This move will help Panasonic-selling a range of products under its consumer electronics business and cooperating with several large manufacturers that provide business-to-business solutions-to further expand its business-to-business business in the country

Electronics and technology company Panasonic launched Miraie Profactory industrial IoT and smart factory solutions on Wednesday for Indian manufacturers who want to digitize factory operations. 

This move will help Panasonic-selling a range of products under its consumer electronics business and cooperating with several large manufacturers that provide business-to-business solutions-to further expand its business-to-business business in the country.

"The platform is compatible with different types of machines, models and brands in the manufacturing sector. Miraie Profactory will enable Indian manufacturers to digitize their factory operations," the company said in a statement. Miraie Profactory was developed at the company's India Innovation Center in Bangalore.

Miraie profactory uses new-age technologies such as cloud, Internet of Things, analytics, and mobile applications to manage end-to-end operations. The Miraie Profactory solution belongs to Panasonic's smart factory solution vertical industry. 

The company will work with Indian and global manufacturers who are looking for interconnected workshops and ecosystems. These manufacturers adopt new-age technologies to help them manage the end-to-end operations of workshop visualization to ensure improved production efficiency, quality, and Panasonic smart factory solutions According to Masafumi Himeno, managing director of the India branch, it will reduce downtime, thereby creating economies of scale for manufacturing companies.

Manish Sharma, CEO of Panasonic India, said that smart factories are helping manufacturers quickly start digitizing, while improving overall equipment efficiency (OEE) while saving a lot of costs. "In our pilot project, we have seen an 8-15% increase in manufacturing facility productivity. Panasonic's MiraieProfactory platform is designed to empower companies in the process of digital transformation," he said. 

At the same time, the electronics manufacturer said it continues to face headwinds in commodities — but added that the worst may have passed. In the past year, the company has raised prices twice for its home electronics product line. 

"The cost pressure is very high, but I think we have reached the peak. It will only improve from here," Sharma told reporters on Wednesday.

Sharma said that demand for consumer durables such as washing machines, air conditioners and refrigerators has been "bullish." However, due to supply issues, television has declined.

Sharma said the company may end the fiscal year with a 10% year-on-year revenue growth. This includes revenue from the company's B2B and consumer electronics verticals. 

In the fiscal year ending March 31, 2021, Panasonic India reported a total revenue of 87.23 billion rupees, including revenue from Panasonic Life Solutions India, which is a manufacturer of electrical building materials (ECM) , Sells switchgear, wires, cables, and wiring equipment under the Anchor brand ceiling fans; for its durable consumer goods business, the company sells washing machines, air conditioners and refrigerators. Small household appliances and other companies have also contributed to the vertical field of the enterprise. 

"Demand has been bullish, not only when pent-up demand picked up, but we have been growing even after that," he added.

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