We all need a bit of good news in the current climate – especially if you’re in manufacturing. So, despite all the headwinds such as rising costs, inflation and supply chain issues, Australian manufacturing remains resilient and confident about future prospects.
This is according to research conducted by the Commonwealth Bank of Australia and reported in australianmanufacturing.com magazine.
According to the research, the Australian manufacturing sector remains bullish in the face of all the global economic challenges.
The top-line findings from the research include:-
On the plus side…
72% of manufacturers are looking forward to increasing production levels in the next 12 months
92% expressed a positive outlook on business conditions over the next 12 months
76% expect increasing revenues
74% anticipate increased profit
Investing to succeed…
Nearly 90% of manufacturers are looking forward to increasing their investment in technology.
-31% plan to adopt next-generation ERP systems
-31% plan to adopt autonomous systems
-30 plan to adopt Ai
That is not to say that Australian manufacturers are complacent in the face of global conditions….
75% expect increasing operating costs
92% say supply chain issues are holding back growth
86% say supply chain issues are negatively impacting cashflow
Despite all this, it’s refreshing to see Australian manufacturers are proving again their resilience and are rising to the challenges and overcoming them – read more.