Q&A: How Manufacturing Companies Can Overcome Present Industry Challenges

Introduction

As the manufacturing landscape evolves, companies face pressing challenges with technology adoption, standardization, data management, and IT infrastructure. From supply chain disruptions to changing consumer demands, companies must proactively find digital solutions to overcome obstacles hindering growth and success.

Several Indian manufacturing companies are expected to embrace the Industry 4.0 era. However, not all manufacturing companies will be transformed by equal magnitudes. The challenge of human labor and technology adoption is widening the gap between large, medium, and small-scale manufacturers. In this article, we discuss with Joyjeet Bose, Senior Vice President, Tata Tele Business Services, on how digital transformation is helping companies in the manufacturing industry.

# How is digitization transforming the manufacturing ecosystem?

Globally, cutting-edge technologies enable manufacturers to understand customer demands, create new products and enhance product quality. Digital twins allow manufacturers to simulate and test new product designs before production, reducing the risk of errors and improving product performance. Manufacturers are leveraging AI-powered systems to help analyze vast amounts of data generated by business processes to identify inefficiencies and optimize production. With the tremendous volume of data in manufacturing, big data analytics is helping manufacturers gain insights into customer preferences, market trends, and supply chain performance, enabling stakeholders to make more informed decisions about production planning and inventory management. Finally, robotics and automation are transforming manufacturing operations, allowing manufacturers to automate repetitive and dangerous tasks, increase productivity, and improve overall safety.

# What key domains should SME manufacturers focus on in the near term for greater adaptability and scalability?

The three key domains manufacturers must focus on in the near term are cloud, IT infrastructure, and cyber security. By transitioning to cloud-based solutions, manufacturers can access critical data and applications from anywhere, at any time, and on any device, enabling them to be connected and responsive to market demands. The IT infrastructure, including network, storage, and computing resources, is critical to supporting manufacturing operations; therefore, by investing in robust IT infrastructure, manufacturers can ensure their operations are reliable, secure, and scalable. Finally, cyber security is paramount for manufacturers. With the rising threats and security events in recent years, manufacturers are increasingly susceptible to cyber threats. By implementing robust cyber security measures, manufacturers can protect their sensitive data and intellectual property, as well as their operations and supply chain.

# What opportunities can digital transformation unlock for Manufacturing companies?

Digital transformation can unlock several opportunities for manufacturing companies, including new revenue streams, business models and up to 25% increase in efficiency and productivity. Digital transformation can facilitate connected sensors and devices and advanced analytics tools to monitor machines, processes, and products in real-time, enabling stakeholders to identify and address issues before they become critical. As a result, digitization can help manufacturers to optimize production, reduce downtime, and ultimately lead to cost savings and increased profitability. With the capacity to collect and analyze vast amounts of data on customer preferences, manufacturers can go to market with newer products that meet specific customer needs resulting in stronger customer relationships.

# How can manufacturer companies develop a robust digital strategy to future-proof the business?

A robust digital strategy can help manufacturing companies achieve a more significant competitive advantage, position them for long-term success, and help them hold the edge in an increasingly digital world. To future-proof the business, SME manufacturers must develop a robust digital strategy that includes a comprehensive digital roadmap identifying the business requirements, mapping the business processes and systems, and prioritizing the areas where digital transformation can deliver the most value. In addition, the strategy must measure the impact of digital transformation initiatives to ensure that manufacturers strategically leverage digital technologies and gain maximum value to stay relevant in the rapidly changing marketplace.

Digitization across the manufacturing value chain can significantly benefit production efficiency, quality control, supply chain management, and customer experience. However, digital transformation is not a one-time event but an ongoing process that requires continuous investment and improvement. As the industry moves towards Industry 4.0, manufacturers must embrace emerging technologies such as artificial intelligence and digital twins to unlock more value and stay ahead of the curve. The future of the manufacturing industry is exciting, with endless possibilities for those willing to embrace digital transformation and adapt to the changing landscape. The imperative for digital transformation in the manufacturing industry is clear, and those who act now will reap the benefits in the future.

BIOGRAPHY

Joyjeet Bose

Sr. Vice President, Tata Teleservices

Joyjeet Bose heads the SME Operations and is responsible for overall SME business development and revenue market share growth.

Joyjeet has been a part of the core team involved in setting up the Tata Teleservices - Enterprise Business in India, heading multiple functions in corporate office covering Sales Strategy, Business Enablement & Solutions, Service Delivery and Management. Prior to the enterprise role, he was heading circle consumer business for mobility. Joyjeet has more than two decades of experience in Enterprise and SME business.

In his previous assignments, Joyjeet has worked with Hexacom India Ltd (Oasis Cellular), Bharti BT Internet Ltd and Worldwide Technologies Ltd, where he was responsible for overall business growth.

Joyjeet is an alumnus of the TATA Group Executive Leadership Program.