NEW AGE MANUFACTURING PRINCIPLES
Abstract:
In the times of the Industrial age, the companies only benefited from the technology and the process in which they could convert this technology into their physical assets that offered efficient mass production do standard products. But the emergence of the Information era in the last two decades or so has made all this obsolete. It required for companies now to get hold of new capabilities, mobilize and exploit its intangible assets and to develop customer relationships and loyalty. Now, it’s for sure that in most companies, it is the customer who dictates terms and conditions rather than the company following age old rules to just survive. This work of study intends to put forth the various aspects and challenges that a Cyber-age Manufacturing System has to face in years ahead. The concept of Virtual Manufacturing will be dealt with in this study so that a company can achieve a WCM i.e. a World Class Manufacturing tag for manufacturing excellence. Furthermore, the Virtual Manufacturing concept will be presented as a brief introduction.
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