Frost & Sullivan to Honor Innovators Ready for the New ‘Smart Manufacturing Ecosystem’.
Frost & Sullivan ‘India Manufacturing Excellence Awards 2018 (IMEA)’ will be held on December 6th, 2018 at Hyatt Regency, Mumbai. Bringing in a global framework of mapping excellence, over the years Frost & Sullivan has recognized and honored companies that set industry benchmarks through its India Manufacturing Excellence Awards.
With an assessment of over 700 manufacturing units, Frost & Sullivan is all set to assist in improving the manufacturing process of companies to help in enhancing India’s competitive manufacturing advantage. This year the ever evolving assessment model has Smart Manufacturing elements incorporated in the process to provide meaningful insights to factories on their path to Industry 4.0.
Talking about this edition of IMEA, Nitin Kalothia, Director, Manufacturing & Process Consulting Practice, Frost & Sullivan said, “The next generation factories will be “Smart” in addition to being efficient and competitive. Operational excellence tools have helped organizations become lean, flexible and agile and IIOT will make factories Smart. Digital Transformation of factories and supply chains has started across the globe and is accelerating every single day. To drive digital transformation of manufacturing companies in India, Frost & Sullivan has upgraded its manufacturing excellence framework and launched “Smart Factory” Awards. Through this platform, Frost & Sullivan aspires to enhance awareness of IIOT in the country and drive its adoption”.
The assessment model’s element of Smart Manufacturing is evaluated as per Frost & Sullivan’s IIOT readiness framework consisting of 11 core pillars that are being adopted by manufacturing companies globally in their journey to be digital ready. The assessment will focus on adoption of these 11 core pillars in a manner that helps improve organizational performance. This year’s prime highlights will be the new parameters in the assessment model:
• DIGITAL MANUFACTURING: Companies will be assessed and given inputs on leveraging digital tools to drive operational excellence
• SMART FACTORY AWARDS: Companies will have a choice to opt for “IIOT Readiness” assessment in addition to IMEA assessment
• SECTORAL SPECIFIC CUSTOMIZATION: Companies will be given a self-assessment docket and assessment guidebooks customized to address sector specific challenges and constraints.
The overall winner will be recognized as the “Indian Manufacturer of the Year”, followed by the 1st Runner-up. Frontrunners from the industry sectors will be honored with the titles – Future Ready Factory of the Year Platinum, Sector specific Awards, Consistency Awards and Gold Awards.
Frost & Sullivan, the Growth Partnership Company works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today’s market participants. For more than 50 years, they have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community.
Source: Business Wire India