TECH BYTES – Monthly Tech Industry Bulletin – March 2021

This monthly industry bulletin is our endeavor to aggregate and feature on a regular basis, key trends and insights shaping the technology sector. The information covered here is collated from publicly available sources and gives a bird’s eye view of what has happened in the technology sector during a particular month.

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Key Findings

State of ManufacturingTech during COVID-19

During COVID-19, several challenges impacted Indian manufacturing, including zero demand visibility, idling capacities, procurement disruptions, and more so, worker migration, limited local talent, and safety concerns on restarting operations.
Real-time visibility turned out to be the biggest challenge. Procurement was blind-sided due to limited visibility and concentrated sourcing, as most supply chains still lack full digitization and hence tracking is impossible. Supply chain track and trace depends on use-case based adoption.

Measures adopted by manufacturing companies

Traditional equipment and production processes were integrated with IIoT that reduced costly failure of production lines and ensured more data-based real-time decisions
Labor-intensive organizations adapted to use of process and industrial robotics that resulted in an efficient, agile, scalable, and less-risky way to keep processes running

Technology playing a key role

Manufacturing units that had already started generating machine data experimented with AI-based deep learning algorithms to enable predictive maintenance and procurement
Advanced manufacturing setups took to the idea of technology convergence by integrating inbound and outbound logistics with in-plant operations for end-to-end visibility
Value chain entities started experimenting with Blockchain and decentralized ledger technology (DLT) to create immutable transactions, particularly in the areas of commodity trading, pricing, and contracts

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