Improving processes and enhancing efficiencies in manufacturing
James Robinson, Head of Services for Asia Pacific at Syspro. In today’s global manufacturing market, competition is intense. International supply chains, shifting consumer demands and rapid technological advances force manufacturers to adapt swiftly or risk falling behind. For Australasian manufacturers, these challenges are magnified by geographical distance from key international markets and higher labour and production costs, demanding a relentless focus on agility and efficiency. Navigating global market dynamics Australasian manufacturing sectors operate within a complex, rapidly evolving global economy. Supply chain disruptions, geopolitical tensions and fluctuating commodity prices continue to reshape the industry. According to BHP’s latest economic outlook, major economies are experiencing varying growth rates. Developed economies are stabilising after grappling with high interest rates, while India remains on a rapid growth path. Meanwhile, China’s uneven recovery underscores ongoing challenges within its industrial sectors, though it is expected to meet 2024 growth targets. Geopolitical risks are expected to remain elevated, adding uncertainty to global trade. Industrial activity in 2023 remained sluggish due to subdued global demand and the lasting impacts of the energy crisis. However, BHP projects a recovery in demand for key commodities like steel, copper and nickel by 2025, presenting growth opportunities for Australian manufacturers aligned with these sectors. For local manufacturers, this volatile landscape brings both challenges and opportunities. Higher interest rates continue to suppress domestic demand, but the recovery in commodity markets offers a chance to supply essential components to industries such as construction, transport and energy production. Enhancing agility with ERP In considering the shifting market challenges, Australian manufacturers must adopt flexible, data-driven operational strategies to capitalise on opportunities. Enterprise Resource Planning (ERP) systems can help manufacturers respond effectively to shifts in demand by improving processes and enhancing efficiencies to remain competitive. ERP systems help manufacturers integrate essential processes, including procurement, production, […]