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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.

Following its successful virtual discussion in December 2022, leading NetSuite implementation partner Annexa is facilitating yet another exchange of insights and ideas aimed at building an efficient and resilient manufacturing operation in Australia. 

Whilst it’s true that cars are no longer being made on Australian soil, Aussie manufacturing is still thriving across many other industries.

Over the last three years, manufacturers all over the world have had to dramatically shift their focus from efficiency to resiliency in order to weather unprecedented global events, such as the COVID-19 pandemic and the war in Ukraine. 

As the manufacturing industry evolves over time and competition increases, business leaders are forced to develop ways to remain competitive and drive growth. However, some business leaders seem to fall short of strategies to diversify lines of business to achieve sustainability.

The importance of having a resilient supply chain has been heavily emphasised as skyrocketing costs of essential items are showing no signs of slowing down in Australia and across the globe. 

Challenges that plagued the manufacturing industry in 2022 are not showing any signs of slowing down, leaving business leaders with the monumental task of dealing with these issues—or at least their remnants— all while pushing innovation, meeting customer demand, and driving operational growth. 

The Australian manufacturing industry has seen dynamic trends in 2022 as it still recovers from the consequences of the COVID-19 pandemic. It is no secret that the industry is still dealing with the remnants of the disruptive global event as it weathers through challenging issues such as skills gaps, supply chain bottlenecks, and workforce shortages. 

The Australian tech industry has seen massive changes over the last two years as businesses, both big and small, were pushed to expand and innovate in the wake of a global pandemic. 

The federal government recently introduced a $15 billion landmark bill that would support, diversify and transform Australia’s industry and economy in an effort to reclaim its reputation as a country that makes things.