Many of the problems that surround the decision to go digital stem from fear. Not only the fear of whether it’ll be worth it, or if it’s true that you’ll fall behind everyone else, but the fear of not seeing a return on your investment — the fear that it’ll end up hurting you instead of helping you.
Digitizing a factory involves a little effort. Many may think that investing would be easier if they had a greater sales volume, but if a company has less turnover, it’s because it’s producing less; if it’s producing less, it’s because it’s smaller; and if it’s smaller, it’ll cost less to digitize because investments are always directly proportional to company size.
Various success stories show that the risk is worthwhile if it produces positive medium-term results. But what if your expected return on investment was short-term, not long-term like many think? And what if was greater than 50 %? The results obviously can’t be analysed until at least three months after the data have been effectively in use, but if we add this data-analysis time to the time it takes to draw up a new implementation plan — one that optimizes the factory’s strengths and eliminates its weaknesses — the client will begin to see a gain from the investment within two years.
Currently, many studies show that two years after digitizing a factory the ROI stands at around 65 %. You have to start seeing the glass as half full, not half empty, because the results are much more positive than people think. This investment is a must. Remember, we aren’t the ones moving toward the future — the future is moving towards us. It’s not just the right decision, it’s the only decision.