Mentors
INSIGHTS ON DIGITAL TRANSFORMATION
ASHISH PANDEY
DIGITAL & TECH HEAD INDIA SUBCONTINENT || CIO || CDTO GLAXOSMITHKLINE PHARMACEUTICALS LTD
The manufacturing industry has started picking up significantly in overall digitalization.
Real value cases and bringing them to life is something the industry has started looking into.
Leadership and its vision are going to create a remarkable difference. Taking risks and looking at long-term value realization at times have to be taken as a bet when balancing COGS is a definite imperative for overall organizations.
COVID has accelerated the journey and technology investments. Endorsement from the board has become less challenging because the overall value of technology is well established.
The advent and usage of blockchain are going to play a significant role in supply chains (SC) and manufacturing. The industry should be ready to embrace new ways of working in the coming years
MR. ATANU PRAMANIC
JOINT PRESIDENT & CIO HINDALCO INDUSTRIES LTD.
For a successful digital transformation, a leader acts as an “enabler” who delivers end-to-end business requirements with the sole purpose of customer satisfaction and business growth. Taking a system perspective is critical for leaders, as digital transformation is not limited to a single organizational function.
For example, introducing a Coal Value Chain system may impact the entire lifecycle of the manufacturing production line and other key operational areas. It mandates functional alignment across various organizational functions to avoid silos between new and legacy technologies.
There is always new software, algorithms, computing languages, online standards, and protocols being developed. Hiring skilled resources in the digital transformation space is always a challenge. A large percentage of IT professionals have limited to no digital skills. It’s not a stretch to assume that some potential employees are not digitally literate.
Businesses should also find ways to reward and promote advancements in digital literacy within the organization. This could be as simple as providing short courses and learning opportunities. Ignoring technology can lead to falling behind and irrelevance in a competitive business environment.
According to a study conducted by a global consultancy firm, India is digitizing faster than any other country. Our country’s Digital Adoption Index covers three key elements: digital foundation (cost, speed, and reliability of internet service), digital reach (number of mobile devices, app downloads, and data consumption), and digital value (how much consumers engage online through chatting, tweeting, shopping, or streaming).
India has emerged as the second-fastest digital adopter among seventeen major digital economies. As digital capabilities improve and connectivity becomes omnipresent, technology is poised to quickly and radically transform nearly every sector of India’s economy— including Agriculture, Healthcare, Retail, Logistics, Government, Business, and Individuals. This shift is expected to generate significant economic value and reshape the nature of work for tens of millions of Indians.
Digital transformation in manufacturing means enhancing traditional manufacturing processes, products, and workforce with digital technologies such as automation software, eCommerce, sensors, industrial robots, and more. Leading manufacturers are now realizing significant value from data and analytics, AI, and machine learning (ML). However, a large majority remain stuck in “pilot purgatory,” struggling to capture the full potential of their transformation efforts or deliver a satisfactory return on investment.
Industry 4.0 is already influencing sectors like manufacturing, supply chain management, construction, shipping, etc., and shall impact all aspects of our day-to-day activities. The Fourth Industrial Revolution, Industry 4.0, was triggered by high-tech innovations that brought cyber-physical systems together—i.e., smart machines capable of exchanging real-time information over the Industrial Internet of Things (IIoT) for decision-making processes.
Industry 4.0 encompasses various modern technologies like Cloud Computing, IoT, Artificial Intelligence, Big Data Science, 3D printing, 5G, Drones, and Communications, all leveraged to enhance productivity in manufacturing processes. However, there is often a genuine challenge for practitioners to define the problem statement. Many manufacturers decide to deploy technologies without a concrete understanding of the problem they are trying to address. This uncertainty about the benefits leads them to under-strategize the actions required for successful technology deployment.
SHARAD KUMAR AGARWAL
CDIO J.K TYRES & INDUSTRIES LTD
It’s been a rollercoaster journey for everyone involved in Digital Transformation, especially during the difficult times dictated by the pandemic.
It began with a conserving mode and gradually grew into a storm of new technology adoption enabling business growth. After the tremendous volatility of 2020, some dust has settled in the manufacturing sector, but that doesn’t mean things are back to how they were before the pandemic.
