Challenges Posed to Finance by 3D Printing and the Digital Factory

Published by , November 14, 2017 12:34 pm

(AutomationWorld) What will be the impact of 3D printing and the IoT on the finance function? The first challenge for finance is to justify the investment in the digital factory. The nature of disruptive change is that it comes without a proven track record. Finance personnel need to take a deep dive into operations and gain a firsthand understanding of the inevitability and massive benefits of the digital revolution in the factory, or the CEO needs to put down the hammer and require it.
The second challenge for finance is planning for and adapting to a new business model for the organization. The third challenge is to adapt the organization’s performance management information and supporting systems to effectively support, manage and control the digital factory and its new business model. The challenge for finance personnel is to understand and adapt to the digital factory in order to maintain the organization’s relevance in a digital world.

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