How do you prioritize technology investments at iTc limited to ensure alignment with business objectives and maximize Roi, particularly in the manufacturing sector?
Let me take a step back before I answer your question about investments.
At ITC, our ITC Next strategy seeks to architect the next horizon of competitiveness, growth and profitability in the face of global uncertainties. It aims to transform ITC into a Future Tech, Consumer Centric, Climate Positive and Inclusive enterprise. The strategy has six foundational pillars one of them being Digital. For each business of ITC, digital is helping unlock value across our value chain. For e.g.: For our consumer facing businesses digital helps us drive Superior Insight, Agile Innovation, Hyperpersonalization and Marketing ROI. At the same time for our manufacturing operational digital helps drive Energy optimisation, Quality Improvement, Yield Improvement, and Operational efficiency.
Going back to your question on investments, at ITC the use case helps define the technology and how the ROI is measured. For each digital project establishing a clear understanding of the end-outcome is critical. I can broadly classify the projects into three categories: Efficiency / Productivity improvement projects, Growth / Revenue enhancing projects, and projects that create a Societal impact.
In a manufacturing context we deploy multiple Industry 4.0 technologies to help drive the outcome I have mentioned earlier.
Could you elaborate on your strategies for breaking down silos within the organization to foster collaboration and innovation across different departments, especially in the context of digital transformation initiatives?
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