We live in an experience economy. That calls for products which not only work but are designed exceptionally well. Are Indian manufacturers geared for this paradigm? We chatted with Chandan Chowdhury, Managing Director of Dassault Systemes India, and Sanchit Vir Gogia, CEO of Greyhound Research.
Greyhound Research recently conducted a survey of manufacturers in India. About 75 per cent of companies in India, it says, are still grappling with Manufacturing 1.0 and 2.0 stages – a fairly basic stage in layman words, or where a company already has systems of production and transaction.
Systems of production would imply IT systems that monitor supply-chain management and inventory management. Transaction systems include ERP.
And only 25 per cent of the companies it polled are either planning or executing Manufacturing 3.0 and beyond. That would mean companies investing in systems of engagement such as a social media engine that helps better engagement with the customer, or with vendors. It could also mean a system of insights or analytics.
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