Recent changes and growth trends in the global marketplace have created umpteen opportunities for players in the manufacturing industry to innovate. The traditional supply-based model of ‘produce then consume’ has been replaced by a scalable, flexible and reactive model that responds to the individual needs of the consumer. Thus, the need of the hour is a model can cater to needs of the customer in a manufacturing ecosystem focused on reducing waste and increasing customer satisfaction.
Manufacturing businesses do stand to benefit from the digital revolution although there may be disruptions at initial stage. The advantages which manufacturing players can get from digital revolution depends on whether manufacturers have the right culture, process, skills and technologies in place to capitalize on the opportunities that digital world presents.