Electronics and technology company Panasonic on Wednesday launched its—Miraie Profactory—industrial IoT and smart factory solution targeted towards Indian manufacturers who wish to digitize their factory operations.
The move will help Panasonic—that sells a range of products under its consumer appliances business and also works with several large manufacturers offering business to business solutions—further expand its business-to-business operations in the country.
“The platform is compatible with different types of machines, model and brands in the manufacturing space. Miraie Profactory will enable Indian manufacturers to digitize their factory operation,” the company said in a statement. Miraie Profactory has been developed at the company’s India Innovation Centre, Bengaluru.
Miraie profactory uses new-age technologies such as Cloud, IoT, analytics, mobile app to name a few, to manage end-to-end operations. Miraie Profactory solution falls under Panasonic’s Smart Factory Solutions vertical.
The company will work with Indian as well as global manufacturers who are looking for a connected shop floor and an ecosystem with new-age technologies that helps them manage end-to-end operations in visualization of shop floor to ensure enhanced production efficiency, quality, and reduced downtime, thereby creating economies of scale for manufacturing companies, said Masafumi Himeno, divisional managing director, Panasonic Smart Factory Solutions India.
Manish Sharma, CEO, Panasonic India said that smart factories are helping manufacturers jumpstart to digital, while improving the overall equipment effectiveness (OEE) while saving major costs. “In our pilot projects, we have been seeing an increase of 8-15% in manufacturing facility productivity. Panasonic’s MiraieProfactory platform aims at empowering enterprises who are in process of digital transformation,” he said.
Meanwhile, the electronics manufacturer said it continues to face high commodity headwinds—but added that the worst might be behind it. The company took two price hikes on its range of household electronics in the last one year.
“Cost pressures are very high, but I think we are already touching the peak. From here it is only going to improve,” Sharma told reporters on Wednesday.
Sharma said demand has been “bullish” across consumer durables categories such as washing machines, air conditioners and refrigerators. However, televisions have seen a slip owing to supply-side issues.
Sharma said the company could end the current fiscal with a 10% year-on-year growth in revenues. This includes revenues across the company’s business-to-business and consumer electronics verticals.
For the fiscal ended 31 March 2021, Panasonic India reported total revenue of ₹8,723 crore—this includes revenues from Panasonic Life Solutions India, that is a manufacturer of electrical construction materials (ECM) that sells switchgears, wires, cables, wiring devices apart from ceiling fans under the brand Anchor; its consumer durables business where the company sells washing machines, air conditioners and refrigerators. Small appliances as well as the remaining business-to-business verticals too contributed to this.
“Demand has been bullish, not only the pent-up demand when it came back, but even after that, we’ve been growing,” he added.
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