Manufacturing Excellence

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Submitted By arg53
Words 1380
Pages 6
18 MANUFACTURING

not Just a cog in the wheel manuFacturing excellence is increasingly guiDeD By the usage oF aDvanceD analytical tools that also equip Firms to Deal with challenges relateD to innovations, green practices anD regulatory compliance
N S Bala Senior Vice President, Manufacturing & Hi-Tech

Globally, manufacturing has become a key talking point in government and industry circles in view of its critical role in GDP growth and sustainable development strategies. However, the sector’s share of GDP has declined considerably over the years in advanced and emerging economies alike owing to the rapid expansion of the services sector. Today, manufacturing is staging a strong comeback, powered by renewed policy focus, adoption of new technologies and intelligent systems, market demand for higher-end manufactures, and rise of new global markets.

MANUFACTURING 19

Certain manufacturing segments are also adopting a services approach, which is a distinct breakaway from conventional manufacturing delivery. For example, Xerox is leasing out machines as a service. This approach spells a paradigm shift in the manufacturing sector’s strategic thinking. Over the next decade, manufacturing competitiveness, growth and development will increasingly hinge on the quality of inputs that go into the strategic planning. Towards this end, the importance of analytics can hardly be overstated. Analytics locates itself in the data that is related to the particular business. With the adoption of new network and communication technologies, companies have access to several terabytes of data about their customers, suppliers and operations. The amount of data in the

manufacturing world currently tots up to nearly 1 exabyte per year and growing exponentially (compared to nearly 434 petabytes for healthcare and nearly 619 petabytes for banking). However, manufacturing firms in…...

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