With a desire to boost operational agility, the manufacturing industry looks for solutions to make itself disruption-proof.
Manufacturers can adapt to the pandemic’s disruptions and establish resilience that will help them prosper by continuing to engage in digital projects across their production process and supply network. They must also get closer to their customers and use tech-enabled, distributed production solutions.
Smart autonomous systems capable of self-cognition, self-optimization, and self-customization are part of Industry 4.0, or the Fourth Industrial Revolution, pushing manufacturing automation to a new level.
Automation and robotics are crucial components of Industry 4.0—acting as the arms and legs; cameras and other sensors function as senses; data and connectivity form the nervous system; and artificial intelligence (AI) serves as the brain. This paradigm shift is radically transforming how we work, live, and interact.
Compared to developed countries, India’s adoption of new-age technologies has been somewhat slow. Some of the biggest deterrents to digital transformation adoption include:
Lack of awareness about business impact
High costs of effective solutions
Limited capital and talent availability
The customer experience is evolving rapidly, with the pace of change accelerating due to the pandemic. A key emerging trend in this dynamic landscape is that customers today WANT & EXPECT a full-service experience.
SUDHAKAR SHIVASHANKAR
DIGITAL HEAD CAVINKARE PVT. LTD.
Role of Leadership and Skill Level
Digital businesses need to focus on building deeper relationships with customers to stay relevant in this competitive realm. As the stiffness to create a market dominance in the digital space grows with every passing day, only a higher customer retention rate can help companies thrive on profitability.
“The key is when a customer walks away, thinking, ‘Wow, I loved doing business with them, and I want to tell others about the experience.'”
This quote from consumer experience expert Shep Hyken says a lot about building stronger relationships with customers and thinking of transactions later.
Leaders need to re-strategize their execution models and put customers first to bring a massive change. That’s what will drive profitability and growth that’s sustainable.
Modern Technology: The Most Influential Catalyst
Modern technology is the most influential catalyst for individuals to amplify their leadership impact like a ripple effect. Through modern advancements, leaders can become multi-disciplinary by having firm control over processes to grow the business.
Leveraging technology helps leaders hone their teams’ analytics and performance management and improvise strategic planning. The change in leadership roles is omnichannel through technology, as it helps leaders make data-driven decisions.
Technology is changing the roles of leadership in multiple ways, such as:
Leaders can forecast their organisation’s growth orientation to get ahead of the competition.
It empowers leaders to make more audacious decisions to drive innovation.
Technology offers more opportunities and tenacity to lead multiple departments through automation.
The Most Exciting Technologies That Can Be Adopted Towards DX to Revolutionize Indian Manufacturing
When it comes to IoT and AI, most people think that growth is a one-day event. They see the potential for these technologies and assume that they will achieve the same results as early adopters. This can’t be farther from the truth.
The growth and implementation of IoT and AI is a gradual process that happens over time. It’s important to be realistic about the expectations. These are evolving areas that will continue to change over time. Constant reiterations, evolution, and refinement will be required. And of course, scaling is also something that requires time.
Some enterprises may not be able to leverage these technologies if they haven’t got the right team in place. While some might not yet have the right process alignment or governance framework.
As the market matures and more businesses enter, expect things to get even more competitive in this space. If you aim for growth in the long run, apply, fail fast, and reapply. That is the only way to go. Growth is about incrementalism. Not overnight success stories!
As the world embraces technology more thoroughly, businesses are looking at digital transformation to:
Accelerate growth
Achieve a competitive advantage
Transform the industry
This demands complex software systems, complex processes, and the right people to execute the plans efficiently.
Governance in Digital Transformation
Many large enterprises, who plan to drive digital transformation, ensure they have a governance framework in place. Governance is about establishing the right technology strategy and aligning teams around the same vision. It is about defining milestones or KPIs for each project you undertake or implement at your organization. Governance ensures that everyone involved in the project is on the same page with:
Reduce risks dramatically
Build new visibility and insights across the organization and into the future
Accelerate operations
Devote more time and energy to customers and growth opportunities rather than frustrating and low-value remediation projects
Increase the chances that their digital transformations will drive superior business outcomes
Technology updates and new releases bring many moving parts to manage, making governance increasingly important if your organization needs to get maximum value out of every penny they invest in digital transformation projects.
