Investing in new productive assets and technology is critical to keep manufacturers competitive. Over 40% of manufacturers identify uncertainty on the Return on Investment as the main reason they are not investing in new technology. CME’s Technology Assessment Program will help companies understand which technologies are best suited for their needs and provide greater certainty on investments.
A SOLUTION TO HELP SMES
The Technology Assessment Program connects SME Manufacturers in British Columbia with LEAN Facilitators to get customized Technology Assessments.
CME’s LEAN Facilitators will work on-site with your Company to create a customized plan on how to improve your productivity by capitalizing on existing assets and guiding your team in implementation of the latest advanced manufacturing technologies including hardware, software and cloud computing.
Upon completion of the Assessment, the Facilitator will recommend an action plan that will enable your business to make informed decisions as you move forward to assess, purchase, adopt, implement, train and/or maintain new technologies.
A VIRTUOUS CYCLE OF INVESTMENT
Strategic investment in innovation and technology adoption is the starting point on a virtuous cycle that ultimately leads to more output, employment and economic growth. Innovation and investment in new technologies improve business productivity, helping businesses become more competitive. The businesses then attract more production mandates and capture more market share, resulting in higher output and exports. Higher output leads to greater firm profitability, which leaves businesses with more money to invest in innovation and new technologies.
POTENTIAL BENEFITS OF TECHNOLOGY ADOPTION
Lower Operating Costs
Digitization opens the door to the collection of data that can be mined to identify efficiencies in existing operations, decrease downtime and monitor and guide production activity.
Increased Product Quality
Advanced technologies can help to root out errors and deficiencies in production, boost quality control and lead to overall improvements in the production process.
Higher Innovation Capacity
Technologies like 3D printing and rapid prototyping speed up innovation cycles and can unlock new abilities and capacity that were previously unavailable to producers.
Increased Customer Satisfaction
Digitization and advanced technology use can increase customer satisfaction by decreasing response times, creating more specialization and customization opportunities and improving product quality.
FUNDING FOR THIS PROGRAM PROVIDED BY the Government of British Columbia
CME gratefully acknowledges the financial support of the Province of British Columbia through the Ministry of Jobs, Economic Recovery and Innovation. They recognize the importance of investment in keeping our industry competitive and are funding this initiative entirely through the Supply Chain Resiliency Initiative.
CME BC Division