Blog

We've had a remarkable 2018. Now we are entering that time of the year when businesses are strategizing for the year ahead, looking for ways to serve their clients better than they had before, and for making available products that are customized for their needs.

Indian manufacturing industry has journeyed several strides of challenges to reach the level of growth that we see now. The machine tool industry has been an enabler in this and acted as its backbone.

Organizations strategize to achieve their key objectives. However, the achievement is largely dependent on the actions on the ground floor, which means the top floor and shop floor should act in unison.

I have often been asked what drives me to continent-hop and travel across the length and breadth of the globe to visit trade shows so religiously. Why, some wonder, do I need to be in the thick of things, almost always.

The Indian manufacturing landscape is undergoing a rapid change. Industries are gearing up to meet customers' demands, both in terms of quality as well as quantity.

The Indian manufacturing industry has changed its course and taken a different path, the policy framework for which was set forth by the Government of India around three to four years ago with its 'Make in India' initiative.

Recently the most awaited full-month sport spectacle – Fédération Internationale de Football Association (FIFA) World Cup – concluded captivating the entire planet with its magnitude and an all-encompassing importance. The global football epidemic was an incomprehensible force that taught us several lessons that hold true for today's marketplace.

The most important responsibility of the Chief of Marketing in any organization is managing marketing profitability and delivering the best return from marketing resources. Strategies and plans must deliver current and future profits to keep the organization healthy and growing. How should then he or she manage these resources; should the CMO be driven by insight from markets and customers or by the data or by relationships?

Technologies of today are sure to become obsolete tomorrow. Change is inevitable. To sustain itself in business and make the best of it, manufacturing industry needs to keep innovating continuously. This will enable it to stay relevant in the face of rising competition. Customer aspirations and demands being in constant flux also pose a challenge to the industry. To overcome that, the industry has to have a clarity on their needs to offer them the right products and choices.

Industrial inventions are key at igniting economic growth of a country. Technology plays an important role in this. Technological innovations fostered through greater use of artificial intelligence, robotics, internet of things and data-based networks in economical and sociological applications, and the tilt towards green industries will redefine the functioning of manufacturing industry in future.