Proceedings of The International Academic Conference on Management and Economics
The Adoption Valuation of Advanced Manufacturing Technologies – A Case of Select Indian Footwear Company
Amrita M A
Extensive adoption of advanced technologies like robotics, virtual reality, cloud computing, Internet of Things, Artificial Intelligence have been changing the status quo of many existing industries. Its impression on the footwear industry is also evident. Indian footwear industry has a huge growth scope within India and globally. Footwear industry is gearing up to leverage its strengths towards maximising benefits using these advanced technologies. Although, India has a competitive edge over other countries due to the availability of materials and skilled manpower, adoption of advanced manufacturing technology will catalyse sustainability and growth. Indian manufacturing industry is still very nascent to the adoption of advanced technologies. The study therefore, focuses on assessing the adoption of advanced manufacturing technologies in footwear industry in terms of functional diffusion, influencers and barriers towards adoption. XYZ Sandals is one of the prominent organisations in footwear industry in India and abroad. The company has initiated digitalisation process by way of adopting advanced manufacturing technologies. The study has been conducted in XYZ Sandals India Pvt ltd and the data has been collected from employees of the organisation across all the management levels. This paper develops and validates a multi-stage approach by using the descriptive research methods conducted with a sample of 50 employees from XYZ Sandals India. The study validated that, major benefits of using advanced technology leads to reduce time of manufacturing, cost of manufacturing, cost of maintenance, improved quality of output, manufacturing of highly customised products. It also identified barriers of adopting advanced technologies are cost of implementation, processability, confidentiality, and trust across of all management levels.
Keywords: Digitalization, Footwear industry, automation-benefits, manufacturing.