While 2020 was challenged by COVID-19, the global supply chain witnessed its ripple effects. The manufacturing sector, which contributes largely to a country's economic success, is mainly dependent on manpower for operations. The pandemic, however, threw open a new dimension of digitalization to create value for customers by enabling new-age technologies.
When a nationwide lockdown was imposed by the Government of India, many organizations were staring at this rude shock, but agile and nimble organizations were quick to adapt to new ways & means of functioning to stay afloat and ensure high employee morale. Manufacturers who had invested in digital technologies were able to take advantage of the situation and emerge out of this challenging situation, placing them in prima donna position.
As we move into 2021, manufacturing will witness a fundamental shift and change of business models. Many new technologies will pioneer the industry backed by digital-first approaches.
Digitalization will continue to transform the manufacturing industry, helping it stay wary of the future disruptions by plugging gaps across production, distribution and management. In an industry besieged by 'lack of connectivity', investments in digital will help create more data, provide for better insights around data and facilitate better decision-making, eventually enhancing productivity.