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Commentary: Manufacturing cannot adopt a wait-and-see approach to transformation

 

The world has seen three industrial revolutions which have shaped the course of manufacturing and dynamics in the global economy.

 

The first industrial revolution was triggered by the creation of steam engines which helped to mechanise production, the second saw the onset of electricity and the birth of the assembly line, and the third took place in our lifetimes where manufacturing employed electronics and information technology to automate processes.

 

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