India manufacturing inc charts digital priorities

Economy


An EY study titled Will the Next Transformation in Manufacturing be led by Digital? two-thirds of the manufacturing firms in India ranked big data and predictive analytics as the top investment priority in technology in the next 1-2 years. This was followed by sensors and Industrial Internet of Things (IIoT) and cloud/integrated platforms along with robotic process automation.

“Concepts such as Industry 4.0 and Smart Factory, which interconnect the shop-floor ecosystem through emerging technologies, are now a reality. Digitisation continues to transform manufacturing processes around the world leveraging technologies such as IIoT, artificial intelligence, advanced robotics, etc,” said Ashish Nanda, EY India Supply Chain Leader. The key factors driving digital manufacturing in India include predictive maintenance, connected supply chain, reduced energy consumption, production optimisation, lower price of sensors and high computing needs and connected customers. However, it is still early days. “Going by the success stories though, it is perhaps essential for manufacturing organisations in India to first understand and then embark on this digital transformational journey to remain competitive and attain world-class status,” he said. The study is based on interactions with about 50 leaders of large manufacturing organisations.

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