Businesses across industries are riding on product-as-a-service trends. Brands are focusing on developing innovative and disruptive products that solve user pain points. This has given a robust boost to the demand for efficient and smart Product Managers across businesses.
One such industry in dire need of world-class Product Managers is manufacturing. From products for all to order-built product, the manufacturing sector caters to all business needs.
With large quantities of products being manufactured everyday, the industry needs efficient Product Managers to ensure that production stays on schedule, in budget, and delivers the best-of quality.
To know more about why Manufacturing industry needs Product Management, continue reading.
4 Ways Product Management is Changing Manufacturing in 2022
1. IoT Dominating Manufacturing
Following previous year trends, this year too Internet of Things (IoT) will be dominating the manufacturing industry. From inventory management to quality control to smart packaging, IoT is the top-trend in manufacturing.
With everyday increasing use cases of IoT in manufacturing, the need for smart Product Managers who can ensure best of outputs is also increasing. While IoT makes manufacturing processes easier and efficient, Product Managers ensure that these processes are conducted as per schedule, various teams are working in coordination to deliver the best of quality output.
2. PMs Helping Meet Growing Manufacturing Demand
As per analysts, India has the potential to become a global manufacturing hub by 2030. Everyday we are seeing more and more global companies setting up their manufacturing bases in India. Consequently, there is an increased demand for Manufacturing Product Managers helping these brands meet customer expectations.
A Manufacturing Product Manager would be responsible for:
- Understanding the product vision
- Communicating user needs to engineering, design, and production teams
- Coordinating the process of product manufacturing across teams
3. B2B to B2C Shift in Manufacturing
Since the last few years, manufacturing industry has rapidly shifted its focus towards B2C manufacturing from B2B. B2C offers better pricing models, brand control, and shorter retail time.
With B2C into picture, manufacturers need smart Product Managers who can ensure they meet the product requirements of ever-evolving user base.
Product Managers in a manufacturing industry are responsible for:
- Ensuring better management of customer data
- Reducing products’ time to market by increasing efficiency and coordination between teams
- Pricing the products right
4. PMs Leading Post-Pandemic Recovery for Manufacturing
Like other industries, manufacturing sector too has been hard-hit by the pandemic. On a road to recovery, the manufacturing sector is focusing itself on rescaling on the back of revival demand, technology advancements, customer trends, and future forecasts.
The industry needs to rework on its operating models to ensure efficiency and follow a cost-optimised model. In this process, Product Managers are playing a crucial role. They are responsible for bringing on table data-backed forecasts that help make informed decisions.
Further, with supply chain, inflation, and labour woes hampering growth; data-backed and optimised growth has become all the more important.
Product Managers bring efficiency to the team by coordinating efforts, come up with cost-saving alternatives, and meet customer demands at the same time.
Manufacturing industry is set to reimagine its future with a host of advancements on its way. Introduction of Product Management in manufacturing is one such needed advancements. Like other industries, Product Managers are expected to bring in efficiency in the manufacturing industry helping it reinvent itself!
If you are a Product Management professional or someone looking to build a career as a Product Manager, check out our top certification courses.