A new report highlighting the challenges faced by the manufacturing industry reveals leading manufacturers are adopting innovative solutions including prescriptive analytics and other technologies to drive their growth. The report titled "The future of growth and the manufacturing industry" is based on a survey of 375 senior executives representing the automotive, food and beverage, machinery, steel, chemical and other industries. It reveals how disruptive technologies are being used to help leading manufacturers adapt to uncertainty and to meet changing customer demands.
One of the biggest crossroads that I faced a few years ago was whether to shift careers to the finance sector or not. I did my Bachelors in Mechanical Engineering and Masters in Manufacturing Systems (as explained in my previous blog). I then joined a software firm that specialized in Supply Chain, and my career has since then been in supply chain and related areas. Several of my class mates moved on from supply chain to do an MBA at some top-ranked school and then relocated to New York or San Francisco to be in the financial services sector (investment banking, hedge funds etc). I have resisted following this path mainly for one reason: supply chain (when it includes manufacturing activities) adds inherent value to the economy, whereas most financial services firms simply shift money around.