Manufacturing industry to benefit from Wipro/Lone Star tie-up, say companies
Lone Star Analysis has announced partnership with Wipro Limited which it says will lead to the rapid deployment of low-risk, high-value smart solutions in a number of industries, including manufacturing.
Lone Star provides data analysis software and services which enables users to make quicker and more effective decisions based on accessible data.
This partnership allows Lone Star’s analytics services to enhance Wipro’s larger integrated industrial internet of things (IIoT) platform by predicting future outcomes in real-time and turning that knowledge into action.
The insights can be applied across virtually any industry and can be easily enabled anywhere, including the “edge,” for efficient and accurate predictive and prescriptive recommendations. Lone Star’s solutions enable true cause and effect understanding of the input data and are customised to suit individual needs.
“The way we create intelligence is different from other predictive analytics companies,” said Steve Roemerman, CEO, Lone Star Analysis. “Wipro sees the extraordinary value in that, and we are looking forward to giving their customers the best insight, coupled with true data transparency.”
The relationship was driven forward because of the complementary nature of the companies. Lone Star is laser focused on delivering transparent intelligence solutions anywhere in the network while Wipro is committed to delivering end-to-end platforms and engineering support for the partnership.
“Lone Star’s AnalyticsOS based solutions coupled with Wipro’s engineering capabilities enable game-changing digital transformations for customers,” said Kunaal Mahanti, Consulting Head – Product Engineering Services, Wipro Limited. “This combination will allow for the rapid deployment of low-risk, high-value smart solutions for manufacturing, oil and gas, and industrial clients.”
Wipro is a supplier of multiple end-to-end integrated platforms and is looking for the best possible solutions within their systems.
IMF: Variants Can Still Hurt Manufacturing Recovery
After a year of on-and-off manufacturing in the US, UK, and the eurozone, demand for goods surged early last week. Factories set growth records in April and May, suppliers started to recover, and US crude hit its highest price point since pre-COVID. As vaccination efforts immunise much of the US and UK populations, manufacturers are now able to fully ramp up their supply chains. In fact, GDP growth could approach double-digits by 2022.
Now, the ISM productivity measure has surpassed the 50-point mark that separates industry expansion from contraction. Since U.S. president Biden passed his US$1.9tn stimulus package and the UK purchasing managers index (PMI) increased to 65.6, both sides of the Atlantic are facing a much-welcomed manufacturing recovery.
Lingering Concerns Over COVID
Even as Spain, France, Italy, and Germany race to catch up, and mining companies pushed the FTSE 100 index of list shares to a monthly high of 7,129, some say that UK and US markets still suffer from a lack of confidence in raw material supplies. Yes, the Dow Jones has made up its 19,173-point crash of March 2020, and MSCI’s global stock index is at an all-time high.
Yet manufacturers around the world realise that these wins will be short-lived until pandemic supply chain bottlenecks are solved. If we keep the status quo, consumers will pay the price. In April, inflation in Germany reached 2.4%, and across the EU’s 19 member countries, overall prices have increased at an unusual pace. Some ask: Is this true recovery?
IMF: Current Boom Could Falter
Even as Elon Musk tweeted about chip shortages forcing Tesla to raise its prices, UK mining demand skyrocketed; housing markets lifted; and the pound sterling gained value. The International Monetary Fund (IMF), however, cautioned that manufacturing recovery won’t last long if COVID mutates into forms our vaccinations can’t touch. Kristalina Georgieva, Washington’s IMF director, noted that fewer than 1% of African citizens have been vaccinated: “Worldwide access to vaccines offers the best hope for stopping the coronavirus pandemic, saving lives, and securing a broad-based economic recovery”.
Across the globe, manufacturing companies are keeping a watchful eye on new developments in the spread of COVID. Though US FDA officials don’t think we’ll have to “start at square one” with new vaccines, the March 2021 World Economic Outlook states that “high uncertainty” surrounds the projected 6% global growth. Continued manufacturing success will in large part depend on “the path of the pandemic, the effectiveness of policy support, and the evolution of financial conditions”.
Mathias Cormann, secretary-general of the Organisation for Economic Co-Operation and Development (OECD) concurred—without global immunisation, the estimated economic boom expected by 2025 could go kaput. “We need to...pursue an all-out effort to reach the entire world population”, Australia’s finance minister added. US$50bn to end COVID across the world, they imply, is a small investment to restart our economies.