Cost, Quality and Productivity have emerged as prime movers in the aftermath of globalisation wherein there is a pervasive environment of stiff competition. In the present times for any industrial establishment to succeed, one must follow the unwritten rule of 'Low-Cost High Productivity' with a philosophy of 'Do More with Less'. Most of the industries have become used to managing competitiveness by conducting business with low-cost manpower due to which we saw the arrival of a migratory workforce. In addition, to this, we have experienced the impact of the pandemic in 2020 and the subsequent reverse migration aspect that resulted in a shortage of manpower. The industries are left with no choice but to revisit their style of operations to keep themselves alive in the system. This situation became critical and after revisiting and reengineering themselves, the concept of 'Contract Manufacturing' was conceived.
This story is from the March 2022 edition of Commercial Vehicle.
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This story is from the March 2022 edition of Commercial Vehicle.
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