2018 Forecast: Advanced manufacturing remains bullish
Manufacturing in Australia has capped 14 consecutive months of expansion – led in part by the food and beverage industry, according to projections tracking this sector’s performance. The manufacturing sector continued its expansion throughout 2017, notes an index released by the Australian Industry Group (AI Group), Australian Performance of Manufacturing Index. November was marked by strong performance, while mirroring an uninterrupted growth phase that kicked off in October last year. This trajectory was influenced by strong sales, production and jobs growth, and an escalation of exports across emerging and traditional markets. Among the trends, the traditional manufacturing industry will thrive, together with a factory floor adoption of the newer, more advanced manufacturing technologies. The AI Group notes that manufacturers are in a “rebalancing act,” marked by pockets of growth in food, beverages, groceries, and specialist machinery. The other sectors incorporate pharma, building materials, industrial textiles and furniture. Advanced manufacturing is defined by an ability to blend the skills of a multidisciplinary team, leveraging internet and emerging technologies, and capturing customers’ needs to deliver innovative products and services. This roadmap is also highlighted at the 2nd Annual Industrial Internet 4.0 Summit being held 21-22 February in Sydney. With a line-up of 30+ speakers and industry partners, this dedicated forum highlights core trends, and reflects industry forecasts, among these: INDUSTRIAL INTERNET OF THINGS (IIOT) AND AUTOMATION The future of manufacturing is influenced by the industrial internet of things (IIoT), robotics, automation, sensors, connected devices, big data, analytics, and mobile apps. Manufacturing is entering a phase of restructuring. This blueprint recalibrates cumbersome business processes, embraces automation, and adopts the more advanced techniques to improve productivity. On the automotive front, local manufacturers compete with low-cost imports. This sees a trend in moving production overseas, especially to Asia, while managing the overheads and reducing pressures on the bottom […]