Advanced manufacturing may put an end to the decline of the Australian manufacturing sector.
For over a decade, we have seen an exodus of manufacturers and Australia has lost a vital part of our economy as a result.
This is changing right now as onshore advanced manufacturing is alive and kicking, thanks to “Industry 4.0”.
Industry 4.0 is the cyber connected world of people, machines, robotics, data and artificial intelligence, all coming together in ways that have not been possible before.
Whilst large scale heavy industries may still depend on offshoring, new or niche manufacturers can now consider onshore production.
A new era is emerging where SMEs can take advantage of advanced manufacturing solutions that free them from the need of low cost offshore labour.
We predict this trend for Australia’s advanced manufacturing sector matters as the cost of process automation continues to fall.
5 hidden benefits!
- Onshore manufacturing will keep Intellectual Property within our legal system. This is a major benefit for entrepreneurs.
- The “know how” accumulated through process automation will also enhance the tacit value of businesses.
- Process automation requires higher added value skills, not just less low value jobs.
- Government Funding is available for suitable projects.
- Savvy investors are always looking for emerging sector opportunities.
If you produce physical products, you should no longer consider off shore production by default. Consider building your advanced manufacturing operation in Australia as part of your strategy.