MFG Analyst recognition

Overview

Avasant, a leading management consulting firm, recently conducted an independent assessment, ‘Manufacturing Digital Services 2022-2023 RadarView^TM. The study assessed the solutions, offerings, and experience of 29 leading digital service providers and how they assist enterprises in their digital transformation journeys. It evaluated the digital service providers across three key dimensions: practice maturity, investments and innovations, and partner ecosystem. HCLTech has been rated 5 stars across all three dimensions.

The RadarView can help enterprises craft a robust strategy based on industry outlook, best practices, and digital transformation. It can also aid them in identifying the right partners and service providers to accelerate their digital transformation. It also highlights key trends in the market and Avasant’s viewpoint on the direction of the industry over the next 18 to 24 months.

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Case Studies

A European cable manufacturer

Summary

The client had legacy manufacturing systems implemented across multiple sites globally. This reduced visibility across production activities and quality assurance.
HCLTech implemented an AI/ML Smart Factory solution to digitize and integrate manufacturing processes, enabling access to shop floor equipment data for analysis. It improved manufacturing operations.

Business impact

Reduced lead time by 25%
Generated savings of USD 2.2M
Increased productivity by 20%

An automotive company

Summary

The client wanted to enhance its product recall facility by keeping track of the source of all critical parts used in building a product.
HCLTech developed a blockchain and cloud system to provide end-to-end traceability of assets coming into the supply chain. It enabled the client to retain and access the chain of custody and track and trace individual parts.

Business impact

Reduced interparty conflicts by 40%
Enabled accurate product recall

A car manufacturer

Summary

The client wanted to increase production capacity and reduce inventory and time to market. It also wanted a system that could easily include additional car variants.
HCLTech implemented an AI and cloud real-time supply chain tracking system that provided visibility across inventory management, packaging solutions, and material management.

Business impact

Optimized inventory by 30%
Reduced cost of packaging by 15%
Improved space utilization by 30%

An office automation company

Summary

The client lacked visibility across operations and suppliers’ inventory levels, which impacted sales volume.
HCLTech built an IoT platform that provided a unified ecosystem to distributors, sellers, and customers. This enabled real-time visibility for the clients to make informed decisions about inventory management.

Business impact

Generated revenue of USD 1B in five years
Increased savings of USD 100M in 15 months

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Analyst Commentary

HCLTech has expertise in the supply chain and manufacturing segments. It invests heavily in building digital solutions and driving business growth.

Avasant evaluated HCLTech on 3 key dimensions and HCLTech was rated as 5 stars across all three of them

Practice Maturity

Manufacturing is HCLTech’s strongest vertical, accounting for 53% of its total revenue. It drives digital transformation for its clients, helping them achieve cost savings through automation, developing connected products, and building customized strategies by using Industry 4.0 capabilities. It leverages its portfolio of digital capabilities to deliver tangible business benefits to its clients.

Investments and Innovation

HCLTech has completed multiple acquisitions to strengthen its capabilities across industries, including manufacturing. In 2022, it announced the acquisition of Quest Informatics for its Industry 4.0 capabilities in the field of aftermarket. It also announced the acquisition of Sankalp Semiconductor, which will enhance its industrial IoT and semiconductor space capabilities.

Partnership Ecosystem

HCLTech has a robust ecosystem of technology partners to deliver digital solutions to its manufacturing clients. It has partnered with PTC for its ThingWorx platform for connected products, Rockwell Automation for integration of ERP and plant floor control systems, Hewlett Packard Enterprise for enhancing visibility from the shop floor to the top floor, and Adobe for its Experience platform for enhancing customer engagement.