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January 23 2024

2023 Trends in Australian Manufacturing

k999content Blog artificial intelligence, australia, ESG risk, manufacturing, trend 0

As we say goodbye to 2023 and step into 2024, it is a good time to reflect on the year that went by and what it meant for the Australian manufacturing sector. It was a transformative year for the industrial landscape as it navigated through numerous challenges throughout the year. 2023 saw many ups and downs and witnessed evolving technologies, stronger sustainability imperatives, and a greater demand for resilience. Let us take a look at the top trends that shaped the Australian manufacturing industry this year and how the momentum can be carried forward into 2024.

Revolutionising Operations

2023 witnessed smart factories becoming the norm, not just in Australia but beyond, with the rise of real-time monitoring and agile operations on many shop floors. Industry 4.0 technologies and top manufacturing technology trends, like Internet of Things platforms, big data analytics and advanced algorithms, the digital twin, and 3D printing, continued redefining manufacturing processes throughout the year and show no signs of slowing down. Australian heavy steel fabrication companies are also recognising the importance of upskilling their workforce in digital transformation and automation.

Sustainability Takes Centre Stage

Manufacturers are increasingly embracing eco-friendly practices all over the globe. In doing so, they are not only reducing their environmental footprint but also future-proofing their pipe fabrication operations against continuously evolving regulations and consumer preferences. This year, many Australian companies turned to digital and electrified technologies, from artificial intelligence to electric vehicles, to promote sustainability and combat the climate crisis. A report released this year by Schneider Electric revealed that 82 per cent of businesses in the country believe that the advantages of adopting sustainable technology far outweigh the associated costs. In an era where environmental consciousness is crucial, sustainability is in the spotlight for many Australian companies as a key element in driving the industry towards a more eco-friendly and resilient future.

Reshoring and Onshoring

Supply chain disruptions and geopolitical uncertainties continue to plague the global industrial landscape, making it more crucial for Australia to revive manufacturing and claim its position by reshoring and onshoring operations. In 2022, the Australian government introduced a $15 billion landmark bill that would support, diversify, and transform Australia’s industry and economy and position the nation as a country that manufactures. The National Reconstruction Fund (NRF) was welcomed by business leaders across all industries in the country, with the local manufacturing sector in particular set to receive a major boost from the funding. This investment is expected to help cement Australia’s position as a world leader in innovation and manufacturing and help to unlock the potential of local Australian steel companies. The NRF board held its inaugural meeting in September, officially launching the corporation that will help enhance Australia’s local manufacturing prowess.

Upskilling

Upskilling has emerged as one of the most vital catalysts for growth and innovation. With the rise of Industry 4.0, the need for a new paradigm that prioritises upskilling and re-skilling workers has never been more important. This year, the federal government rolled out the Artificial Intelligence Adopt Program, a new initiative that would help Australian businesses integrate artificial intelligence safely into their workplaces. Through the program, the government aims to create a network of industry-specific centres that will highlight the innovative capabilities AI can bring (such as AI video surveillance in manufacturing) and provide specialist training to help develop skills to manage AI. It has been proven time and time again that upskilling efforts not only empower individual workers but also propel the entire industrial sector towards a future defined by innovation, sustainability, and resilience.

Final Thoughts

The Australian manufacturing industry has been fortified by many challenges and innovations in 2023. As we enter the year ahead, it is important to remember that change is the only thing that is constant and will always be present every step of the way. Thus, embracing the transformative forces that defined 2023 may hold the key to staying competitive in this industry!

January 9 2024

Manufacturing In The Digital Age

k999content Blog digital, industry, manufacturing, social media, trend 0

In this age of social media, industries are looking to build their brand presence digitally. Customers are increasingly moving service interactions online, with people nowadays being short of time and looking for easier ways to purchase. Digital businesses can engage their audiences, undertake trend analysis, research sentiment regarding its products, identify industry influencers and conduct competitor comparisons. These trends present a massive opportunity for manufacturers to stand out as a service differentiator as there are techniques by which manufacturing brands can leverage social media to reach B2B buyers and future proof its supply chains. This blog will dive deeper into this interesting topic with relevant use cases.

Shifting To Full Online Customer Service

The value of data has been listed as a top manufacturing technology trend. The inherent high visibility of social media platforms underscores the critical importance of delivering exceptional customer experiences based on data and harnessing their potential to substantially enhance a company’s reputation. Transforming social media activity into a comprehensive customer service channel is not always straightforward but with a well-crafted strategy, prioritising response times and cultivating a consistent tone of voice, brands can provide a meaningful experience for customers. For instance, James Hardie, a large manufacturer, has renovated its social strategy by wholeheartedly embracing customer care via social media. The company uses monitoring tools such as Sprout Social to increase knowledge about their audience and optimise customer care operations with a single line of sight on customer sentiment.

Questions For Thought

Some questions which manufacturers need to ask themselves regarding social media trends of the audience are as follows: –

What is being said about your brand on social media? (such as the social media chatter on the environmentally invasive Scarborough project)
What is the general sentiment of the conversation?
Where in Australia or globally is the conversation happening? What print and online publishers are promoting quality editorial around your vertical?
Who are the most active individuals and groups within the conversation – on and offline?
What resource organisations have engaged online communities? What led to their success?

Social media monitoring tools such as Hootsuite, Sprout Social, Brandwatch, and Brand24 are useful starting points for streamlining and managing customer interactions on social media platforms.

Transforming Social Stories

By crafting compelling content, manufacturers can drive social media engagement, expand reach, and encourage audience interaction and sharing. Brand social display can leverage brand benefits to tell the brand story. Facebook & Instagram carousels can expand on a brand’s story with slightly longer messaging and multiple images. Prospects can be retargeted with product features or price-led messaging. As an example, Avery Dennison, a major pipe fabrication company is taking full advantage of video to attract its audience. Fully loading its YouTube channel with product deep-dives, how-to videos or employer brand clips has proved to be a winning strategy with the brand amassing 26,000 subscribers.

Ending Comments

To help drive successful digital programs, B2B marketers need to translate overarching goals, such as creating positive brand association and affinity, into specific measurable online actions. Examples can include acquiring supporters to social channels, acquiring email addresses for outbound marketing efforts, or engaging broader online communities to independently disseminate the firm’s message. The major takeaway is that there is a new customer and stakeholder journey in the increasing impact social media networks have on purchase decision and behaviours. Different brands may need to use different social media platforms and a strategy that is fit for purpose – hence it is vital to understand who the brand is trying to reach else the message will likely get lost in translation!