How LSM Sector can Boost Exports by Using IT Solutions

How LSM Sector can Boost Exports by Using IT Solutions

The industrial sector is considered the backbone of a country’s economy. According to an official survey, Pakistan’s industrial sector contributed 12.4% to the GDP in 2022. It has been divided into three tiers, i.e., Large Scale Manufacturing (LSM), Small Scale Manufacturing (SSM), and Slaughtering. LSM dominates the manufacturing sector, contributes around 9.2% to the GDP, and accounts for 74.3% of the sectoral share. As per the experts, the country’s Large-Scale Manufacturing (LSM) sector has the potential to significantly increase exports by using information technology solutions to help the country get out of its current economic situation. 

Currently, the sector faces numerous challenges, including outdated technology, low productivity, and insufficient resources for investment in research and development. However, these issues can be addressed using IT technologies, like drones and satellites, water and soil sensors, precision farming, etc. 

Following are some of the major areas where IT can use to address the challenges: 

Managing the entire process is one of the most important ways IT can leverage in large-scale manufacturing industries. From sourcing raw materials to carrying finished goods to customers, technological solutions can improve the production process, which results in lower costs and enhanced efficiency. It also helps manufacturers looking to reach international markets by fulfilling the demands of their customers in a timely and cost-effective manner. It also helps domestic manufacturers stay competitive in the global market.

Helping producers and manufacturers to ensure their products meet international standards by putting quality control measures in place is another key area where information technology can be leveraged. It can build long-term relationships with global customers by using various sensors to check the production process in real time and using data analysis to monitor patterns and trends that can indicate potential quality issues. The country’s manufacturing sector is mainly dominated by textile and clothing exports, and IT can facilitate the industry by enhancing its production capabilities, reducing costs, and improving product quality. Moreover, IT can offer manufacturers a digital way to sell their products directly to international customers by using e-commerce, bypassing traditional distribution channels and reducing costs. By enhancing supply chain management, boosting market visibility, and balancing productions and operations with improved sales and marketing techniques, technology can help manufacturers expand their reach and grow their businesses globally. 

Share this post

Leave a Reply

Your email address will not be published. Required fields are marked *

IMARAT Institute of Policy Studies

Interested in knowing more about us?

Sign up for our newsletter