Manufacturing makes many contributions to our lives and our economy by encouraging commercialisation and R&D, creating efficiencies, generating export activity, and driving the production of personal protective equipment and medical equipment throughout the pandemic.
While the sector has shown strength, it isn’t immune to major challenges – including skill and labour shortages, supply chain gaps and finding its place in a highly competitive global marketplace.
But there’s light at the end of the tunnel with major investment into the sector as a result of a strong push by Government for manufacturers to scale up, establish Australia as a manufacturing nation, and position itself as a strategic partner in global supply chains. This includes the Modern Manufacturing Initiative, Patent Box, the R&D Tax incentive, multiple state-run initiatives, enterprises to modernise and improve Australia’s trade system and support Australian exporters. Many of these are specifically targeted at mid-sized manufacturers and play a key role in bringing these ambitions to scale up domestic capabilities to life.
This Manufacturing Benchmarking report provides a unique view of the market, how mid-sized manufacturers are tracking in the current environment, and how our clients are performing against their competitors. Now in its seventh year, this report helps organisations assess their performance against industry benchmarks across a number of data points – including sales trends, gross margins, workforce costs, inventory lockup, capex – and highlights avenues for improvement.
Using a sample of 100 Australian mid-sized manufacturers, these insights may help you to understand areas of risk, identify opportunities, and can help you assess your business against your peers. For more information around how you benchmark against your competitors and what opportunities you can leverage, please get in touch.