Thursday, January 21, 2021
Literary Reviews
  • Home
  • OUR BOOK SHOP
    • Erotic Novels
    • BEST SELLING BOOKS
    • Science Fiction Books
    • Business and Management
    • Computing and IT
    • Cooking
    • Education
    • Religion & Spirituality
    • Self Help
    • Teens & Young Adults
  • Literary Review
  • Literature
  • Book Writing
  • Kindle Publishing
  • Romantic
  • Science Fiction
  • Cooking
  • MORE
    • Erotic
    • Mysteries, Thrillers
    • Literary Themes
    • Business and Management
    • Literary Agents
    • Literary Devices
    • New Books
    • Self Help
    • Teens & Young Adults Novels
    • Computing and IT
    • Education
    • Religion & Spirituality Novels
No Result
View All Result
Literary Reviews
Home Business and Management

Will technology fuel India’s dreams of becoming the next global manufacturing hub?

admin by admin
June 27, 2020
in Business and Management
0
Will technology fuel India’s dreams of becoming the next global manufacturing hub?
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter


It has been a strategic priority of rich nations over the last century to create a high-quality manufacturing sector, to develop national wealth, power, and foster economic growth. From the emergence of England as a powerhouse in the 19th century, to the rise of the US, Germany, Japan and the USSR in the 20th, to the more recent industrializing countries like China, Korea and Taiwan, manufacturing has been the key to prosperity. For the Indian manufacturing business, the government’s call for “Atamanirbhar Bharat” is well-aligned with the spirit of ‘think global, act local’, as the country seeks to push for self-reliance alongside a strong commitment to the global welfare. 

Taking a step back in time, we realize that it isn’t enough to simply have factories and produce more goods, instead the means of production is what remains the key to power. This brings us to the question, will the next transformation in manufacturing be led by what’s digital? Smart manufacturing will not only help boost domestic consumption of locally manufactured products but also create a resilient supply chain that would eventually link with global value chains. 

Unclear economic benefits, and insufficient technology infrastructure are some of the key impediments to the adoption of digital manufacturing in India. And it is not surprising, considering the complexities of integrating hardware, software, data infrastructure, digital systems, and decision intelligence capabilities into large machinery. Additionally, innovation and investment remain subdued due to limited awareness and apprehension about the impact that they can achieve through targeted investments in technology. The novel coronavirus has also added to this dilemma, forcing companies to rethink their business models, including workforce safety and supply chain movement.   

Intelligent manufacturing and reinventing business value chain

As social distancing becomes the norm, manufacturers will have to brace themselves for a ‘new reality’ that will bring a fundamental shift in the way shop floors are run and workforce will be managed. Businesses will need to adopt a ‘digital first approach’ that will include leveraging connected technologies such as the IoT and cloud computing that transform every touchpoint into a sensor, providing real-time business insights. Leveraging predictive analytics that automate data collection processes, can help manufacturers develop a better understanding of how systems works and thus make informed administrative decisions on the go about demand forecast and flexible manufacturing of the products that the customers want. This can enhance productivity, inventory management and aid in creation of superior quality products, all while keeping human errors and costs low. Additionally, the advancements in analytical techniques based on statistical modelling and Machine Learning powered algorithms can help in analysing the vast amount of data and develop actionable insights to target higher levels of performance on the shop floor. 

Another technology that is already creating waves in the industry is additive manufacturing or what is largely popular as 3D printing. As the current crisis has revealed, 3D printing has emerged as a valuable resource for emergency production of healthcare products. Its application has also demonstrated product mix as a value lever, with industry wide collaborations by apparel makers to luxury goods producers to quickly manufacture medical components and protective gear for health workers, on a large scale. Furthermore, by leveraging technologies such as 3D printing and robotics, alongside traditional practices, businesses can automate many complex manufacturing processes. This can facilitate reshoring of operations and reducing dependence on multiple resources that could lead to sudden disruption of business value chains, in case of a future pandemic or natural disasters.  

This is also an opportunity to rethink employee skilling and the human machine collaboration.  Enterprises should, therefore, actively pursue assistive technologies such as Virtual Reality (VR) and Augmented Technology (AT) to transform employee operations, while pursuing diversification and growth. For example, using VR software on computer aided designs, product developers can make modifications during the product design stage or using AR devices such as electronic glasses, businesses could train workers on how to perform a task, thus enabling them to perform skilled tasks. Sophisticated and industry 4.0 innovations such as Blockchain, AI based solutions and ERP technology can help manufacturers identify possible disruptions, including inventory, warehousing, suppliers, vendors, while bots and gamification of experiences can enhance engagement with customers and channel partners. 

As is true of any disruption, the ongoing pandemic will have a long-lasting impact on the manufacturing industry. While there is no denying the tragic human cost and the unimaginable economic damage resulting from this crisis, it is perhaps the right time for us to step back and take a different perspective of what is unfolding and accelerate adoption of digitalisation to spur us on towards a better, meaningful and sustainable world.

DISCLAIMER : Views expressed above are the author’s own.

