Musts, Needs and Wants In a Low Margin Business
There is more psychology involved in decision-making related to production hardware and software purchases than most people realize. Low-margin businesses tend to withhold investment in order to support short-term profitability, but with oft forgotten longer-term consequences. If opportunities and challenges as we come out of “COVID 2020” are significant enough, what should be the smart approach to making key investments, if any? Michael Ford explains his three laws of manufacturing digitalization..