Feature

One of the major challenges for modern manufacturers in the post-pandemic era is the reliability of its supply chain. When building material and critical components used in the production line fall short, productivity drops, and operational costs can rise very quickly. In fact, a disruption can cost an organization 45% of one year’s profits over the course of a decade.

In 2020, Kyocera AVX, a US-based global manufacturer of advanced electronic components, spearheaded a plan to globalise all the systems across its manufacturing facilities located around the globe. 

Smart factories are the future of Australian manufacturing. Characterised by digital technology, real-time data-driven systems, automation and artificial intelligence and machine learning (AI/ML), the modern smart factory is an achievable goal for manufacturers of all sizes, across all industries.

The manufacturing and distribution sectors have traditionally been slow to adopt business-to-business (B2B) e-commerce, but this drastically changed in the wake of the pandemic. 

While there is no doubt the current health pandemic has had an impact on many Australian manufacturers, the inaugural CommBank Manufacturing Insights report suggests the sector is on the precipice of a new growth phase.

The Australian manufacturing sector is navigating increasingly rapid changes in industry dynamics as more technological advancements are adopted worldwide. 

As the Australian manufacturing sector faces the challenges and transformations that come with rapid globalisation, the role of digital technology within the industry has never been more critical. 

Indeed, the effective collection, analysis and application of data is at the heart of any smart factory’s strategy and operations. And if the data is the heart of the smart factory, then the data architecture is its lungs.

Digital transformation technologies are experiencing a gold rush in the manufacturing industry, not just in Australia but beyond. However, amid this surge in cutting-edge tech and automation processes, a fundamental element remains crucial: trust.

Additive manufacturing (AM) has the power to completely transform manufacturing businesses. According to a study by Jabil, up to 90% of manufacturers believe that additive manufacturing is essential to future-proofing their businesses.