Related posts

ReShape Lifesciences Inc. to Merge With Obalon Therapeutics, Inc. to Expand Weight Loss Product Offering

ReShape Lifesciences Inc. to Merge With Obalon Therapeutics, Inc. to Expand Weight Loss Product Offering

January 20, 2021
Acacia Pharma wins BEL Small Company of the Year for the second consecutive year Brussels Stock Exchange:ACPH

Acacia Pharma wins BEL Small Company of the Year for the second consecutive year Brussels Stock Exchange:ACPH

January 20, 2021
Tags: dreamsfuelGlobalhubIndiasmanufacturingtechnology
Previous Post

Impact of Covid-19 on Mobile Edge Computing Market Latest Demand by 2020-2026 with Leading Players Like – BlackBerry (Canada), Citrix Systems (US), IBM (US)

Next Post

Cooking in place in the time of coronavirus

Next Post
Cooking in place in the time of coronavirus

Cooking in place in the time of coronavirus

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Review: In ‘Begin Again,’ Eddie Glaude channels James Baldwin, calls for truth-telling | Book Reviews

Review: In ‘Begin Again,’ Eddie Glaude channels James Baldwin, calls for truth-telling | Book Reviews

6 months ago
Limited research, guidance on depression screening tools for patients with kidney failure

Limited research, guidance on depression screening tools for patients with kidney failure

2 months ago
Paul Thomas Anderson’s cinema honoured by new book and some masterful artworks

Paul Thomas Anderson’s cinema honoured by new book and some masterful artworks

3 months ago
Gotham Book Prize To Award Winning Author $50,000 For Book About Or Set In New York City

Gotham Book Prize To Award Winning Author $50,000 For Book About Or Set In New York City

6 months ago

Products

  • The Human (Rise of the Jain) £12.13
  • My Favorite Recipes: Blank Recipe Book to Write In: Collect the Recipes You Love in Your Own Custom Cookbook, (100… £7.36
  • The Ballad of Songbirds and Snakes (A Hunger Games Novel) (The Hunger Games) £12.90
  • A Good Girl's Guide to Murder £3.99
  • Atomic Habits: The life-changing million copy bestseller £12.65

BROWSE BY CATEGORIES

  • Book Writing
  • Business and Management
  • Computing and IT
  • Cooking Books
  • Education
  • Erotic
  • Kindle Publishing
  • Literary Agents
  • Literary Devices
  • Literary Review
  • Literary Themes
  • Literature
  • Mysteries, Thrillers & Suspense
  • New Books
  • Religion & Spirituality
  • Romantic Novels
  • Science Fiction
  • Self Help

RELATED PRODUCTS

  • The Prison Doctor: Women Inside: Stories from my time inside Britain’s biggest women’s prison. A Sunday Times best… £3.99
  • Go Your Own Way (The Parker Sisters Book 5) £3.99
  • The Addiction Recovery Skills Workbook: Changing Addictive Behaviors Using CBT, Mindfulness, and Motivational… £13.99
  • Feed Your Family For £20 a Week: 100 Budget-Friendly, Batch-Cooking Recipes You’ll All Enjoy £11.55
  • Change Your Thinking with CBT: Overcome Stress, Combat Anxiety and Improve Your Life £16.99

PRODUCT CATEGORIES

  • Best Selling Books
  • Erotic
  • Science Fiction Books
  • Cooking
  • Business and Management
  • Education
  • Computing and IT
  • Religion & Spirituality
  • Teens & Young Adults
  • Self Help
  • Mysteries, Thrillers & Suspense
  • Romance Books
Literary Reviews

Follow us on social media:

Recent News

  • Amid Crushing Pandemic-related Financial Challenges, New Book Offers Actionable Plan on How to Avoid Financial Disaster and Build Wealth & Freedom Instead
  • The Watch Reveals the Romantic Future of Two Major Heroes
  • A career of an eccentric master of surrealism

Category

  • Book Writing
  • Business and Management
  • Computing and IT
  • Cooking Books
  • Education
  • Erotic
  • Kindle Publishing
  • Literary Agents
  • Literary Devices
  • Literary Review
  • Literary Themes
  • Literature
  • Mysteries, Thrillers & Suspense
  • New Books
  • Religion & Spirituality
  • Romantic Novels
  • Science Fiction
  • Self Help

Recent News

Amid Crushing Pandemic-related Financial Challenges, New Book Offers Actionable Plan on How to Avoid Financial Disaster and Build Wealth & Freedom Instead

Amid Crushing Pandemic-related Financial Challenges, New Book Offers Actionable Plan on How to Avoid Financial Disaster and Build Wealth & Freedom Instead

January 21, 2021
The Watch Reveals the Romantic Future of Two Major Heroes

The Watch Reveals the Romantic Future of Two Major Heroes

January 21, 2021
  • Home
  • OUR BOOK SHOP
  • Literary Review
  • Literature
  • Book Writing
  • Kindle Publishing
  • Romantic
  • Science Fiction
  • Cooking
  • MORE

© 2020 literaryreviews

No Result
View All Result
  • Home
  • OUR BOOK SHOP
    • Erotic Novels
    • BEST SELLING BOOKS
    • Science Fiction Books
    • Business and Management
    • Computing and IT
    • Cooking
    • Education
    • Religion & Spirituality
    • Self Help
    • Teens & Young Adults
  • Literary Review
  • Literature
  • Book Writing
  • Kindle Publishing
  • Romantic
  • Science Fiction
  • Cooking
  • MORE
    • Erotic
    • Mysteries, Thrillers
    • Literary Themes
    • Business and Management
    • Literary Agents
    • Literary Devices
    • New Books
    • Self Help
    • Teens & Young Adults Novels
    • Computing and IT
    • Education
    • Religion & Spirituality Novels

© 2020 literaryreviews

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In