Industry Update August/September Issue 115

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AUSTRALIA'S LARGEST CIRCULATING MANUFACTURING MAGAZINE ®

Industry Update

Manufacturing

TV Show

COMING SOON Issue 115 August/September 2020

$12.00 INC.

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MANUFACTURING MAGAZINE

SEIZE THE DAY FOR

ECONOMIC RESILIENCE It may be seen as a bit of an irony to suggest that there has never been a much better time for manufacturing business to bask in the glory of public attention, especially during a time of covid pandemic.

manufacturing sector clocked up to $100 billion contribution to the Australian GDP, employed 900,000 Australians and accounted for the 26.4% business expenditure on research and development.

But according to Chief Executive Innes Willox from peak employer AiGroup,it is a time for the sector to seize the day before it escapes us, as the crucial role of Manufacturing in a progressive economy such as Australia’s can no longer be understated.

“It’s becoming clearer by the day that manufacturing is key to our economic survival and will be key to Australia’s economic recovery.”

The manufacturing sector is now considered to have capacity to contribute to more than the current 6 percent to the country’s GDP and it’s usually missed that the sector also provides essential and crucial contribution. Albeit with some setbacks during the pandemic the sector has managed to keep afloat during this critical time out of sheer resilience and economic determination to survive. Before COVID 19 broke out the Australian TENNANT CELEBRATES 150 YEARS PAGE 14

“There’s no doubt that manufacturing now has received much greater prominence especially in government thinking in the understanding of the vital role manufacturing plays.” “There is a lot of reason to be optimistic now that we are going to have a recovery that has manufacturing at its forefront,” says Mr Willox. AiGroup’s leader explains new and emerging doors were opened for the industry when by default it had to, on account of the pandemic.

“ There were gaps in our capabilities in supply chains exposed by covid and we do need to fill those gaps. Making our economy more broadly based will make us more resilient now and with future challenges.” In addition to our metals supply chains, Mr Willox identified sectors of “chemicals and plastics, waste, defence and space; along with food, agriculture and resources related work, all of those are key in our recovery as we broaden out Australia’s economy.” “We are not just talking about building markets but more about building our own capacities within Australlia, to build that self-reliance. This philosophy will go through traditional manufacturing and right through higher end manufacturing. The principles are the same, it’s about building and strengthening supply chains and capabilities.” For the full story see page 18

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Industry Update August/September Issue 115 by Industry Update - Issuu