Here's How Technology Changes the Manufacturing Industry
- BY Jaspreet Kaur
Feature Writer, BusinessEx
- Feb 16,2021
- 14 Mins Read
The manufacturing industry accounts for a major share of the Indian economy. The sector has exponentially grown in recent years thereby, accounting for 78 per cent of total industrial output, according to a report by Trading Economics. As time is unfolding, new things are disrupting the manufacturing sector and concoctions of tech-enabled manufacturing solutions are emerging.
The Indian manufacturing sector is a massive realm and encompasses a series of sub-industries within it. As per the cited report, the manufacturing segment has various sub-segments within it, that are: basic metals (13 per cent of total production), coke and refined petroleum products (12 per cent), chemicals and chemical products (8 per cent), food products (5 per cent), pharmaceuticals, medicinal chemical and botanical products (5 per cent), motor vehicles, trailers and semi-trailers (5 per cent), machinery and equipment n.e.c. (5 per cent), other non-metallic mineral products (4 per cent), and textiles, electrical equipment and fabricated metal products (3 per cent each).
The novel industrial revolution that has disrupted the manufacturing sector encompasses a variety of new things--Industrial Internet of Things, Robotics, Internet of Thing, Artificial Intelligence, and Machine Learning, to name a few. By infusing these technologies, the manufacturing industry that holds a large share in the country’s economy will help achieve a $5 trillion economy. By blending the production process with manufacturing, companies would be able to perform smart manufacturing.
To enable smart manufacturing, manufacturing businesses in India will have to adopt these latest technologies into their business.
Industrial Internet of Things
IoT plays a vital role in digital transformation. Also, it acts as an important disruptor. To implement it, a manufacturing business has to comprehend the underpinnings of IoT. Across the globe, manufacturing businesses are employing it due to its minimal cost of hardware as well as software components such as cloud computing and sensors.
The components of the IoT assemble important information from various divisions of the manufacturing units such as vendors, suppliers, business environment and third-party companies, etc.
To increase production and sustain in the long run, small manufacturing units must embrace automation. By procuring AI-enabled machines, the manufacturing process not only becomes more fast and effective but enhances production and brings ease to the work.
Manufacturers can utilize the latest technology to optimize operations and also, cut down manual labor involved in logistics as well as supply chain. Robotics can also be employed in the business as they will help move materials, packing and scrutinizing them. Such work is repetitive and does not require human interaction. By involving robotics in this task, a chunk of the cost would be cut.
Another additional benefit of robots is that they can easily work with the human workforce. Initially, they will require direction and understanding of the work. After that, they become efficient in production, operations, and other related tasks. They can be easily trained and thus exhibit as highly competent in the work culture.
Big data is immensely used in almost every field including the manufacturing segment. By employing big data in the manufacturing business, significant business moves can be taken as the data would be refined. This data is primarily garnered from several sources-- vendors, employees, and customers, to name a few.
Thus, big data is considered to be highly employable for manufacturing businesses as it spikes efficiency and improves business processes.
These reasons showcase how manufacturing businesses are changing with time. The Indian manufacturing industry is still in the process of implementing these technologies. It is yet to see how the sector evolves when implementing technology becomes a prerequisite in the long run.
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