Innovation the Key Driver in Future of Manufacturing in Asia/Pacific
IDC Manufacturing Insights reports in its latest infographic “Manufacturing – The Future” that product and service innovation continues to be the top business priority in Asia Pacific, thus driving key investments and decisions amongst enterprises.
The infographic, based on a recently concluded survey of 440 companies across Asia Pacific on recent trends adopted in manufacturing, provides a high level perspective on how technology is helping organizations and countries innovate for the future.
“Given the varying maturity level of technology adoption and priorities across Asia Pacific, each country in the region has its own innovation focus. As the governments, in partnership with private players, define the road map for their country, key themes start emerging,” says S Ramachandran, Principal Research Manager, IDC Manufacturing Insights Asia/Pacific.
“Smart manufacturing in the form of ‘factory automation’ drives China due to wage inflation. Singapore moves towards a ‘connected society’ where all citizens can be connected to the larger ecosystem for benefits ranging from health to productivity. India is going through an idea generation phase with initiatives like ‘Make in India’ pushing enterprises and the youth to go for innovation in manufacturing. In Australia, building an agile supply chain is at the forefront of innovation”, adds S Ramachandran.
According to IDC’s research, traditional Information Technology (IT) areas such as Enterprise Resource Planning (ERP) and Produce Lifecycle Management (PLM) continue to evolve as they share their workload with upcoming applications such as Enterprise Asset Management (EAM), Supply Chain Management (SCM) and the Innovation Accelerators – namely Internet of Things (IoT), robotics, 3D Printing, cognitive computing, next generation security and natural interfaces.
As all assets get ‘connected’ to the larger enterprise using IoT, closed loop feedback mechanisms get enabled, impacting several functions from the design of products to supply chain management. Collaboration becomes the norm, not just between departments and functions but even with external and global partners. The Innovation Accelerators will not help only in productivity improvements but in disrupting existing business models and creating new revenue streams.