Tata Consultancy Services (TCS), in association with Harvard Business Review Analytic Services, has released a new thought leadership report, ‘Manufacturing Next: Intelligent, Agile, Automated, and Cloud-Enabled’ that brings together insightful perspectives on the nature of the digital transformation that manufacturers are going through.
The report draws qualitative insights from academic experts who specialize in manufacturing, leading manufacturers, and analyst reports. According to the report, manufacturers have shifted focus from operational efficiency to customer centricity and lifecycle services, from traditional products to smarter ones, and from conventional B2B approaches to a more involved B2B2C model. It goes on to say that this shift requires an appetite to embrace the risk that comes with disrupting the business, significant investment, change management, and new skills and talent. Leading manufacturers are embracing digital transformation and updating their business models to stay ahead of competition.
“As traditional manufacturing firms get ready to battle with new age businesses, there is a need for them to reconstruct the traditional linear value chain into an integrated collaborative ecosystem model,” said Susheel Vasudevan, Global Head, Manufacturing and Utilities Business Group, TCS. “As a partner to some of the world’s leading manufacturers, including several Fortune 500 enterprises, we are seeing this change from close quarters as we participate in their transformation and help them embrace technology-led business innovation. The TCS Business 4.0™ thought leadership framework is acting as a beacon, providing guided redirection of energy to embrace risk, and balance the business models to achieve targeted outcomes.”