January 12, 2021
In the midst of the COVID-19 pandemic, many of us have had to face once-in-a-lifetime challenges, perhaps both personally and economically. At the same time, geopolitical tensions have created uncertainty for some manufacturers with exposure to international markets. However, once-in-a-lifetime challenges also present significant opportunities for those who are willing to learn and adapt. With that in mind, new innovations in manufacturing technology are a key development for manufacturers seeking sustainable growth in this changing climate. For many years manufacturing played a significant role in Australia’s economic success and was one of the country’s biggest employment providers. In the 1980s, for instance, it accounted for roughly 16% of the country’s workforce—more than any other industry. So although Australia currently ranks last among Organisation for Economic Co-operation and Development (OECD) countries for manufacturing self-sufficiency, there is a history of success. The COVID-19 pandemic has impacted economies around the world, but Australian manufacturing can adapt, capitalising on international supply…