Enormous Opportunity for Manufacturing

Australia has an “enormous opportunity” to reboot its manufacturing sector by taking advantage of crippled global supply chains and a lower currency, says Nev Power, the man handpicked by the Prime Minister to?lead an expert advisory commission.

Former DowDuPont executive Andrew Liveris has been recruited to work with the Power-led National COVID-19 Coordination Commission and devise a long-term strategy to deliver a competitive, best-in-class manufacturing sector as a major pillar in helping rebuild the economy.

The Advanced Manufacturing Growth Centre released the?Building Resilience in Australian Manufacturing research which outlines what drives resilience, with 70 per cent of resilient manufacturers exhibit technical leadership, 64 per cent produce a diverse product offering, and 54 per cent have business models that allowed for high flexibility.

The report identifies three strategies for building resilience and how manufacturing leaders can use these approaches for continuing success. The three strategies focus on superiority- firms offering technically superior products or services-, diversity, and flexibility.

Commissioners with the newly formed National COVID-19 Coordination Commission, Greg Combet AM and Catherine Tanna, are working with manufacturers to ensure supply of essential products, such as personal protection equipment, and solve supply chain issues to keep critical goods flowing to Australian communities.

Commissioner Combet said the Commission is working to solve immediate supply priorities with manufacturers and is advising government on solutions.

“I’m focused on urgent issues and how industry can re-tool very quickly to adapt and respond to our current situation, including manufacturing medical supplies and critical products in Australia,” Mr Combet said.

“We're working very closely with the manufacturing companies and each state and territory on opportunities to gear up across the country and meet current demands.”?

The Commission has also asked Global Businessman Andrew Liveris AO to work with industry leaders to identify specific opportunities for growth in manufacturing once Australia moves into the recovery stage.

Working through the Commission, the group will provide advice on priority recommendations to government on future opportunities for manufacturing in Australia.

The working group includes:

·???????Innes Willox, AiGroup

·???????James Fazzino and Ben Eade, Manufacturing Australia

·???????Jens Goennemann, Advanced Manufacturing Growth Centre

·???????Paul Bastian, Australian Manufacturing Workers’ Union

The Commission is being led by Mr Neville Power and supported by an Executive Board of Directors drawn from across the business and not-for-profit sectors comprising: Mr Greg Combet AM, Ms Jane Halton AO PSM FAICD FIPPA, Mr Paul Little AO, Ms Catherine Tanna, and Mr David Thodey AO.

The Commission has two key roles: to help minimise and mitigate the impact of COVID-19 on jobs and businesses, and to facilitate the fastest recovery possible once the virus has passed.

See - https://www.afr.com/policy/economy/nev-power-s-plan-to-reboot-australian-manufacturing-20200402-p54gf2

Follow Michael on Twitter @MrMichaelSharpe

Michael Sharpe is the National Director for Industry at the?Advanced Manufacturing Growth Centre, a Director of the?Sharpe Family Office?and Founder of the?Nuclear Skills Forum.