Factory of the futre is theme of CII Manufacturing summit

Mumbai, Nov 4 : Eminent industrialists from across the country will share their experience and vision for the factory of the future at a two-day 8th manufacturing summit of the Confederation of Indian Industry (CII) beginning here tomorrow.

The Summit would address ways to leverage the demographic advantage of the country and mould it into a new interface with machines and manufacturing processes.

Eminent management guru C K Prahalad of the Stephen M Ross School of Business University of Michigan would deliver the keynote address and set the theme for the summit tomorrow.

With the economic recovery slowly coming out of the globbal meltdown, companies need to rethink their strategies and go beyond lean manufacturing to draw out vistas of 'factories of the future'', CII said in the theme paper for the summit, which it said, would attempt to ''cull out the ‘India Way’ from cutting edge concepts to pitchfork our manufacturing sector to become a global hub.'' It said when the Indian economy comes out of the spectre of a global meltdown, things will not be the same as before and would have to face a different Market Dynamics and Value propositions.

''Considering that each job in manufacturing creates two jobs in related services, a concise strategic master-plan must emerge to keep India in forefront of the manufacturing world. At the center of this plan would have to be new manufacturing engineering, new business models and transformation in development of skill infrastructure to support world class manufacturing. Holistically seen, Factory of the Future must encompass all underlying ‘horizontal’ approaches applicable across a broad spectrum of Indian Manufacturing Industry in addition to sector specific action plans for Industry ‘Verticals’,'' the theme paper read.

--UNI

(c) 2009 Published with permission from United News of India.
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