Page 37 - MMI- Aug2022

sis than their competitors. The Discrete manufacturers in Auto, cess to real-time supply chain
organizations have benefited Electrical, and Electronics ac- data so they can respond to sup-
from the accelerated adoption of count for 75 percent of total tech ply problems and demand rises
quick-win solutions that assist spending, while Chemicals and more swiftly. Modern technol-
businesses in responding to and Pharma top the Process Manu- ogy has enabled the industrial
adapting to the new norms, such facturing industry. Although the sector to efficiently use digital
as tracking employee health, industry has hurdles in scaling technology to improve opera-
ensuring safe distancing on the up Industry 4.0 technologies, tional procedures and increase
work floor, and facilitating re- financial and leadership con- supply chain efficiency. Supply
mote collaboration. Regardless straints provide an opportunity chain systems are now connect-
of a company's current IT infra- to address these issues. Digital ed, thanks to digital transforma-
structure, use-cases relying on solutions that can help businesses tion, which can assist manufac-
digital work instructions, aug- flourish include: turers in gathering equipment
mented reality-based operator • Cloud and SaaS-based solu- data by utilizing AI and predic-
aid, and easy, affordable retrofit tions to outsource non-core tive analytics.
automation may also become in- tasks to reduce fixed costs.
creasingly common. Digital per- • AI-based computer vision The way forward
formance management (DPM) to reduce the cost of quality Global humanitarian issues
has also been a well-liked early checks and address defects. brought on by the COVID-19 ep- The Man-
use case at various businesses, • Big Data Analytics to mini- idemic demand a new kind of ufacturing
including numerous small pre- mize risk effects. cooperation to solve problems. industry has
cision engineering firms, where Organizations have the chance to reached an
unprece-
DPM pilots have helped increase Another emerging new-age tech reimagine a future with digitized, dented yet
productivity by 40 percent to includes predictive maintenance resilient operations as they re- unavoidable
70 percent. (PdM), which encompasses a start their operations in the new tipping point
According to a NASSCOM-Cap- wide range of approaches for de- normal. Early successes have with Indus-
gemini report titled, ‘India In- tecting early symptoms of equip- demonstrated that businesses try 4.0. In
the next two
dustry 4.0 Adoption: A Case to ment faults, allowing operators can begin to reboot and quick- years, there
Mature Manufacturing Digitali- and maintenance personnel to ly scale up if they commit to the is an urgent
zation by 2025’, Industry 4.0 can intervene before a breakdown transformation of Industry 4.0 in need to
help the Manufacturing sector occurs. PdM programs that are accordance with their business increase in-
contribute 25 percent of GDP by successful lower the need for environment and strategic goals. vestments in
digitalization
FY26, paving the way for India’s unscheduled maintenance in- The Manufacturing industry has and hasten
Manufacturing sector to become terventions. This lowers mainte- reached an unprecedented yet the deploy-
an intelligent industry. The nance expenses while increasing unavoidable tipping point with ment of an
boost will help India’s Manufac- output and throughput, espe- Industry 4.0. In the next two ROI-driven
turing sector achieve the nation- cially for assets that are capacity years, there is an urgent need to and out-
come-based
al growth target of US$1.1 trillion constrained. Furthermore, these increase investments in digita- strategy.
by FY26. programs can extend the use- lization and hasten the deploy-
ful life of high-cost components ment of an ROI-driven and out-
Digital transformation while lowering the chance of come-based strategy. Enterprises
with new-age tech machine failure. in the area should prioritize in-
solutions The key forces behind the vestments in new technology, Big
The Indian Industrial sector Manufacturing sector’s digi- Data Analytics, central and re-
has already started to pivot to- tal transformation are shifting mote-controlled monitoring, and
wards digitalization, thanks to consumer expectations and process automation over the next
increased investment in foun- fierce competition. Using digital 18-24 months. Scaling up existing
dational technologies such as technology, manufacturers may IoT and Cloud deployments to de-
the Cloud and IoT. By 2025, more increase speed and efficiency, velop new use cases and industri-
than two-thirds of India’s Man- cut costs, and provide superior al automation will require a mix
ufacturing industry will like- consumer experiences. The epi- of these new investments and
ly have adopted Industry 4.0. demic has made manufacturers innovations. Only then will the
Businesses will start focusing on more aware of their company’s Manufacturing industry be posi-
new business models and under- operational flaws and limita- tioned to capitalize on the avail-
standing that end customers ex- tions. For instance, they now able digital solutions and make a
pect new, intelligent goods. recognize the need to have ac- sustainable business impact.

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