Manufacturing Consultants Help You Navigate the Various Nuances of Production

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Manufacturing consultants help you navigate the
various nuances of production A laymans
perspective of running a business may be a
three-dimension approach a) an office setup and
administration to take care of the daily business
activities, b) a factory unit where goods are
produced, and c) a marketplace where the finished
products are sold at a profit. While these
elements give a broad idea of the different
aspects of business operations, there are several
other nitty-gritties that go into running a
profitable business. One of the key
considerations is whether to run your own
production unit or outsource the same.
Manufacturing consulting firms are proficient in
giving the appropriate guidance in this
matter. Manufacturing industry scenario Out of
Indias GDP of approximately 695 billion in the
first quarter of FY22, the manufacturing sector
accounted for nearly 77 billion. India is
well-positioned to become one of the most
sort-after global manufacturing hubs by 2030 with
an estimated annual contribution of 500 billion
to the global economy. The countrys
manufacturing sector may touch 1 trillion by
2025 and count for 25- 30 of the countrys GDP.
Potentially around 90 million people can be
employed in this sector by 2025. As per the
Department for Promotion of Industry and Internal
Trade (DPIIT) FDI in manufacturing subsectors
crossed 100 billion between April 2020- June
2021.
Why does the manufacturing sector require
consulting? The massive growth trajectory of the
industry inevitably means extreme competition.
Expert advice is needed at every step of your
business journey to prevent avoidable mistakes
and loss of time and helpstay ahead of the
competition. -gt Staying abreast with updated
technologies and advising clients on new
production strategies.
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-gt To advise on the right balance between
producing all the components in-house or
outsourcing part of the process. -gt Sourcing
superior quality raw material at a cheaper
cost. -gt Effective manpower sourcing and
management. In spite of significant technological
advancement in the last couple of decades, the
sector still remains manpower-intensive. Hence,
theres a constant need to monitor and upskill
the workforce to increase productivity. -gt
Increasing adoption of lean manufacturing
practices that optimise inventory management.
Modern manufacturing consulting firms have
tangible expertise in this domain that can have a
massive impact on your working capital
requirement. The phenomenal industrial growth
has triggered many consultants to turn their
attention to the manufacturing industry.
Selection of the manufacturing consultant has to
be done carefully to reap the maximum benefits.
Industry Experts has a reasonable network of
consultants with wide exposure and varied
industry and domain experience who can
rationalize the business decisions, thus, turning
a dream project into a successful venture.