Supply chain disruptions leading to insourcing of components in India

June 9, 2022 5:57 pm

When it comes to export markets we are definitely heading there but gradually. In the Middle East, we have a decent business. Likewise, we are expanding our footprints in the South East Asian markets as well.

Sreeramachandra Murthy K, President – Machine Tool Division at Lakshmi Machine Works Limited. speaks about the use of IoT and AI in the manufacturing industry and LMW’s international ambitions.

With the increasing penetration of artificial intelligence across different manufacturing sectors what kind of innovations are desirable in the machine tool industry? 

The new age machines are intelligent and are IOT enabled, coupled with AI they will become true self-monitoring units. We are already practising Production monitoring and condition monitoring or PMS and CMS as it is called. We are collecting huge data and started analyzing the same along with experiential knowledge to create predictive maintenance schedules and make AI algorithms

As you said AI is a work under progress, what do you think is the timeline for this development? 

For any kind of AI to work efficiently a huge amount of data is desired and IoT is possibly one of the best ways to assimilate this data. So, right now our focus is on collecting data which will allow us to build the base for AI which will be astute yet functional. When it comes to the timeline, at least two years will be required for the intensification of AI.

What kind of quality protocols do you have in place to ensure total quality control of your offerings? 

Our collaboration with the Japanese machine tool manufacturers helped us in the initial days and set new standards of quality control and it has embedded itself in the DNA of the company. All the critical parts are thoroughly checked. Likewise, all our products fall in line with ISO and other standards which ensure that they offer peak performance under different working conditions. To sustain this consistently, we have brought into play TQM (Total Quality Management), which encompasses not just processes but also our sales department. This allows us to maintain the consistency in quality of our deliverables and products 

When it comes to marketing footprint of your products is it primarily driven by India or other countries too? 

Our production capacity is focused on meeting both domestic and export demands. When it comes to export markets, we are definitely heading there but gradually. In the Middle East we have a decent business. Likewise, we are expanding our footprints in the Southeast Asian markets as well. As far as other countries are concerned, we will take a call depending on the kind of enquiries generated from them.

When it comes to manufacturing opportunities shifting from China to India what is your take? 

Post the first wave of Covid-19, when the markets started reviving and things started opening, there was a sudden boom in demand for an array of products we manufacture. Disruption in supply chain and logistics led to the Indian industry looking for insourcing of components and de-risking the business. Some demand has shifted, and we expect more to come by. The strength of India is smart manufacturing with excellent quality which should be leveraged by Indian companies.