Technology will play a key role in the era of industry 4.0, panellists said at the sixth edition of the CXO conclave organised by the South Indian Chamber of Commerce and Industry (SICCI) on Friday.
At the conclave on “Technology and Manufacturing — Trends, Policies and Perspectives” in Chennai, A. Sumathi, chief operating officer, Sterlite Copper, part of Vedanta Group, spoke about how there was digital intervention in every stage in the group right from raw material procurement, supply chain processes, operations and maintenance (which accounts for 60% of cost) to marketing.
Raghunathan Rengaswamy, professor of IIT Madras, said technology obsolescence cycle was rapid and one had to quickly adopt to it. He said there was no “one size fits all” solution and requirements differed for large and medium industries.
