Investment in digital selling is imperative for long-term success, but most are underprepared, with 55% of manufacturing intending to bring operations.
COVID-19 has business re-thinking reliability of supply. By David Braue on Apr 13 2021 12:40 PM Print article
Business is bringing manufacturing back to Australian shores. Photo: Shutterstock
Ongoing market volatility will drive more than half of Australian businesses to bring overseas manufacturing jobs back into the country in high volumes, a new industry survey has found, as COVID-19 disruptions continue to push business leaders to reconsider their business resilience strategies.
Fully 55 per cent of 500 surveyed senior manufacturing executives expect to bring manufacturing operations back to Australia by 2023 and 22 per cent have already done so, according to the Australian Manufacturing Outlook study conducted by AI-based pricing firm PROS.