Energy has always been one of the heaviest line items on a P&L for manufacturers. While manufacturing executives are acutely aware of the energy costs, they have struggled to enforce energy-saving procedures. In fact, the push for quality and productivity could have counterproductive effects on energy consumption. To find the cost-saving opportunities available through energy, the executives need to consider comprehensive approaches, including factoring energy costs into product costs and performance metrics like product quality and quantity. They also need to adopt industry 4.0 technologies to provide historical data to capitalize on cost savings available through energy.
In today's episode, we have our guest Mike Nager, who discusses the organizational metrics and KPIs that completely ignore the cost savings opportunities available through control and policies. He also touches on trends in other countries where energy prices may be higher. Finally, he shares several stories and describes several technologies that companies could use to accelerate industry 4.0 adoption, which will help companies save on energy costs and help them grow faster.
For more information on growth strategies for SMBs using ERP and digital transformation, visit our community at wbs.rocks or elevatiq.com. To ensure that you never miss an episode of the WBS podcast, subscribe on your favorite podcasting platform.