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According to an annual CHAOS report, 66% of technology projects (based on the analysis of 50,000 projects globally) end in partial or total failure.
WHEN THINKING ABOUT automation projects, it seems natural for most consumer product goods (CPG) manufacturers to think first about how equipment can improve a process, increase productivity, and reduce labor costs. After all, it’s easy to visualize how a few cobots can speed up end-of-line product packing and eliminate the need for several people performing the same task. But there’s another side to the automation equation that can yield significant productivity improvements as well: digital transformation (DX).
Some recent data shows just how significant these improvements can be. In its 2022 Global Food and Beverage Industry Trends report, International Data Corp. (IDC) revealed that companies adopting digital transformation into their operations have seen a measurable increase in productivity and profits.
About three-quarters of the survey respondents have seen KPI improvements across all areas of the business (production, quality, supply chain, logistics, sales, e-commerce) because of their digital transformation initiatives, and an additional 45 to 55% expect to see even more improvements over the next 12 months. Companies investing early in digital transformation are now reaping the benefits, IDC concludes, and those still sitting on the fence are at a potential disadvantage.
Using the FSO Institute’s Automation Roadmap (see below)—especially the first two stops, Discovery (Where to Start?) and Feasibility Assessment (What to Do?)—enables the company to explore the advantages of thinking beyond equipment to digital transformation in the early stages of automation projects.
Consider the list of challenges, opportunities, aspirations, or initiatives facing you and your organization, you will be guided through your journey by the proven expertise of the FSO Institute.
TECHNOLOGY
The FSO Institute is dedicated to operational execution for Consumer Packaged Goods companies (CPGs). FSO coaches skillfully combine assessment tools, designed and built specifically for CPGs, with industry focused benchmarking data and robust networking opportunities.
Collectively, these tools are designed to help identify your company’s opportunities for improvement, take advantage of evolving best practices, transform your culture, and optimize operations to meet market demand.
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