Innovaluation: The Skill Set for Make in India Initiative in IOT Era

Abstract

This work attempts to analyze the role of new manufacturing scenario, in the IOT (Internet of things) era which has facilitated manufacturing automation, while simultaneously witnessing unprecedented competitiveness. Manufacturing has been threatened in most of the world except in China and USA, and awaits an action for a speedy recovery. One of the modes to revival is projected through all round cost cutting. To affect cost cutting, it is envisaged that the element of value addition be invigorated, using innovation as input and IIOT (industrial IOT) as the tool. The latter allows manufacturers to assign each of their physical assets a digital identity to maneuver the exact location and condition of those assets in real-time ubiquitously throughout. The trio of Value addition, innovation, and IIOT has been paradigm as an extension of the Joiner’s trilogy model. This set of imperatives of innovation, valuation and IIOT, which serve for cost cutting individually and collectively, may be holistically applied. In that holistic form these have been collated as a tool termed as Innovaluation. By providing for the most ‘valuable’ domains fitting into Joiner’s model—grounded over competence—Innovaluation assures achieving the most of profitability in manufacturing. This is in line with the coveted ‘Make in India’ initiative proposed by our worthy Prime Minister, Shri. Narendra Modi. 

Cite this Article Priyavrat Thareja, Komal Sharma, Samridhi Sharma et al. Innovaluation - The Skill Set for Make in India Initiative in IOT Era. Trends in Mechanical Engineering & Technology. 2016; 6(3): 26–40p.