Forbes - 17 Oct 2019
As with any business, manufacturers constantly face a host of marketplace challenges. Currently topping the list are hyper-competitive business models, ever-increasing regulatory burdens, expert workforce availability, reskilling and training requirements and costs, and the effects of global geopolitics such as tariffs and human rights concerns.
What is not getting attention right now is mass personalization. Though it’s a concept that’s been around for years, and one which various producers have toyed with from time to time, it has never really taken off in a big way, whether because of scalability, viability or both.
That may be changing, according to Sreenivasa Chakravarti, VP of the Manufacturing Business Practice at TCS, where they have found that manufacturing is leading the move toward mass personalization, but that many producers are in danger of being left behind if they do not embrace digital technologies.
“One of the things we’ve been looking at is how industry is shaping up, given the commoditization of manufacturing,” Chakravarti said. “How are producers identifying differentiating competencies? The best ones are re-looking at their own businesses and identifying adjacent capabilities. They realize there are much bigger business opportunities out there.”
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