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6 Challenges Faced By Electronics Manufacturers
1: - Constantly Reducing Operating Margins:
The electronics manufacturing segment is constantly evolving, and the global competition is on a rise. New innovations and increasing numbers of players in the industry have led to dipping operating margins. It is a deep challenge for manufacturing units to constantly run cost-efficient operations and thereby, make profits without compromising on quality.
2: - Challenges of Global Supply-Chain:
Organizations are now serving consumers across continents. Hence, they need to deal with a complex network of global supply-chains while maintaining top-notch standards of quality. They must overcome the challenges of national and as international resources. Compliance, cost, uncertainty, reliability, and traceability are some of the major concerns affecting the smooth operations of electronics manufacturing units in the global supply chain process.
3: - Fluctuating Demand:
The economy is volatile, and the demands of products constantly keep fluctuating in the market. The spike and drops in consumer demand sometimes lead to an unsynchronized production process. Thus, keeping in mind the constantly changing consumer needs and preferences, it is imperative to have effective lean capabilities in place. This intern would help in keeping the inventory and the demand in perfect orientation.
4: - Managing Post-Production Services and Warranty:
Investing in global supply-chain has put main suppliers of quality management in spotlight. It is therefore radical to have both robust quality and traceability system in place. This would directly impact the warranty reserve plus the number of hours that are invested in post-production services.
5: - Constant Demand for New Products:
The life-cycle of a product is short considering the changing preferences, tastes and needs of the consumers. Manufacturing units need to be well-equipped with their New Product Introduction (NPI) strategies and processes. The research, production, sales and marketing processes must all work in tandem, so the deadlines, quality and quantity of a product launch are met.
6: - Sustainable Products and Projects:
Corporate Social Responsibility has become an important aspect of every organization’s functioning today. The rising awareness and emerging regulations in environmental protection has led manufacturers think about the life cycle of electronics while producing them. The idea is not to adversely affect the environment. Hence, electronics product testing by environment testing labs is slowly becoming a mandate. Testing labs in Delhi and all over India help in testing the electronic products for compliance with the environment safety standards.
These challenges are quite difficult to deal with; however, most organizations have managing the same quiet. Tactfully using both resources and technology to its optimum level will eventually help ease out the overall process.
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