Technology is the only antidote to help organisations support their business continuity in today’s extraordinary business climate.

Artificial intelligence (AI), blockchain, Machine Learning (ML) and IoT are the new realities facing businesses today. Organisations that pivot and adapt to new data-led technologies in a post Covid-19 world can easily pull ahead of the pack, a senior executive has said.

Speaking to BusinessLine , Adrian Johnston, Senior Vice-President of Cloud Applications (SaaS), Japan and Asia Pacific, Oracle Corporation, said a chain reaction is needed in the manufacturing sector, for the latter’s revival will trigger the revival of ancillary and other sectors.

“All the rapid changes happening in the business climate cannot be ignored and businesses, especially from the manufacturing sector, are focussing on business continuity. These businesses are facing major disruptions in terms of supply chains and manufacturing processes,” said Johnston.

New norm, for manufacturing

While the manufacturing sector is set to restart faster than other sectors, “it is necessary for businesses to adapt to the evolving situation. For example, automobile manufacturer Nissan has got into the production of protective gear, including masks, face shields, ventilators and medical equipment. Such moves to switch production lines have been apparent answers to changing needs in the marketplace,” he added.

Businesses that can quickly adapt to change can emerge as leaders during a crisis such as Covid-19.

Manufacturers have found it is also crucial to explore technologies such as AI, ML and automation as solutions to alleviate the incoming challenges, he said, pointing out that, “It is only a matter of time before these technologies become the norm for manufacturers at large.”

AI also helps adapt and strategise manufacturing processes and production routines based on external factors beyond the shop floor.

Supply shocks

Noting that business environments are sensitive and reactive right now, Johnston said the Asian economy is clearly susceptible to supply shocks.

Referring to a Deutsche Bank research note, which termed Vietnam as most vulnerable to China supply shocks among Asian economies, followed by Thailand in the second spot, Indonesia (3rd), India (4th), Sri Lanka (5th) and the Philippines (6th), Johnston said the supply shock sparked a reorganisation of manufacturing and supply chain management, forcing Japan and some countries in South-East Asia to be closer to home to reduce disruption.

“If there is anything to learn from how businesses are continually adapting to the situation now, it is that the manufacturing industry needs to rely on and invest in technologies such as AI, blockchain and IoT to maintain and enhance business operations. These reactive measures are a great response to prepare manufacturing businesses for an unpredictable future,” said Johnston.

How Unilever leverages tech

“One business that depends heavily on transportation, Unilever, has adopted Oracle Transportation Management Cloud to leverage AI and the IoT technologies to make data-driven decisions. As a result, the company has succeeded in better management of vehicles required for transportation and optimisation of their routes,” Johnston claimed.

Unilever is also using AI to combine internal and external data and build models that help predict the weather or traffic patterns, he added.

Similarly, Sandhar Technologies Limited, with the implementation of Oracle ERP and SCM cloud, not just enhanced its productivity, but also had tighter controls leading to smooth business operations, he claimed.

“The manufacturing industry is evolving, and manufacturers must now move with the times. Reliance on advanced data analytics and technologies such as AI, ML, blockchain and IoT, and the increased automation of tasks will be necessary for businesses to remain relevant and competitive,” said Johnston.

Robotics shows the way

Even as pre-Covid consumer demand for customised and unique products had pushed manufacturing companies to adopt flexible manufacturing practices, an early adoption of advanced technologies is critical to accelerate growth, especially for manufacturing organisations looking to stay relevant in the post-Covid age.

Manufacturers with large capacities already are benefiting from robotics and automation. “To quickly adapt to new business realities, many companies need to manage massive amounts of data across and beyond functional departments. This is when the right solutions make all the difference — a one-stop destination for data through the integration of systems,” pointed out Johnston.

Citing the example of Hindalco Industries, he claimed that the company adopted Oracle Enterprise Performance Management Cloud and streamlined its financial management and regulatory reports by utilising the power of data and smart automation.