As with any business, manufacturers constantly face a host of marketplace challenges. Currently topping the list are the hyper-competitive business models, ever-increasing regulatory burdens, expert workforce availability, reskilling and training requirements and costs, and the effects of global geopolitics such as tariffs and human rights concerns.
Not getting a whole lot of attention right now is mass personalization. It’s a concept that’s been around for years, and one which various producers have toyed with from time to time. (Remember custom-printed M&Ms? They’re still out there!) But it’s never really taken off in a big way, whether because of scalability, viability or both.
That may be changing, according to Sreenivasa Chakravarti, Vice President of the Manufacturing Business Practice at Tata Consultancy Services (TCS), a leading global IT services, consulting and business solutions provider. TCS is among the top three global IT Services brands, with offices in 46 countries, and more than 436,000 employees across 149 nationalities. Last year they delivered revenues of $20.9 billion. They’ve found that manufacturing is leading the move toward mass personalization – but that many producers are in danger of being left behind if they do not embrace digital technologies.