Worldwide, manufacturing operations were poorly hit during the global pandemic. Nevertheless, COVID-19 also turned out to be a pivotal moment for the industry. Leading players are bringing about some radical changes, including smart manufacturing, to redefine value chains and remain resilient during crises. Even before the pandemic hit, industry 4.0 had been bringing sweeping changes across manufacturing functions. With COVID-19, manufacturing organizations were compelled to deal with the new realities, which are vastly different from the old normal. To stay ahead of the competition and stay relevant in a highly volatile market, manufacturers must remain agile, make their supply chains flexible and resilient and adopt digital technologies in unprecedented ways.
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Source – Dataquest