In this white paper, we highlight some obvious and some subtle changes that have been observed in the manufacturing industry and analyze whether these are temporary responses to business stimuli, or are more permanent in nature.
By virtue of our consulting engagements and client interactions, we have identified the following trends that are sweeping the manufacturing world today:
- “Consumerization” of Manufacturing: The industry is witnessing an increase in global transformation programs with leading manufacturers reaching out both formally and informally to end customers.
- Virtualization and Digitization: Companies are increasingly opting for virtual collaboration platforms to work with the globally dispersed supplier base, and using simulation, visualization and virtualization to understand the product behavior and performance under virtual conditions.
- Connected Supply Chain: A modern supply chain is absolutely essential and it plays a key role in the entire process, spanning the range from demand planning to co-innovation and product development.
- Complexity Reduction and Modularization of Business: To manage a complex set of products, processes and companies, manufacturing firms are looking for ways to simplify internal business operations while staying in touch with customers.
- Product Design, Material Science and Sustainability: There is a visible increase in use of materials that are high on performance, low on cost and even lower on carbon footprint. The application of next generation material science technologies on these breakthrough materials enables organizations to create significantly differentiated products.
- Next Gen Technology: Next Gen solutions are the new buzzwords and this is evident in the infotainment industry, where embedded electronics, telematics, mobility, telecom services and conventional engineering systems are converging to create compelling value propositions.
- Evolution of the manufacturing model: Large centralized manufacturing units have given way to a network of smaller modular factories, which are closer to centers of demand, placing pressure on logistics and supply chain optimization.
The next gen manufacturer would look very different from the kind we see today. Traditional businesses will not change, but the convergence of innovative technologies to change business processes and models will bring in greater agility.
A CIO Executive Viewpoint article based upon this white paper featured in the industry-acknowledged CIO Magazine. Read the complete article here.
TCS made a presentation on the 'Future of Manufacturing' at IDC Pan-European Manufacturing Executive Summit 2013 held at Amsterdam in November 2013. Watch this video.