According to Forbes, by having the right governance system in place, companies can:
“Protect digital transformation processes.”
Automation is a terrific tool. But automation and governance together provide a fool-proof system for accelerated growth.
Other Dimensions
Inclusion, appreciation, and resourcefulness—these three are the core accelerators that offer impeccable growth to an organization.
An organization’s success is defined by how its team members feel when they step into the workplace. Do they feel stressed, anxious, or super-productive to tackle any business challenge coming their way?
The core of successful teamwork boils down to one thing—do your employees feel included when a crucial business discussion is going around?
“If everyone is moving forward together, then success takes care of itself.”
VISHAL PATIL
GM- IT & AUTOMATION SERUM INSTITUTE OF INDIA PVT. LTD
Role of Leadership
Digital transformation requires that the people, processes, and technology within an organization align with the desired end goal in order to achieve the greatest success. Additionally, these areas need to be set up to continuously improve and adapt after achieving the initial goals of the transformation initiative.
If leadership is committed to leading companies smoothly through its digital transformation and toward permanent adaptation, then CxOs should look at four essential tactics for greater success by implementing:
Stay adaptable.
Know your company inside and out.
Take a holistic approach to digital transformation.
Lead by example.
In the end, leading a successful digital transformation is more about taking the right actions than choosing the right technologies.
Skill Level
Digital transformation is not limited to digitizing business processes and making additions to the technology portfolio; it calls for implementing new ways of learning and leading, fostering a culture shift, and aligning strategy, talent, and resources across the organization.
DX is a change process that demands a unique vision, perspective, and set of leadership skills to be successful.
Current Digitalization Scenario of India
At present, the trend of digitalization in India focuses on three key areas in view of the Vision of Digital India:
1. Digital Infrastructure as a Utility to Every Citizen
High-speed internet as a core utility.
Cradle-to-grave digital identity – unique, lifelong, online, and authenticable.
Mobile phone & bank account enabling participation in digital & financial space.
2. Governance & Services On Demand
Seamlessly integrated across departments or jurisdictions.
Services available in real-time from online & mobile platforms.
All citizen entitlements to be available on the cloud.
Services digitally transformed for improving Ease of Doing Business.
3. Digital Empowerment of Citizens
Universal Digital Literacy.
Universally accessible digital resources.
All documents/certificates to be available on the cloud.
Availability of digital resources/services in Indian languages.
Expectations from Digital Transformation (DX) in the Manufacturing Industry
My view on Digital Transformation in Manufacturing involves integrating digital technologies into processes and products to increase manufacturing efficiency and quality. Expectations are mentioned as pointers:
Improved automation and smart manufacturing.
Enhanced supply chain efficiency through real-time tracking.
Predictive maintenance using IoT and AI.
Data-driven decision-making for better production management.
Increased adoption of robotics and machine learning.
Development Post COVID-19
During the pandemic, consumers moved dramatically towards online channels, and companies and industries responded in turn. The rapid shift towards interacting with customers through digital channels has been evident.
Post COVID-19, businesses are:
Looking at technology as a key enabler for engaging with customers.
Allowing workplace flexibility through digital tools.
Introducing automation for faster processes and improved efficiency.
The Most Exciting Technology That Can Be Adopted Towards DX to Revolutionize Indian Manufacturing
Big Data Analytics can offer several ways for improving asset performance, streamlining manufacturing processes, and facilitating product customization.
Internet of Things (IoT): The capabilities of the IoT are rapidly being implemented in industrial and manufacturing domains, providing plant owners with a way to increase productivity and decrease the complexities of processes.
Virtual Reality (VR) is simplifying the product design process by eliminating the need to build complex prototypes.
AI and ML seem to be the next wave in manufacturing. AI is helping production teams analyze data and use the insights to replace inventory.
Reduce operational costs and offer seamless quality control over the entire manufacturing process.
Other Dimensions:
Empowering employees
Engaging customers
Optimize operations
Services and products
Sparrow Dedicates this year Research Insightto the Innovator who Changed the DigitalWorld Forever.
Steve Jobs ( 1975 - 2011 )
Founder Apple , Pixar & NeXT
– Steve Jobs