Transformation of supply chains is key to the growth of manufacturing in India, especially with major reforms such as GST.
India is on the threshold of major reforms in manufacturing, one of them being the digital transformation of supply chain. Presently, the nation is home to more than 51 million SMEs that perpetually seek conforming ways of doing business to make it big. A sector so dense cannot flourish on traditional ways of business and should rather adapt to more agile, flexible, scalable, and smart manufacturing processes.
Manufacturing is no more only about mass production, but about new-age mass customisation and quick delivery. Digital can bring about this customisation and superior customer service through data collection and integrated supply chain management. A massive potential of our manufacturing hub remains untapped as almost 80% of supply chain of manufacturing companies is still running offline. While manufacturing generates more data than any other sector of the economy, there are hardly any companies in India that are harnessing this data for decision-making. Unfortunately, a major share of this data that can be used to refine complicated processes and better manage supply chains stays ‘red taped’ and away from the notice of CXOs.
This story is from the July 2017 edition of Indian Management.
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This story is from the July 2017 edition of Indian Management.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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