In a new OP-ED published on Forbes, Jim Lawton questions if a decades old emphasis on increasing efficiency while keeping costs down as the benchmark for measuring success in the manufacturing industry may be out of place with the new Advanced Manufacturing.
Technology has always promised to improve efficiency – the ability to do things right. And that has always been at the heart of any case for investment. Today though, technology has to meet a higher standard: effectiveness or the ability to do the right thing. For manufacturers, having leveraged technology to optimize efficiency, it is time to focus on growth, innovation and customer-centric models to change the mindset that’s fueling the race to the bottom (line). Emphasizing the results that contribute to opportunity and potential will cultivate performance that’s built on lasting value.