Australia’s car industry will totally vanish by 2017 raising the unemployment rate to 13% or more. Whilst there’s great hope in medical technology and the pharmaceutical industries (more than $4 billion worth of exports were recorded in 2011-12 making Australia one of the biggest pharmaceutical manufacturers globally), Australia needs to catch up with the smart manufacturing concept as countries like the USA reinvent their manufacturing processes. The authors of this article urge Australia to adopt smart moves for manufacturing exports.
Hybrid Electronics is the kind of business that has been touted as the future of local manufacturing.
The Melbourne-based company’s highly skilled workforce makes high-tech products for a niche market.
Every day it produces thousands of custom-made electronic chips used in X-ray machines, headphones and UV-ray monitors. They are designed by local engineers, shipped to the Philippines for construction and sent off to clients around the world.
While it’s true that Australians found smarter methods of manufacturing during the industrial revolution era, businesses need federal support in building the infrastructure to allow effective use of smarter technologies like cloud computing integration, decentralised and modular global manufacturing and R&D as well as other innovations. Most of all, expanding its export market extensively to the world is essential to create additional jobs in these sectors – to fill in the gap vacated by the car industry. Investing in the hi-tech distribution channels and platforms is a must to realise the plan!
Image Source: Infographic
Insights by: Jürgen Strauss