of the case studies published are from larger manufacturers which makes these technologies seem out of reach for smaller shops.
Case studies written about successful Industry 4.0 implementation in larger companies showcase the expansive scope these initiatives have when it comes to cost savings and profit gains. While these big numbers make large companies feel warm and fuzzy inside, it may taint the view from smaller companies. Those looking into new technologies may think these advanced solutions are out of their budget. That is the farthest thing from the truth.
Using business intelligence to boost profits
By taking the proper steps and thoroughly planning the best implementation schedule, any size shop can afford solutions for more efficient operation. After all, the purpose of business intelligence solutions are to save money while boosting profits.
It’s hard not to look at the initial price tag and think it is costly. However, this as an investment in the future of your company. Not only will these solutions help win more contracts and increase profits, they provide manufacturing analytics for continual improvement. Like buying a house, purchasing software to become a Smart Factory is a long-term investment that will save you money and build equity in your company.
Tax reform for manufacturing can give you an edge
Lastly, the recent tax reform offers manufacturers higher deductions for investing in new technologies, from software to machines. With a higher deduction threshold than years past, it is worth exploring how you can leverage the recent changes to the tax law to expand operations.
Next time you hear or read about the digital transformation for manufacturers, don’t count yourself down and out. There are always new and affordable opportunities for shops to digitize and thrive in today’s marketplace.
How to begin the smart factory process
Lantek has worked with manufacturers of all sizes on the path to digital transformation. We know how to help you plan and begin the process - one step at a time. With over 30 years of experience in sheet metal solutions, we are ready for you to contact us today.
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