The percentage impact is not identical across the industry but varies at different levels for different manufacturers (discrete, process, repetitive manufactures, etc..)
Most of the Manufacturing leaders are bracing for further impact and are very clear that they must move forward towards a recovery phase at the earliest, which requires a paradigm shift of focus from not only shoring up at this stage but also creating a long term strategy to drive business resiliency and be prepared for any future uncertainties that may arise.
Manufacturers will require new capabilities to bounce back quickly and get back to the original or improved state to meet both short-term and long-term requirements. This cuts across the entire organization, starting right from their internal operations to design, procurement, production, quality, services, and across the whole supply chain network to preserve business continuity and consistency of product supply in an event of short and long-term disruptions.
To meet these strategic requirements, it is evident that a data-led digital transformation approach becomes a front runner amid this pandemic which has accentuated the importance of digital technologies in the pursuit of Industry 4.0, connected supply chain, and automation at various levels.
This story is from the June 2021 edition of Manufacturing Today.
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This story is from the June 2021 edition of Manufacturing Today.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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