Australia’s manufacturing sector has seen some pretty impressive growth over the last year. According to the most recent Performance of Manufacturing Index by the Australian Industry Group, the end of June marks the 12th straight month of expansion for the country’s manufacturing sector.
This stands as the lengthiest uninterrupted period of growth in a decades time. The index reported a rise of 0.8 points last month to a total of 51.8.
“It was a year in which manufacturers took advantage of the boost to competitiveness from the lower Australian dollar, both in the domestic market and in export markets,” explained Ai Group chief executive Innes Willox.
Globalisation creates growth opportunities for manufacturers
But the good news doesn’t end there, according to Advanced Manufacturing Growth Centre’s Managing Director Jens Goennemann. In an interview with Yahoo Finance, Goennemann explained that the manufacturing industry is not only in a period of growth, it is better than ever before.
Where Australia was once a nation with limited access, today the country has an abundance of goods. Goennemann heavily attributes this shift to the fluid boundaries of business today. Globalisation has opened up the proverbial doorways for countries everywhere to expand production.
In order to remain competitive, manufacturers across Australia must adapt to this new environment of increased demand and rapid growth. This will involve more innovative solutions to current market problems, an increasing reliance on technology and an ability (and willingness) to export resultant products to global markets.
“Today, Australia has some, yet by far not enough, highly successful ‘advanced manufacturers’ who are competing in the global marketplace exporting Australian ingenuity,” noted Goennemann. “These companies are unique in that they focus on the broad spectrum of manufacturing starting from research, development, design, logistics management – then production, and then to distribution, sales and post-sales services.”
The key to success
Optimised management protocols play a major role in the success of these companies. In this period of continual growth for manufacturing, leaders will need to streamline management functions in order to remain competitive in their markets.
However, there is a certain complexity in this process. Manufacturers must keep their eyes on three key industry drivers: Quality, efficiency and productivity. In order to do so, these three functions often have conflicting agendas.
ABM’s Manufacturing system seeks to address these intricacies. We have created a tool that will simplify, organise, manage and control every step and element of a business’s manufacturing. So, your company is free to ride the manufacturing boom with the simplest and most effective management available.
Want to learn more? Try out a live demo today.
