It is time for Indian manufacturing companies to develop unique dynamic capabilities that can propel it to global leadership positions in the Industry 4.0 era. Examine (200 Words)
Refer - Business Line
Enrich the answer from other sources, if the question demands.
IAS Parliament 4 years
KEY POINTS
· While production units and investment-linked performance initiatives are a good start, India should use this opportunity to link incentives to the adoption of modern manufacturing practices, including those that are today at the heart of Industry 4.0. This will help Indian manufacturing be globally competitive in the long-term.
· Industry 4.0 began as a national strategic initiative from the German government through the Ministry of Education and Research and the Ministry for Economic Affairs and Energy about a decade ago.
Dynamic technologies
· Industry 4.0 conjures up visions of robot factories sans humans, and technologies like augmented and virtual reality (AR/VR) to remotely control production lines.
· Before focussing on these cool technologies, Indian manufacturing companies will do well to get the foundational technologies in place. These include the Internet of Things (IoT), high-speed data communications, the cloud, and data analytics including, those that leverage artificial intelligence and machine learning.
· The traditional outside-in perspective of strategy based on product-market fit is inadequate in the current context and companies need to focus on the inside-out dynamic capabilities like combining digital technologies that power Industry 4.0, functional and organisational processes, and industry domain-specific requirements to power superior performance.
Innovative work practices
· India is now the pharmacy of the world. Imagine a pharmaceutical company that has the contract to manufacture a vaccine for Covid-19 for both domestic and exporting markets.
· One solution is for drug control authorities to generate unique numbers securely and in real-time, and transmit them to the printing and packaging machines on the vaccine assembly line. These unique numbers are printed on each vial. This process is entirely automated and there is no human in the loop.
Upskilling professionals
· All this is possible only when companies have a cadre of professionals that is capable of nurturing these dynamic capabilities to synthesise solutions that generate superior performance.
· India also has a large cadre of professionals who are well versed in all aspects of digital technology. This cadre is being upskilled on the latest digital technologies that are useful in the Industry 4.0 context.
K. V. A 4 years
Pls review
IAS Parliament 4 years
Good attempt. Keep Writing.
Shivangi 4 years
Please review. Thank you.
IAS Parliament 4 years
Good attempt. Keep Writing.
