Industries should use digital tech for growth

Visakhapatnam: Chairman and Managing Director of RINL P Madhusudan suggested that industries should use digital technologies to formulate growth strategies in line with the changing market scenario.

Speaking at the inauguration of ‘21st CEOs Conference’ organised by the Indian Institute of Industrial Engineering (IIIE) in association with RINL-Visakhapatnam Steel Plant here on Saturday, the CMD said Digital India has the potential to radically enhance the performance and access to markets for the organisation.

Industry should invest in cutting edge research and development to keep ahead in a competitive environment, he said and stated that steel companies are using digital marketing, digital platform to sell their products to achieve business excellence.

Flexible, agile manufacturing system based on digital technology is required to meet its changing demands, he observed. Modern manufacturing is characterised by high levels of automation and integration.

Madhusudan presented ‘Performance Excellence Awards-2016’ in platinum, gold category to various industries on the occasion. Vice -dmiral S R Sarma, DGNP, Visakhapatnam, in his address cautioned the Indian industry not to fall into technological traps while making use of digital technology. Digital technology should be used judiciously.

He said that information security evaluation is very critical and the digital technologies would improve quality of life and communication which result in increasing efficiency.

DV Bhagat, Chairman,IIIE, said that the institution provides a forum for best managerial practices, professional excellence and provides industrial leadership.