75% of Indian manufacturers still grappling with Manufacturing 1.0 and 2.0 stages, says Greyhound Research

Greyhound Research recently conducted a survey of manufacturers in India.  About 75 per cent of companies in India are still grappling with Manufacturing 1.0 and 2.0 stages – a basic stage 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.

Only 25 per cent of the companies Greyhound Research polled are either planning or executing Manufacturing 3.0 and beyond. Companies are investing in systems of engagement such as a social media engine that helps better engagement with the customer, or with vendors.

Key Highlights of the study were:

Ø  75% of Manufacturing organizations in India are still grappling with Manufacturing 1.0 and 2.0 stages
Ø  25% manufacturing organizations in India are planning or executing components of Manufacturing 3.0
Ø  No manufacturing organizations in India are planning for organizations 4.0 or 5.0

"Automation should ho beyond just the Shop-Floor and investment In Intuitive analytics is a must to drive efficient production cycles. Manufacturers will heavily invest in technologies that not just automate their shop floors but in technologies that gather real-time insights from the market and the use these insights to plan for their production cycles. This will have many positive impacts on manufacturing from JIT (just in time delivery) to implementing e-platforms for smarter procurement of raw materials. This could also mean a system of insights or analytics," says Sanchit Vir Gogia, CEO, Greyhound Research.