Challenges in Manufacturing Industry
Click here to load reader
Transcript of Challenges in Manufacturing Industry
![Page 1: Challenges in Manufacturing Industry](https://reader038.fdocuments.us/reader038/viewer/2022100506/553e0dae550346933f8b48a2/html5/thumbnails/1.jpg)
Challenges in Manufacturing Industry
![Page 2: Challenges in Manufacturing Industry](https://reader038.fdocuments.us/reader038/viewer/2022100506/553e0dae550346933f8b48a2/html5/thumbnails/2.jpg)
2
Introduction• Manufacturing Industry
– Strongest segment– Steady growth– 4th Largest in the world– Organized sector
• Various Manufacturing Sectors– Automobile– Chemical– Metal – Textile
• Diversified Manufacturing Business
![Page 3: Challenges in Manufacturing Industry](https://reader038.fdocuments.us/reader038/viewer/2022100506/553e0dae550346933f8b48a2/html5/thumbnails/3.jpg)
Manufacturing Industry
Finance Manageme
nt
Costing
Human Resource
Government PoliciesLocation
Technology
Economic Conditions
Challenges in Manufacturing Industry
![Page 4: Challenges in Manufacturing Industry](https://reader038.fdocuments.us/reader038/viewer/2022100506/553e0dae550346933f8b48a2/html5/thumbnails/4.jpg)
4
Finance and Costing
• Challenges: 1. High quality products at lower costs
2. Working capital requirements
3. Financial viability in competitive market
4. Foreign exchange rates
• Solutions: 1. Effective capital management
2. Input cost minimization
![Page 5: Challenges in Manufacturing Industry](https://reader038.fdocuments.us/reader038/viewer/2022100506/553e0dae550346933f8b48a2/html5/thumbnails/5.jpg)
5
Human Resource
• Challenges: 1. Unskilled labor
2. Technical engineering talent
3. Communication pattern
4. Labor union
• Solutions: 1. Well defined communication channel
2. Finding and hiring quality people
![Page 6: Challenges in Manufacturing Industry](https://reader038.fdocuments.us/reader038/viewer/2022100506/553e0dae550346933f8b48a2/html5/thumbnails/6.jpg)
6
Technology
• Challenges: 1. Change in technology
2. High costs incurred due to technological up gradation
3. Lack of technical know how of the employees
• Solutions: 1. Adaptable approach towards upgraded technology
2. Training programs for the employees
3. Selecting the most viable option available
![Page 7: Challenges in Manufacturing Industry](https://reader038.fdocuments.us/reader038/viewer/2022100506/553e0dae550346933f8b48a2/html5/thumbnails/7.jpg)
7
Other Challenges• Family Conflicts
• Safety Measures
• Government Policies
• Different legal frame work between two nations
• Corruption
• Location
![Page 8: Challenges in Manufacturing Industry](https://reader038.fdocuments.us/reader038/viewer/2022100506/553e0dae550346933f8b48a2/html5/thumbnails/8.jpg)
8
Summary• Backbone of all the other business sector
• SME’s / FOB’s are highly affected by these challenges
• Consistently progressing sector
• Meet international standards
• Risk factor
![Page 9: Challenges in Manufacturing Industry](https://reader038.fdocuments.us/reader038/viewer/2022100506/553e0dae550346933f8b48a2/html5/thumbnails/9.jpg)
9
Thank you..