HCLTECH risk management . We are seeing some fundamental changes in sourcing strategy to scale this entire ecosystem — right from the current traditional model to a nextgeneration sourcing model — focusing on visibility , speed , agility and robust infrastructure and applications to align to that vision .
The new outlook on the supply chain , particularly in the eyes of manufacturers , is to consider all aspects of sourcing instead of targeting individual areas . This means a holistic approach to sourcing has become a necessity in risk mitigation .
Weighing up the benefits of both globalization and localization of supply chains is somewhat an endless debate . Thus , the proposal of Gopalkrishnan and the team at HCLTech is to consider what he calls a ‘ glocalization ’ model .
Creating more of an agile environment continues to be a challenge for a lot of manufacturers . It ’ s important they change their thought processes and move into a transformational mindset , which requires a balance of local and global competencies , through Industry 4.0 and digital transformation levers .
The benefits of digital in the supply chain Global business has been the major catalyst for many organizations , driving them towards operational excellence , which provides a strong case for a globalized manufacturing outlook . But , to reach new heights and become more innovative , Gopalkrishnan says that the focus should turn toward the state of the market leveraging a more proactive approach to market disruptions . This is where manufacturing companies are utilizing the latest industry 4.0 capabilities — along with the internet of things ( IoT ), to establish their digital transformation based on data .
“ This will allow them to become more transparent in their operations , consistent and market-responsive . On this line , we are establishing and helping some of our
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