Smart factories to drive new age manufacturing: Frost & Sullivan

The new era smart factories are now no longer cost centres and have evolved into profit centres

A recent white paper on 'Enhancing India’s Manufacturing Competitiveness' by research and consulting firm Frost and Sullivan says that the Indian manufacturing sector is on the verge of scripting a new chapter for itself and that information technology (IT)  has started converting conventional manufacturing shop floors worldwide into smart, safe and environmentally sustainable ones.

These new era smart factories are now no longer cost centres and have evolved into profit centres. "Smart factory refers to the smart environment which is closely and invisibly connected with sensors, actuators, displays and computer elements, all connected by a network. It is a single functioning mechanism, seamlessly coordinating every aspect of manufacturing. Smart Factories are characterized by their adaptability and efficiency, in addition to their ability to interact withcustomers and business partners," the report says.  

It further adds that the smart manufacturing process facilitates the flow of information about the manufacturing process whenever and wherever required as well as the form it is needed in across entire manufacturing supply chains and complete product lifecycles. Advantages of smart manufacturing include increased operational efficacy and worker productivity, increased equipment effectiveness, low technology cost owing to converged network, high flexibility due to real-time tracking of information on operation, inventory and supply chain, ease of customisation of products as well as low downtime.

Frost & Sullivan feels that the current political stability, renewed interest among global investors and new age policies has led to the reaffirmation of this sector’s potential.

While the growth of the manufacturing sector takes place, the paradigm change that is expected to be ushered in will be the induction of global manufacturing practices on a large scale.