Smart Factories Require Smart Investments

A Different Way to Invest in Transformation

Funding of smart factories needs to change to smart investing to accelerate transformation of current and new smart factories. The traditional way of factory-level investments (both IT- or operational-technology-related) being subjected to a lengthy and rigid capex-based procurement process is not compatible with the speed and scale needed to make smart factory strategies work. To make the business case for smart and new funding models, manufacturing CIOs will need to:

• Shift investment planning to an agile model that rebalances the capex/opex ratios.
• Leverage composable thinking and composable business architectures to limit traditional
project-based approaches and drive scale.
• Accelerate buy-in from C-level executives and/or LOBs by using early adopter incentives and risk-adjusted metrics.

Read the complete Gartner report to access the detailed findings and recommendations to help you support your smart factory strategy.

Source: Gartner, Industry Insights: Smart Factories Require Smart Investments — a Different Way to Invest in Transformation, 24 January 2023, by Scot Kim & Simon Jacobson

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