Smart Manufacturing and its Financial Implications

Authors

  • Karteek Madapana Research Scholar, School of Management Studies, GIET University, Odisha, India
  • N V J Rao Professor, School of Management Studies, GIET University, Odisha, India
  • Animesh Agrawal Research Associate, Nation Institute of Technology Raipur, India
  • Suraj Kumar Mukti Associate Professor, Nation Institute of Technology Raipur, India

Keywords:

Smart manufacturing, Financial implications, Cost reduction, Revenue growth, Financial planning, Risk management

Abstract

This chapter explores the financial implications of smart manufacturing, examining its impact on cost reduction, revenue growth, ROI, and financial planning. It emphasizes the importance of risk management and financial controls in smart manufacturing. Effective performance measurement through tailored KPIs is discussed. Investment analysis and decision-making frameworks are provided. Real-world case studies showcase successful implementations and outcomes. Overall, this chapter provides a concise exploration of the financial implications of smart manufacturing, enabling organizations to optimize financial performance and capitalize on its potential in gaining a competitive edge.

Downloads

Published

2023-08-05

Issue

Vol. 2 No. 1 (2023): Smart Manufacturing: Transforming the Future of Supply Chain Management

Section

Articles