How Indian equipment manufacturers can ensure quality, cut costs, and still stay competitive.
This is good time to be in the manufacturing industry. Market demand is soaring for all the verticals in this space -white goods manufacturers, defense production, industrial equipment manufacturers, automotive, and automotive component manufacturers.
The flip side is that pressures are also mounting. Market requirements and buying patterns are changing, and customers are continuously calling for 'more variety, more often'.
While the number of new products per year has doubled, the volume of bulk products has halved - setting up a situation where a manufacturer's biggest challenge is how to get his new product to the market FIRST. Also, the fierce competition means that new products must be continuously fed into the market to retain brand mind share.
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