Today, India is at an inflexion point where technology redefines business models, and manufacturing is no exception. Many new digital technologies will pioneer the manufacturing industry backed by the digital-first approaches.
Trends of the future
As the manufacturing industry reinforces its path towards digitalisation, trends like the adoption of digital twins, 3D Printing, AI, Machine Learning, IoT and AR/VR are witnessing faster acceptance and implementation than ever before. A transformational vision towards Industry 4.0 and smart factories among the Indian manufacturing ecosystem will stimulate growth required for this industry and provide the impetus to stand the test of times.
As a result of the pandemic, many manufacturers needed to shift to a contactless, digital model and engage with their end customers digitally. Manufacturers needed to install business solutions that create superior digital experiences for their customers and ecosystem.
With a sudden change post the lockdown, the companies now needed to invest in a new set-up that addresses the present challenges. They will need to pivot and adapt to market turbulence, downturns and unpredictability.
The uniting of supremacy and productivity of modern factories with the data and adaptability of software is helping the manufacturing industry become a platform for innovation. Software applications, like Manufacturing Executive Systems (MES)/smart manufacturing, provide manufacturers with agenda, planning, tracking, analysing and capabilities to control the manufacturing operations, thereby giving real-time updates on the shop floor and speeding up the issue of redressal mechanisms.
Reinventing to stay ahead
Manufacturing companies need to realise the role of digital transformation to reduce cost, increase productivity and efficiency of employees in this era. They need to speed up the adoption of technology on the shop floor and help create India as a global manufacturing hub. As we overcome the global pandemic, it is crucial to make India a nation and its key industries self-reliant. The modernisation of manufacturing and infrastructure sectors is a must to speed up productivity. Technology investments across them must also accompany this.
It is time to reinvent the country as a destination for innovative solutions that support engineering design and create hubs supporting local innovations at different levels. Governments are also supporting the industry by bringing in initiatives like Make in India, Digital India and Aatmanirbhar Bharat.
Recommendation for successful transformation
Today, companies across sectors are rushing towards adopting digital technologies. Instead of racing to adopt the latest technology, companies primarily need to look at the business model first and then acquire the capabilities, skill sets and employees needed to create that change.
Although most companies and executives know how important it is to evolve with technology and create digital processes and solutions, implementing it in the entire ecosystem is a different story. Many businesses have faltered in correctly adopting their digital transformation goals.
Firstly, companies should implement these technologies on a smaller scale before going the full mile. Secondly, for a successful digital transformation, the intent and ideology need to be deeply integrated into the company’s fabric. Lastly, businesses should invest in training their employees to learn and use these digital technologies effectively to reach business goals primarily.
Overall, technology is rapidly changing, so companies need to be agile enough to adapt new-age technologies into their processes to usher in a truly digital era.