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TTBS highlights imperatives of digitization for manufacturing sector and its emerging growth opportunities

 Tata Tele Business Services (TTBS), India’s leading enabler of connectivity and collaboration solutions for businesses, hosted CXO Round Table Discussion with industry leaders form the manufacturing sector on digital adoption and emerging growth opportunities. The discussion centered around the key technologies disrupting manufacturing sector, overall adoption of the advanced and affordable technologies to build in resilience and scale -up the growth quotient and make these manufacturing entities future ready.  CXO talk is an industry platform developed by TTBS wherein SME’s secure technological know -how, learn from industry leaders, gain ideas, and bring the community together for overall growth of the sector. 

Manufacturing sector in SME segment is not efficient enough to adopt advanced technology on account of lack of awareness, dynamic nature of digital technologies and lack of knowledge of inherent technological capabilities. But at the same time, digitization has become necessary especially post pandemic as the enterprises figure out new ways of manufacturing, building resilience in their supply chains and making their distributed workforce more secure and collaborate in more meaningful ways.  

Sharing his thoughts on the subject, Mr. Manish Singh, General Manager, Tata Teleservices said, “Digitization of manufacturing infrastructure has not only helped firms to be resilient at the time of COVID-19 disruption but is also preparing them for a sustainable growth in the future. Application of industrial IoT is the highest among manufacturing sector along with its subsequent connected industries such as transportation and logistics. At TTBS, we are holistically evolving the environment of manufacturing set-up in the country while providing niche tools integrated with advance technologies like IoT, AI and Cloud. We are helping manufacturing firms to gain high-scale automation, easy monitoring, operational efficiency and cost-effectiveness.” 

The Manufacturing sector is changing their business model to adapt to the changing demands of their customers. It’s clear that businesses need to be able to change as quickly as their environment does, yet the ability to adapt is only one factor of operational success. The key to delivering operational excellence lies in the way that businesses prepare for external change for fast adaptation, while ensuring that they deliver an exceptional experience to their customers.

Connected devices are the core requirement in the digital journey, and no single sector will drive this uptake more than manufacturing. The session saw industry experts from multiple domains- Mr. Neeraj Munjal, Director, Authentic packaging Pvt Ltd, Mr. Alessandro Giuliani, Managing Director, SDA Bocconi Asia Center, Mr. Anil Goyal, Founder and MD, CapSavvy Consultants Pvt. Ltd., Mr. Kaushik Chandra, Founder and CAO AtKonnect, Mr. Mayuresh Shilotri, COO, GreyAtom Edutech Pvt. Ltd., Mr. Gaurav Dubey, Founder, Home of Marketing

Mr. Neeraj Munjal, Director, Authentic packaging Pvt Ltd. said “In SME manufacturing segment bringing a change in mindset of the internal teams for digital adoption has been the biggest challenge.”

Mr. Alessandro Giuliani, Managing Director, SDA Bocconi Asia Center, said “Digital technologies are here to stay, as robust business models. There is a huge disruption, upskilling of employees to digitization and identifying the right set of solutions for the organisation is of key importance to remain competitive.”

Mr. Anil Goyal, Founder and MD, CapSavvy Consultants Pvt. Ltd. said “SMEs, inspite of initial resistance are now readily adopting technologies, but the complexity of solutions, security concerns etc become a hindrance in adoption and we require to educate the sector”

Mr. Kaushik Chandra, Founder and CAO  AtKonnect “Adopting digital technologies has been clearly a winning strategy in the pandemic, but sustainability is key and it is important to bring about change and enhance skills of the team”  

Mr. Mayuresh Shilotri, COO, GreyAtom Edutech Pvt. Ltd. said “Complete change in the business model from offline to online by adopting digital tools has helped education industry sustain in the new normal”

Mr. Gaurav Dubey, Founder, Home of Marketing said, “Data privacy is a huge challenge faced by SMEs in the digital space”

Key Takeaways: 

  • Digital Transformation in the manufacturing space will only accelerate as manufacturing entities become more digitally agile and adopt new age technologies like AI, Industrial IoT and Cloud. 
  • Companies will be focused on building more resilient and sustainable supply chains to optimize resources and become more cost efficient. 
  • Digital connectivity will gain centerstage as businesses will highly depend on this and will adopt tools that connect their employees, operations, inventory, machinery, and customers.  
  • Companies will make use of smart equipment, upskilling of employees to embrace digitization and identifying the right set of solutions will be of key importance.

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