Manufacturing is all about the conversion of the bounty from moth-er-earth to the end usage-product for human being. This value-adding journey in the supply chain is currently going through an unprecedented rough-terrain of COVID-19 crisis but is definitely going to transform itself to a much more robust chain tomorrow. This transformation process in the next few years is going to be challenging but would have useful deliverables.
CHALLENGES
The burst of COVID-19 pandemic in India has severely impacted the entire manufacturing supply chain and is going to have long-term implications. The pandemic has led to a near-zero / low market demand, fractured logistics, tight finances for MSME, huge job losses, scant workforce after their migration, changed consumption behaviour, safety and health anxieties, uncertainty in the consumer’s mind-set and many more hardships. Such crises always throw up opportunities. The gradual transition from crisis to transformation is bound to manifest itself. The Indian leadership is talking about creating more than 50 percent value-add in the ecosystem by producing in-house. Core self-sufficiency value chain models are being explored. Many believe and also wish that India will evolve as one of the preferred centre for manufacturing products in the Asian continent. The factory of China is definitely under the radar due to the de-globalization murmurs amongst the world industry-leaders and key policy decision-makers.
An attempt has been made to share a few transformational elements in the top five dimensions of the manufacturing supply chain.
SOURCING
This story is from the June 2020 edition of The Machinist.
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This story is from the June 2020 edition of The Machinist.
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